The staking platform and decentralized exchange Stakecube recently went insolvent and it's founder left for greener pastures. Popular interest bearing cryptos like BTC, LTC, and ETH were locked and funds were put in a held status. The dev team has stepped up and come up with a plan to try to get the site back in business.

They have issued debt tokens representing the amount owed in each of the held assets. Users can trade the debt tokens for their counterparts on the open market. The problem: BTC Debt tokens are currently trading at 1/10 of the actual value owed! I guess that's a bargain if you believe the assets will be repaid but not great news if you were hoping to recoup your assets anytime soon.

The dev team has announced some new partnerships and still has a base of users who use the site primarily for masternodes. They seem to want to do the right thing but that will be hard to do with users leaving the site or no longer depositing funds.

I only had a small portion of  BTC on the site to earn interest but many users really trusted the site and it'll be sad if it dies out. Hopefully, the dev team can keep it going long enough to pay back the assets owed.

What do you think of this new strategy would you feel safe sending deposits there again?

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