Криптоплатформа Cake DeFi создала венчурное подразделение на $100 млн
Сингапурская криптоплатформа Cake DeFi создала венчурное подразделение с капиталом в $100 млн. Фонд Cake DeFi Ventures (CDV) возглавят CEO Cake DeFi Джулиан Хосп и CTO Ю Дзинь Чуа. Подразделение будет инвестировать в стартапы из сфер Web 3.0, метавселенных, NFT, гейминга и финтеха, CoinDesk.
Фонд в качестве поддержки предложит стартапам идеи и отраслевые связи. Однако CDV не будет входить в правления проектов, подчеркнул Хосп.
Ранее глава Национальной ассоциации участников фондового рынка (НАУФОР) Алексей Тимофеев предложил разрешить создание криптофондов в России. По словам Тимофеева, это может частично удовлетворить существующий интерес розничных инвесторов к данному сегменту.
Больше новостей о криптовалютах вы найдете в нашем телеграм-канале РБК-Крипто.
Cake DeFi Review – Is Cake Defi Safe & Legit?
There seem to be lots of cuisine-based projects emerging in the realm of DeFi. There’s PancakeSwap (CAKE), BakerySwap (BAKE), SushiSwap(SUSHI), but today we look at Cake DeFi (DFI). It’s yet another decentralized finance platform, complete with its own token, but what sets Cake DeFi apart from the crowd? You might be surprised.
We’ll take a closer look to see if we can find a compelling reason to get involved.
What Can You Do on CakeDeFi?
Cake DeFi offers staking, lending (here is a deep analysis by CryptoStudio), and liquidity mining. There’s no borrowing option, which might not be a bad thing as we shall see. You can earn a yield from swap-fees and mine DFI, the proprietary platform token. According to CoinMarketCap, the DFI Chain token is currently worth around $3.15 with a market cap of around $1.3 billion, ranking as the #210 altcoin.
Liquidity Mining
Lend your crypto to a Shared Liquidity Pool to receive block rewards in Cake DeFi native DFI token, and earn swap fees in your chosen cryptocurrency. At the moment the community is limited to lending Bitcoin, Ether, USDT, LiteCoin, Bitcoin Cash, and Doge. If something sounds too good to be true, it probably is, and with claims of over 80 and 90% APR, I am naturally skeptical.
So what’s the catch? Simple, the interest is paid in the native DFI tokens that Cake DeFi control. There’s no guarantee your DFI tokens will be worth anything when you decide to cash them in. There are limited exchanges where you can trade DFI, so an exit plan is required before you get involved.
The market value of DFI tokens depends on the success of Cake DeFi, and the success of Cake DeFi depends on the market value of DFI. This co-dependency hints at potentially unstable economics. Runaway effects are likely should Cake DeFi need to release excessive volumes of DFI to support their guaranteed returns in the event of a sustained market crash.
Staking
Stake your DFI or DASH by buying shares in a master-node pool. You earn 1 token per share with twice daily payouts for DFI and more or less daily for DASH. DFI and DASH are the only staking options, so perhaps they will add more in the future. Again, the returns look better than one could reasonably expect, at 85.1% APY for DFI – so what’s going on here? Let’s take a closer look at the 85.1% claim.
Nodes are the computer engines that work to provide security, stability, and functionality to a network. It’s expensive and time-consuming to set up a full node, and only experienced crypto fanatics should attempt this. Proof of Stake nodes can be a very lucrative enterprise for those that have both the funds and tech skills.
Cake DeFi Master Node Pools allow entry to everyone by selling shares, each of which will pay out 1 token at regular intervals. It sounds great, but they are paying you in DFI tokens, which cost Cake DeFi nothing to release, being a proof of stake platform.
The more DFI tokens they release, the less they become worth, and with only 400 million out of the 1.2 billion in circulation so far, there’s potential for extreme inflation. The bottom line is that your actual yield depends entirely on the current price of the DFI token.
Lending
Their lending service promises guaranteed returns plus a potential bonus, should the price of your asset increase over the time of the contract. It works like this –
There are fixed-term ‘Batches’ for BTC, ETH, and USDT that last 28 days. Once the 4 week period starts, you may not withdraw your funds until the end. The returns are quoted 7.5% to 8% APY which sounds like a more attainable ambition. There’s a capped total starting limit for each Batch, and once fully subscribed, it’s locked until the contract expires.
