RadioShack DeFi is.... Interesting.

Quite some time ago I wrote about RadioShack launching their own DeFi app. It may have only been a few months ago, but in crypto a week seems like a month so you know... I figured I'd check it out now that it's live - for the LOLz of course.

RadioShack Swap

So if you've never heard of Tai Lopez, do yourself a favor and Google him. He's a "serial entrepreneur" that gets richer by selling courses on how to get rich that have little to no substance. If you wanna learn more about the guy, check out this fact check article where they investigate some of his marketing tactics and whatnot. I'm not here to call the guy a scammer or really do any kind of investigation on him, he's just the guys behind this new RadioShack grift. I wrote a post highlighting a lot of the reasons why I think this is a horrible idea and quite possible another get rich quick move. Anyway - so fast forward and we have a live, working website. At least, I think it works. If you head to the regular old RadioShack website, you'll be met with all kinds of ads and other junk you'd expect from a legacy brand. Then you'll see a big link to the RadioShack Swap website right on the homescreen.

The design is.... weird. I see what they did here with the retro radio and basic look. They want you to feel like you've taken a step through a time machine into nostalgia-land. Of course the first thing you see when you connect your wallet is the swap UI, with the RadioShack RADIO token front and center. This swap service is about as simple as it gets. Select the 2 tokens you want to swap, and then confirm. Currently it supports Polygon and BNB Chain, which is great because ain't nobody got time for Ethereum's gas fees. Supposedly it will even allow you to pay the small gas fees in RADIO tokens if you're into that.

Clicking over to the Stake tab, they've got a RADIO staking mechanism that allows users to stake their RADIO for sRADIO. I gotta be honest - I read the docs a few times and I have no idea how this works. It looks like the xPOLYCUB staking where sRADIO's value in RADIO is determined by their version of "protocol owned liquidity" but I dunno. If you wanna throw some money into a fire, though, you could be racking up infinity % daily rewards on the single token RADIO staking! I dunno about you, but infinity sounds like a pretty high number to me! There's no way this is sustainable. Just FYI. Also - looking at the liquidity, users can add liquidity for pairs but there doesn't seem to be any incentive? Maybe I'm missing something. Take a look at the docs for yourself and let me know. The docs pretty much consist of a bunch of fluff with no actual valuable information.

I'd love to see some actual data but I can't seem to find any. I wanna see if people re actually using this garbage. I wanna see the volume on RADIO. None of that is easily available that I can find though. There's a little volume actually being traded on the RADIO token itself, but I wanna see what the actual platform is doing.

Anyway - that's it. I just wanted to check out the platform and have a laugh. Don't use this garbage. You're better off throwing your money in a fire. This is clearly Tai Lopez trying to use a dead brand to make a few quick bucks.

Thanks for reading! Much love.

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