Cake DeFi: A One-Stop Shop for Generating Yield

Cake DeFi: A One-Stop Shop for Generating Yield

The company’s Lapis Service makes it easy for users to generate high returns on assets that are not currently proof of stake such as Bitcoin and Ethereum. The company presently achieves 8-9% interest for its users via weekly batches that lock for four weeks.

Interestingly, Cake does not take “DeFi” to mean lack of compliance oversight. The company leverages the best aspects of blockchain technology by providing full transparency on both its Pool and Lapis Service.

To balance between security and transparency, the trades within each Lapis Service batch are hashed and later publicly revealed at the end of the batch. This allows batch participants and even the public to review the specific details of each trade – including the strike price, premium, and settlement price.

Cake plans on beefing up its product portfolio by launching USD lending in Q3 2020 as well as other fiat integrations. Cake’s fiat support will signal the company’s shift in strategy toward offering a blend of CeFi and DeFi solutions all in one platform.

One of the company’s unique offerings is being the first staking provider for DeFiChain (DFI) – a fully decentralized blockchain designed specifically for high speed DeFi transactions. Users earn 25% APR on Cake’s DFI Pool, with block rewards paid every 26 seconds.

The fact that Cake offers a way for users to earn interest not only through staking with DASH, PIVX, Zcoin, DeFiChain (DFI) but also through Bitcoin and Ethereum options presents another unique use case of CeFi meeting DeFi. For this reason the company recently surpassed ten percent week-on-week growth for new users and deposits.

Cake presents users the convenience and flexibility of pooling tokens with no lower limit. The company also offers weekly statement reports, and processes for real-time compounding – allowing users to take advantage of the wonders of compounding interest in a single click.

Overall, Cake DeFi’s name may mislead those who think that DeFi always translates into products that are hard to use. Cake combines the best elements of DeFi and CeFi for users to take advantage of some of the highest rates that staking and centralized finance can offer, all in a simple way through a Singapore registered and licensed entity.

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The post Cake DeFi: A One-Stop Shop for Generating Yield appeared first on Bitcoin News.


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