4-week contracts start every Friday at 4 pm Singapore time for each asset (BTC, ETH, and USDT). We can see that the upcoming BTC Batch had a 30% take-up on the last day. The ETH Batch is over 90% subscribed with USDT only pulling in 16.3% of the potential million USDT.
A bonus kicks in when the underlying cryptocurrency’s price exceeds a predetermined threshold. So for example, on top of your guaranteed 5% interest payment, you would receive a further 2.5% APY. If the price stays the same or decreases, you only receive the 5% guaranteed portion of your rewards. At the end of a contract, all your released funds plus rewards are compounded automatically into the following 4-week contract.
Cake Defi – Earn High Yields On Your Crypto (Review)
Have you ever wanted to use DeFi services, but you aren’t sure how to do so?
Cake DeFi makes DeFi services like staking and liquidity mining really accessible, even if you don’t have any technical knowledge!
Here’s how this platform can help you earn high yields on your crypto:
Cake DeFi Review
Cake DeFi provides 3 main services that aim to grow your crypto assets. The only fees you are charged are liquidity mining reward fees, as well as fees for withdrawing your assets from their platform. Cake DeFi is very transparent with their transactions, which makes it a rather safe platform to grow your assets.
Here is this platform reviewed in-depth:
What is Cake DeFi?
Cake DeFi is a platform that helps retail investors take advantage of decentralised finance (DeFi) services, even though they do not have the technical knowledge to do so. You are able to use their DeFi services and start earning a high yield on your crypto.
Simply put, Cake DeFi makes DeFi services accessible to anyone. This saves you the hassle of having to know how to stake your coins!
All you’ll need to do is transfer your crypto assets to Cake DeFi’s platform, and you can start using their services.
You can consider using Gemini to send your crypto to Cake DeFi as they do not charge you any fees for your first 10 withdrawals. Furthermore, Gemini’s Active Trader platform only charges you up to 0.35% for each trade you make.
Cake DeFi does not have any minimum deposit. This means that you can start earning rewards on your crypto, no matter how little the amount is.
- BCH
- DASH
If you’d like to find out more about Cake DeFi, you can check out this video by their CEO, Julian Hosp:
How does Cake DeFi work?
Cake DeFi provides a variety of services to help you to earn interest with your crypto. This includes Liquidity Mining, Staking, as well as Lending. All of these services will help to make your crypto work harder for you and grow your crypto portfolio.
Here are each of these services explained in detail:
#1 Liquidity Mining
Liquidity Mining allows you to deposit a token pair into a liquidity mining pool to mine rewards.
- BTC-DFI
- ETH-DFI
- LTC-DFI
- USDT-DFI
- BCH-DFI
- DOGE-DFI
Some of these pairs have extremely high yields too!
However, you’ll need to deposit both tokens together in the liquidity mining pool.
For example, you may want to deposit into the BTC-DFI pool.
You can choose the amount of BTC or DFI that you wish to deposit inside.
If you’ve chosen a certain amount of BTC, Cake DeFi will show you the corresponding amount of DFI to deposit too.
The rate of BTC-DFI will be locked for 30 seconds.
You’ll be able to see the amount of shares you’ll receive for adding liquidity to that pool.
The higher number of shares you own, the higher the rewards you’ll receive!
Your rewards will be paid every 12 hours. You can check the total amount of each currency you’ve earned from liquidity mining on the app.
However, I do find that the display of these rewards could be improved, particularly for BTC.
#2 Staking
You are able to stake your coins on Cake DeFi as well.
You can only stake cryptocurrencies that are on a proof-of-stake network.
- DASH
You are able to earn a really high yield on your DFI tokens!
Once you’ve staked your tokens, Cake DeFi will issue you your rewards on a periodic basis.
Staking can be rather complicated, as you have to run a masternode by yourself. Cake DeFi makes it really simple by running the masternodes for you.
Moreover, you can start staking your coins with no minimum amount required!
