Freeway has stopped some of its services due to unprecedented volatility in the foreign exchange and cryptocurrency markets. The crypto platform, Twitter post, said it will halt buys, and deposits and will not be buying Supercharger simulations until new strategies are implemented.
The Superchargers products, as per the Freeway website, can offer up to 43% annual yield rewards. The platform’s users can deposit fiat currencies and crypto. These are placed in regulated brokerage accounts which are leveraged for returns. Freeway is a centralized platform that combines the best of traditional finance with the best of decentralized finance. The crypto platform has not provided any specific details about its new strategies. However, it does have plans to diversify its asset base and manage exposure to future market fluctuations and volatility. Freeway, in the Twitter post, said it will notify users when they are ready to recommence partial Supercharger simulation purchases (buy-backs). It will recommence full Supercharger simulation purchases on the platform Freeway Token (FWT) Deposits and Buys.
Users have been expressing concerns in the Freeway Telegram group amid high-profile problems with crypto firms and exchanges. It’s to be seen whether Freeway will honor withdrawals, or follow other high-profile crypto platforms in permanent closure. But a Freeway moderator has been advising users to fill out a support ticket. The platform highlighted that it can’t really say anything more until the next official communications are forthcoming. It said the team is working very hard to recommence partial Supercharger simulation purchases (buy-backs).