Crypto Platform Freeway With Very Unsustainable Practices And Offering Up to 43% APY Halts Withdrawals and Transactions Citing ‘Unprecedented Volatility’ , Token is Down 80%

There is a crypto staking platform called Freeway that has now halted withdrawals on their platform. In this market hard times for crypto platforms are expected, but Freeway seemed to have many unsustainable business practices.

• Freeway's main offering was their "Supercharger simulations" that offered up to 43% Annual Rewards on stakes denominated in BTC, ETH, EURO, USD, CAD, AUD and GBP. They really goofed on that last one.
• They also offered up to 21.5% per year of their Superchargers of Binance, Cardano, Polkadot and Gold.
• Staking your Freeway Token (FWT) and 15-30% (estimated) Annual Rewards.
• Referrals to Freeway and would earn you 8% of the annual rewards they earn each year for the first two years.

What I really hate about the platform is that their is extremely little information in the website when attempting to learn more about their products. The best you get is a very basic overview of the products names, the fiat/crypto it's denominated in and the apparent APY only. There's also a several minute long video that doesn't explain anymore more. And that is all you get.

Freeway claimed it had somehow obtained $160 million in TVL. On the website currency a popup shows states that there is unprecedented market volatility and that Freeway would be allocating capital to their underlying portfolio and would temporarily not be being back Supercharger buy-backs. They also state that "when" they do restart buy-backs, they would start partial buybacks and then full buy-backs. The buy-back just means that you buy the "Supercharger" asset from them when you deposit and they buy it back from you in exchange for your owed cash when you are ready to withdraw so that you can actually withdraw money.

Freeway token has fallen 80% from a market cap of less than $70 million before the crash and now $10 million at current trading prices. @Fatman on Twitter has noted that Freeway has been deleting team names off the website.