Each DFI or DASH token that you stake is considered as 1 share. You can see the number of shares that are available to stake.
If there are no more available shares, you can no longer stake your crypto!
#3 Lending
Cake DeFi started out as a lending platform, which is very similar to others like:
Cake DeFi offers a lending batch for each currency every week. Each batch lasts for 4 weeks, and your crypto will be locked up during this period.
This is slightly more restrictive compared to the platforms above. However, it is comparable to Crypto Earn as well.
Furthermore, the rates of each batch may change over time.
- BTC
- ETH
- USDT
The lending rates are not as attractive compared to other platforms.
For both BTC and ETH, there is a base reward rate that you will receive.
However, if the price of BTC or ETH increases more than 20%, you will be able to receive the higher rate!
The interest that you can earn when BTC or ETH does well is slightly higher compared to BlockFi.
Even if the price of BTC or ETH goes down, you still will be guaranteed the base reward rate.
There is no minimum amount required
When you want to lend your BTC, you are able to lend as small as 0.0001 BTC!
This allows you to earn rewards on your crypto, no matter how small the amount.
You can choose how to compound your rewards
- Do not enter the next batch automatically
- Compound the amount that you lent
- Compound both your base amount and your returns
This gives you the freedom to decide how you want to compound your crypto.
There is a cap to the amount of crypto for each batch
You may want to take note that each batch has a cap on the amount of BTC, ETH or USDT that can earn the rewards.
If the batch reaches the cap, you won’t be able to deposit your crypto!
The services provided are very easy to use
Cake DeFi makes liquidity mining and staking really easy to use, especially if you’re a beginner to crypto.
If you were to stake crypto by yourself, you would need to know how to run the staking nodes by yourself!
If you want to do liquidity mining such as through Uniswap, you would need to have an Ethereum wallet too!
With Cake DeFi, you can buy crypto through an exchange, and then transfer it to their platform.
After that, you’ll just need to deposit your crypto into one of the 3 features to start earning rewards!
Does Cake DeFi have an app?
Currently, Cake DeFi is a desktop-only platform. However, Cake DeFi intends to release a mobile app in the future.
This is slightly restrictive, especially if you are looking to check your rewards on the go.
What are the fees I will incur when using Cake DeFi?
Cake DeFi receives a commission from their partners for providing the lending services. However, they do not charge any fees directly to you.
Cake DeFi also allows you to buy crypto directly from fiat. They have currently partnered with 2 institutions:
When you buy crypto through these platforms, you may incur a transaction fee.
No fees charged for exchanging crypto
You can choose to exchange your BTC or ETH for either DASH or DFI.
This is particularly useful when you can’t buy crypto on Cake DeFi! As a Singaporean, Cake DeFi does not offer the ‘Buy Crypto’ function to me.
You are not charged any fees when making this swap.
However, you may lose a bit from the spread!
This was Cake DeFi’s exchange rate between DFI and BTC,
The difference may seem little, but you can lose some value when you’re exchanging a large amount of BTC!
Cake DeFi charges withdrawal fees
If you want to withdraw your crypto out of Cake DeFi’s platform, you will be charged withdrawal fees.
This depends on the currency that you intend to withdraw.
The withdrawal fees may be quite high, and may change from time to time.
However, the good thing is that you’re able to see the fees you’ll incur before making a withdrawal.
This will help you to decide if it’s worth withdrawing your crypto to another platform!
Is Cake DeFi safe?
Cake DeFi aims to be very transparent with each transaction on their platform. They publish quarterly reports on their YouTube channel. Furthermore, the blockchain addresses of their masternode pools are public. This allows anyone to track all of the transactions on Cake DeFi.
By being very transparent with all of the transactions on their platform, you can be reassured that your assets are rather safe with Cake DeFi!
If hackers gain access to Cake DeFi, they are only able to steal the funds from the hot wallet, which only contains a small percentage Cake DeFi’s holdings.
However, just like any other DeFi platform, you would have to trust in Cake DeFi’s technology. Anyone can use their platform, which makes it extremely accessible.
However, this also means that if you lose your money on Cake DeFi, no one will be able to help you!
