PeakDeFi as an alternative to HEX? People got rich off HEX's referral system

[Bitmager]

If you guys played around with HEX when it blew up over the summer, you remember how crazy it was. People who got in early made a ton of money because of the way HEX is structured. The entire thing is basically just a referral program where you earn commission for referring people to the platform.

I recently came across PeakDeFi and thought it was interesting. You can stake PEAK and earn passive income, invest in their decentralized "hedge fund", or refer friends to stake.

The referral is the way you make serious money. If you get others to stake using your referral link, you get 10% of their earnings from staking in the form of PEAK, which is huge. You also earn a percentage if the people you refer then refer others. If you referral enough people, you could have a ton of passive income coming in. This is very similar to what happened with HEX and why so many people got rich off of it. Thoughts?

[TomPluz]

Unfortunately, I am not one of the thousands who made money from the referral system of HEX. While I am seeing no problem with referral type of marketing as this is a viable way of doing business many are not seeing it as a good sign of a cryptocurrency project. HEX right now is not anymore growing by leaps and bounds as its excitement has evaporated. And they need more energy and many causes to get back to the same level as before. I used to have HEX but I sold when I realized that it was already stagnating. This is what can happen when there is so much of a hype accompanying a project and certainly referral marketing is contributing a big percentage to its hypes. Good luck to PeakDeFi then.

[Thymoty]

Are you promoting HEX? I think a system like this has been implemented in many DEFI platforms, and in fact it is not as good as imagined.

[Crypto Guard]

Maybe this is one of the referral marketing efforts in promotion. But I myself am not interested in finding out more. I'm even more interested in Polkadot or ADA for now. HEX also seems to be stagnating for some time. But if it is for passive income purposes, I don't think it's wrong if you want to try.

[TomPluz]

Maybe this is one of the referral marketing efforts in promotion. But I myself am not interested in finding out more. I'm even more interested in Polkadot or ADA for now. HEX also seems to be stagnating for some time. But if it is for passive income purposes, I don't think it's wrong if you want to try.

The hypes plastered on HEX is now gone and maybe they are waiting for another wave of energy that can push the coin higher than it is doing right now. Personally, I have no problem with HEX as it is just another altcoin in the market that is vying for our time, attention and purse. Right now, there are already many new projects worth looking at and some of them can be bursting into the scene with some power though many will also be getting 6 feet under.

[ice18]

Honestly I dont know anything about PeakDefi and Is this a direct competitor of HEX? As far as I know AXION is the closest competitor of HEX If you are just talking about the referral for a passive income in Peak then its too many referral system in many defi not only Peak Defi. 

[nadyn]

It takes talent to make money with referrals. I am laconic and cannot convince a person to enter the project using a referral link. Moreover, investing money.

[Filo]

Was not HEX a Scam? I always thought HEX is a scam lol.

[Jaephoenix]

I don't understand how or why this hedge fund thing is creeping gradually into DeFi and crypto. NFTs are the craze now, but I think when it has blown off, crypto hedges would take over. You say it here first!

[Debasco]

this is interesting, don't really know about peakdefi but knows about Hex, the scheme you mentioned is quite interesting, but have a question, what of if you don't have a referral, that means no income.

[Galley]

All projects that are based on a referral system, as the only way to raise funds, are a regular pyramid that builds on hype and dies right after the flow of new people dries up. The project should work, not pump funds from one pocket to another.