What is Cake DeFi?,
How do I use this services?,
Is your platform safe?
What Is Cake DeFi?
Cake DeFi is a Singapore-based fintech company founded by our CEO, Dr. Julian Hosp, and our CTO, U-Zyn Chua in 2019, to provide an easy-to-use platform that aggregates various DeFi applications and services. It is accessible to crypto investors worldwide, enabling them to generate passive income from their crypto assets securely and securely.
What is the purpose of building such a platform? The main reason stems from a personal dilemma experienced by one of the founders, Julian, back in 2019. Then, he had to solve an age-old problem of making money without selling his cryptocurrencies, which ultimately led to the creation of Cake DeFi: a one-stop shop for cryptocurrency investors to generate returns while still owning their cryptos and enabling them to make informed investment decisions based on their risk tolerance and AI algorithms.
You may watch this video to know how both founders ended up working together to develop Cake DeFi from the ground up.
What Services Do We Offer?
Currently, the services that we offer are Lending, Staking, Liquidity Mining, Borrowing and EARN. These services can easily be viewed or accessed by simply clicking on the “All Products” menu button on top of the home screen (if you’re using your browser) or “Bake” (if you’re using the Cake DeFI mobile app).
How can you determine which service is right for you? Several factors to consider include the type of crypto assets you own, the number of funds you’re willing to invest, and your risk tolerance.
It makes sense to use our Lending service if you consider yourself a beginner and/or have a low-risk tolerance.
What is Lending?
It is exactly what the term implies: you lend an asset with the understanding that it will be returned with interest. And what assets can you lend using our service? You may lend Bitcoin (BTC), Ether (ETH), USD Coin (USDC) or Tether (USDT).
How do you use our Lending service?
If you’re using a browser, simply go to the lending section of our website, click the “ENTER” button displayed on your preferred crypto and key in your preferred amount. If you’re using the Cake DeFi mobile app, simply go to “Bake” and follow the same instructions.
What is Staking?
True to its literal meaning, staking is the act of committing your cryptocurrencies to support a blockchain network by contributing to its security and efficiency.
So, how do you use our Staking service?
First of all, it should be noted that this service is most suited for intermediate level crypto investors. Also, you may only use our Staking service if you have ETH, DASH or DFI – the native cryptocurrency of the DeFiChain blockchain.
With that, you may participate in staking through our service by simply going to the staking section of our page (if you’re using a browser) and clicking on the “STAKE” button at the bottom of your preferred cryptocurrency.
If you’re using the Cake DeFi mobile app, simply go to “Bake” and take the same steps.
To know more about Cake DeFi Service, you may click here.
What is Liquidity Mining?
Simply put, Liquidity Mining allows crypto investors to receive liquidity mining rewards by providing liquidity to a decentralized exchange. You always have to allocate a crypto pair into a liquidity mining pool – like BTC and DFI.
How do you use our Liquidity Mining service?
Although Liquidity Mining is most suited for advanced level crypto investors, almost anyone can participate by simply going to the Liquidity Mining section of our page (if you’re using a browser) and “ADD LIQUIDITY” in the Liquidity Mining pool of your choice.
What is Borrow?
In finance, the term borrow simply means “to obtain or receive money on loan with the promise or understanding that it will be repaid”. Crypto investors who do not wish to sell their crypto assets but want to receive funds to support their lifestyle or generate cash flow by using them as collateral can use Cake DeFi’s “Borrow” service.
How do you use our Borrow service?
If you wish to use our Borrow service and receive DUSD as funds, you must first download the Cake DeFi app. Once you’ve downloaded the app, simply go to “Bake” and choose “Borrow” from the options
From there, you can start borrowing by pledging DFI as collateral or combine it with Bitcoin (BTC), Ether (ETH), Tether (USDT) and USD Coin (USDC) (as long as 50% of the collateral is DFI).
What is EARN?
EARN is a revolutionary DeFi service that allows Cake DeFi users to generate cash flow from their BTC or DFI. It can also be described as a one-sided liquidity mining service that offers more stability and security.
How do you use EARN?
If you’re familiar with liquidity mining, great – EARN works the same way, except that users are only required to allocate one type of crypto. So, how does it work? The processes involved are as follows:
- User allocates one type of crypto.
- User’s crypto will be paired with another crypto (depending on the type and amount of crypto allocated) and then invested into a Liquidity Mining pool.
- Rewards will be paid out every 24 hours, minus Cake DeFi’s fees and a fixed percentage of which will be contributed to the volatility protection pool. These rewards will be in the same type of cryptocurrency that the user allocates.
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Is Our Platform Safe?
Our short answer to this question is, “Yes!” Cake DeFi is one of the most secure – if not the most secure – DeFi platforms in the crypto space.
In fact, just a month ago, we successfully completed a security audit conducted by top IT security consultancy firm Cure53 – which, particularly, gave positive remarks on our UI, backend API, and underlying servers.
We are also very proud about the asset custody and segregation protocols that we have put in place to establish trust with our users by ensuring that they have full ownership of the crypto funds that they have allocated into our services.
If you want to know more about how we provide transparency and protect your assets, you may click here.
Also, if you want to use our services and benefit from the many advantages that we offer through our platform, but are not yet a registered Cake DeFi user, you may click here to sign up and start generating passive income with us.
To know more about Cake DeFi Service, you may click here.
Disclaimer
Although the material contained in this website was prepared based on information from public and private sources that ampraider.com believes to be reliable, no representation, warranty, or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and ampraider.com expressly disclaims any liability for the accuracy and completeness of the information contained in this website.