This is in contrast to centralised finance (CeFi), where you are trusting the company to be a custodian for your assets. If anything goes wrong, you still can rely on the platform to help recover some of your funds.
DeFi certainly has higher risks compared to CeFi. However, these risks come with higher rewards.
You’ll need to decide if it’s worth the risk to earn these higher rewards!
Is Cake DeFi regulated by the MAS?
Cake DeFi was founded in Singapore, but it is currently not under regulation by MAS. However, Cake DeFi’s parent company (Cake Pte. Ltd) has submitted their application for a Payment Services Act License. This License is required to handle Digital Payment Tokens in Singapore.
In alignment with Cake DeFi’s transparency goal, they are aiming to be compliant with the MAS.
When you create an account with Cake DeFi, you would need to undergo a Know-Your-Customer (KYC) Assessment.
Even though the process is a bit tedious, I was really impressed when my KYC application was approved in minutes!
The KYC assessment is a requirement by the MAS to prevent cryptocurrency being used for money laundering.
Is Cake DeFi legit?
Cake DeFi provides an easy way for you to grow your crypto assets with just a few clicks. It is one of the most suitable platforms if you’re very new to this space. Furthermore, Cake DeFi is extremely transparent with their transactions. This should assure you that Cake DeFi is a well established platform.
The interest rates that you earn when lending may not be that competitive, especially for USDT.
However, staking and performing liquidity mining is really easy on their platform! You may want to consider using Cake DeFi for these 2 services, instead of their lending feature.
Overall, Cake DeFi is a platform that you can seriously consider to multiply your crypto assets.
���� Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
Cake DeFi Referral (Receive $30 USD worth of DFI tokens)
If you are interested in signing up for a Cake DeFi account, you can use my referral link.
After making your first deposit of ≥ $50 USD worth of crypto, you will be able to earn $30 USD worth of DFI tokens!
Here’s what you’ll need to do:
- Make a deposit of ≥ $50 USD worth of crypto into your Cake DeFi wallet
- Receive $30 USD worth of DFI tokens ($20 base + $10 referral bonus)
Your DFI tokens should be credited to you on the following Monday.
The DFI tokens that you earn will be locked up for 180 days in the Confectionery program. You will be able to earn the base APY for staking DFI tokens.
Even though your DFI is being locked up, you are still able to earn rewards on it!
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Cakedefi — Earn Crypto While You Sleep
LEARN & EARN | LIQUIDITY MINING | STAKING | LANDING
T his Article will teach you everything there is to know about Cake DeFi. The goal is to provide you with an overview of the platform’s function and products, as well as my Cake Defi experience. In general, you should be able to invest with Cake DeFi and understand what happens to your money or cryptocurrencies with the help of this guide. Please keep in mind, however, that you should be reasonably comfortable dealing with cryptocurrencies. Only invest if you understand what is going on on the platform.
Julian Hosp and U-Zyn Chua founded Cake DeFi in Singapore in June 2019.
T he stated goal is to make decentralised financial services (DeFi) and cryptocurrencies accessible to and usable by all. It also intends to generate cash flow. Julian Hosp, in particular, is a well-known crypto-influencer in German-speaking countries, where he has been active for many years.
Cake is built on the DeFi Chain blockchain, and the DFI is the associated coin. As a result, the “base currency” in which Cake rewards (your return) are paid out is almost always DFI.
Cake DeFi, like most other crypto platforms, has a guided signup process because it is a regulated platform. The registration process is simple and quick. After submitting the necessary documents, you can usually begin investing within a few hours, or at most 1–2 days.
A valid ID is required, as well as recent selfies of yourself. The entire procedure is designed to meet KYC (Know Your Customer) requirements and to prevent money laundering. Simply follow the steps until they are completed. Then you can begin immediately.
Cake DeFi PaymentTransactions
Of course, before you can invest in Cake DeFi, you must first deposit cryptocurrency(s) into your wallet. You have three options for this:
Purchasing cryptocurrency with fiat money (e.g. Euros).
Coin exchange/swap
Transfer funds into the wallet using blockchain technology.
CakeDeFi’s Operation
On Cake, you can invest in the following options or products.
