CakeDefi is a brand-new Singapore-based crypto platform that allows users to generate new cash flow from their otherwise not very productive cryptocurrency holdings. And to make things even better, it is exceptionally user-friendly, operates with utmost transparency, and is powered by DEFICHAIN. So, let’s find out what you can do to put your cryptos to work for you!
Buy BTC or ETH
To give a broader audience the chance to participate on CAKEDEFI, the platform enables you to buy BTC and ETH directly on the site with fiat money. These purchases are handled via their partner BANXA, which manages the SEPA and credit card purchases on the CAKEDEFI platform. And now that you have the required funds, it is time to put your cryptos to work!
As with all other products of CAKEDEFI, the name already gives away what you are going to expect. To participate in liquidity mining, all you have to do is deposit your desired coins into the dedicated liquidity mining pools and start mining popular assets for high rewards with almost no hassle. After your first deposit, it can take up to 24 hours to receive your first reward, but afterward, the reward payments will occur every 12 hours, around 13:00 and 01:00 CET. And the only fees you will have to pay are 15% on all collected rewards and no fees for adding or removing liquidity from the shared mining pools.
Then there is Staking. In this case, made very simple compared to running your very own master node. This is made possible by joining the fully transparent master node pools provided by CAKEDEFI. At the time of writing, you can stake DASH with an APY of 5.4% or DFI with an APY of astounding 97.1%. And currently, there are 10 DASH master nodes and 7350 DFI master nodes up and running.
With CAKEDEFI’s new Lending services, you will earn guaranteed returns with the potential to gain further bonuses on your cryptos. Currently, the Lending options include BTC and ETH with an expected APY of up to 7.5% and USDT with an expected APY of 8%.
What is the Freezer, you might ask? Well, in the Freezer, you can lock up either DASH or DFI for a predetermined amount of time. These time frames range from 1 month to up to 10 years. And the longer you lock your funds up, the more cash flow your assets will generate. And then, you can decide whether to enjoy the monthly cash flow or compound your returns and put your gains to work as well.
The Confectionery is the special VIP service offered by CAKEDEFI. To unlock the wanted member tier, you have to freeze (lock-in) DFI tokens for staking for 180 days. Then you will gain access to higher returns and additional perks.
And last but not least, CAKEDEFI has an enticing Referral program in place to steadily grow their community and get everyone started. The program highlights include 1% p-a- on all of the investments of your referrals, the ability to track your referrals, and unlimited weekly payments.
Tier List Table
|Tier||Staking requirements||Referral Bonus||Extra APY on Lending||VIP Interface|
|Sweet Tooth||No min. Staking requirements||25% extra||no||no|
|Apprentice Baker||Min. Of 10,000 DFI freeze||50% extra||+0.5% APY||Apprentice Baker Interface|
|Master Baker||Min. Of 100,000 DFI freeze||50% extra||+2% APY||Master Baker Interface|
|Confectionist||Tailored DFI freeze||Tailored Referral Bonus||Special APY Deals for Lending||Confectionist Interface|
So, if this got you interested, you can find more information and earn yourself some easy token here.