Bybit DeFi Mining product is so much riskier than you think, don't use it.

Bybit offers a lot of blockchain DeFi services that users can use by simply depositing their USDT. Unfortunately, the USDT DeFi mining product is prone to fail in the medium term, and you are exposed to the risk of total loss.

• The product itself is extremely risky as you could be exposed to ALL stablecoin including the one that is just like UST, but Bybit does not offer enough warning and clarification.
• Bybit advertises a much higher yield than what’s showing on the original defi service itself, making their product inherently unsustainable.
• Bybit support is intransparent, incompetent, and reluctant to disclose the smart contract they are interacting with. When the bear market is presented there is no way for you to hedge/control the risk

How DeFi Mining work on Bybit

A daily subscription of a lock-up fixed saving deposit

According to their DeFi Mining FAQ, Bybit opens up a daily subscription for users to deposit their USDT into a 7/14/21 lock-up period fixed deposit. When the subscription window is ended, Bybit will transfer all the money into curve.finance protocol to farm yield.