CakeDeFi Review : Earn Daily Crypto Returns 2022 — CoinCodeCap
CakeDeFi is gaining popularity in the cryptocurrency space. It enables anybody to stake their cryptocurrency and begin…
1) Crypto Landing
C rypto Lending enables you to lend your cryptocurrencies to others in exchange for a fixed interest rate. In this case, Cake will take care of everything else. Simply transfer your coins to Cake and “deposit” them into Lending.
If there are no cryptocurrencies to lend in the wallet yet, proceed to the depositing or buying section above. If there are, you can begin immediately. There is one minor difference between my previous Cake Defi lending experiences: lending is always done in batches. This means that the cryptocurrencies are held for a set period of time before being lent. The deposit can still be adjusted as long as the accumulation is still running.
Select Lending under Products on the Cake website, followed by the appropriate batch that corresponds to the coin you want to lend.
The interest rates vary depending on the cryptocurrency you wish to lend. Some cryptocurrencies also have tiers of interest rates based on the currency’s future price. Here’s an example from the world of Bitcoin.
When you click “join,” a dialogue will appear in which you can enter how much of your cryptocurrency you want to lend. Choose how much cryptocurrency you want to lend and you’re ready to go.
Take note of the selection option for the automatic reinvestment setting in the next dialogue. After the batch expires, you have the option.
1) Do not reinvest automatically at all,
2) Reinvest only the initial investment amount automatically, or
3) At the end of the batch, automatically reinvest your initial investment plus accrued interest.
The final step will provide you with a summary of your settings and conditions. Check the box to confirm your acceptance of the terms, then click “Join” one more time. You’ve finished the rental process. You are ready to go as soon as the start date is reached.
You have the option to change your settings until the batch’s final start. For configuration, select the appropriate batch.
2) Staking
S taking is another interesting way to invest in Cake and generate returns in the form of cash flow. With your cryptocurrencies, you can participate in a masternode pool for which staking is available. As a reward for contributing your coins to the Masternode pool, you will receive a portion of the Staking Rewards. After deducting a processing fee, which Cake will retain directly, your rewards will be paid out to you twice daily as interest.
Select “Staking” and the corresponding cryptocurrency you want to stake on the Cake website, under Products. Stake should be selected.
You select the number of staking shares you want to purchase in the following dialogue. The basic formula is as follows: 1 DFI equals 1 share of the pool. So, if you want to deposit 100 DFI, enter 100 at “I buy,” and 100 DFI will be automatically calculated on the right side.
What’s new from my Cake Defi experience is that you can now buy DFI staking shares with other supported cryptocurrencies. To do so, use the dropdown menu on the right to select the currency you want to use. Add how many shares you want to buy to the left, and it will automatically calculate how much it will cost you.
Take note of the following: during this process, the chosen cryptocurrency is automatically exchanged into, say, DFI and thus “spent.” If you do not want to do that, you should obtain the staking currency in another manner. The process is completed when you click Stake, and you have successfully completed your staking.
Another crucial feature of Cake DeFi is also concealed on the Staking page. It is the reinvestment of your Staking Rewards on an automatic basis. You will only be able to achieve the stated interest rates if you enable the “Automatic Compound Interest” feature.
The interest rates shown are the so-called APY (Annual Percentage Yield), which is the interest plus compound interest. In theory, there is no reason not to use automatic reinvestment; otherwise, the interest earned will sit “uselessly” in your wallet. Unless you use the freezer, you can withdraw coins from your staking account at any time. But we’ll get to that later.
To set the compound interest function, look for the function “Automatic compound interest” in the upper area (green frame) of the Staking page and click on the down arrow on the right (green arrow). You can toggle the compound interest feature on and off at any time.
If you want, you can remove your coins from the staking at any time. Of course, you will receive fewer rewards as a result. It is also possible to add more coins at any time.
3) Freezer for DFI
You can literally freeze your DFI for a set period of time using the Freezer. The benefit of this is that you can save fees and thus increase your interest and cash flow depending on the duration of your freezer.
As previously stated, Cake retains a small portion of your staking Coins Rewards as a “service fee” for processing and providing the Masternodes. The longer you keep your freezer, the more money you save. The disadvantage is that your DFI has been frozen for a set period of time and cannot be withdrawn or exchanged under any circumstances.
Another thing to keep in mind is that even if you place DFI in the freezer, the APY for staking is dynamic and not fixed.
There is also a nice tool on the Freezer page where you can experiment with different DFI amounts and time periods. You can experiment with the various parameters without any obligation to see what the end result would be for you (green frame).
A “Stake DFI” button is located at the tool’s bottom. This is for the previously described “normal” staking. Further to the right, you’ll see the “Freeze now” button (green arrow). Attention: the settings for the freezer that you set in the tool above are overwritten in the following dialogue. As a result, double-check your settings before clicking “Freeze.”
Now we arrive at the final and most exciting product that you can use at Cake. This is referred to as Liquidity Mining (LM). If you are unfamiliar with Liquidity Mining, you can learn more about it in the Crypto Lending Tutorial (download).
Cake currently provides LM for the following cryptocurrency pairs:
BTC-DFI
ETH-DFI
UST-DFI
LTC-DFI
BCH-DFI
DOGE-DFI
Of course, before you can join the LM, you must have enough cryptos in your wallet to meet your needs. The value of both currencies you put into the pool must always be equal in LM.
Cake recently updated the LM interface, making it a “one click investment” by default with “Simple Mode.” This means that when you enter your currency into the LM, half of it will be automatically converted to DFI. If you have 100 USDT in your wallet and add it to the LM, 50 USDT will be converted to DFI to balance your pair.
This has both benefits and drawbacks:
Benefits: You don’t have to worry about purchasing DFI at a comparable price.
Drawbacks: half of your initial currency is sold, and the price at Cake is likely not the cheapest.
By selecting “Products” and “Liquidity Mining,” you will be directed to the LM page. Look for the pair you want to join there. Then select “Add Liquidity.”
Simple Mode does not appeal to me. On the Add Liquidity page, deactivate the Simple Mode with a switch on the bottom left to display the “classic” dialogue.
After you’ve chosen your LM pair, opened the dialogue, and turned off Simple Mode, the next step is to decide how much of your cryptocurrencies to put into the LM pool. By selecting “Max,” you will select everything available.
To reiterate, the pair in the LM must always be perfectly balanced in terms of value. As a result, if you enter a value on one side, the countervalue on the other side will be calculated automatically. As a result, the currency you have less of in your wallet is also a limiting factor in your deposit.
The DEX market price stability bar indicates how well-balanced the LM pool is at the moment. A higher percentage is preferable.
Clicking “Add” will bring up all of the details again, which you must confirm before proceeding.
How Cake DeFi makes money?
So far, my Cake Defi experience has taught me that the company’s business model is essentially built on two pillars:
Cryptocurrency aggregation.
Liquidity mining and staking fees
Cake aggregates the cryptocurrencies that its customers lend into larger blocks and brokers them on for a set term in aggregation. Details on this can be found in the crypto tutorial (download).
As previously stated, Cake deducts a small service fee from your staking and liquidity mining rewards. These are the second source of revenue for Cake.
Is Cake a profitable business?
Cake DeFi is a relatively new company. However, according to its own data, it is already very profitable.
There is, indeed. Sign up for Cake DeFi using my link and receive $35 in DFI as a bonus. The home page only says $30, but you get a total of $35. You can also refer friends and acquaintances if you are registered. To do so, go to the Cake website and look for your personal referral link under the Referral section. There is also a detailed description of how the referral programme works on the page.
If you sign up with CakeDeFi, use this referral code 335951 to receive $30 in DFI as a Sign Up Bonus + $5 Learn and Earn
In addition, if you deposit $50, you will receive an additional $20 as a first deposit bonus.
Sign up by clicking here.
2. Verify your mail and log in.
3. Complete your KYC verification.
4. Now make a deposit worth $50 of any supported currencies.
5. You will get $30 worth of DFI coins + $10 Learn and Earn, if you’ve signed up using the above referral link else you will get only $20 worth of DFI coins.
6. Also get $10 worth of DFI for each referral.
The rewards will be locked for 180 days in the Confectionery program but you will automatically earn 37% interest during this time.
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