Cake DeFi says EARN offers daily rewards with up to 10% APY, while users benefit from complete transparency.
Cake DeFi, a Singapore-based decentralised finance (DeFi) company seeking to bring crypto opportunities to the masses, has formally launched an investment product that will see customers access competitive returns on their assets while enjoying protection against market volatility.
The platform first introduced EARN on 12 September.
Cake DeFi’s EARN to “address market needs”
As noted EARN is a hybrid product that offers “a single-sided liquidity mining service” that should see an increasingly risk-averse market not worry about returns, liquidity or risk of insolvency as recently observed over the crypto winter.
With many centralised finance (CeFi) platforms hitting bankruptcy among other troubles recently, users are turning to projects such as Cake DeFi’s centralised decentralised finance (CeDeFi) platform.
The market is also benefiting from a hybrid approach where providers are offering access to both liquidity mining and crypto lending – combining high yields with the latter’s low volatility to help consumers.
“Our latest product EARN was launched to address today’s market needs. With the crypto winter settling in, investors have become increasingly risk-averse, especially since many Centralised Finance (CeFi) platforms have become insolvent or are facing liquidity issues. As a Centralised Decentralised Finance (CeDeFi) platform, our business is to provide our users with good yields on their crypto investments with complete transparency,” said Dr. Julian Hosp, Co-Founder and CEO of Cake DeFi.
What else makes Cake DeFi Earn different?
According to Cake DeFi, EARN will offer users access to rewards with up to 10% APY, either for Bitcoin (BTC) or DeFiChain (DFI) – you allocate one asset and receive rewards in the native coin. EARN also offers autocompounding of returns to allow users to benefit from even greater yields.
As well as using on-chain tools to track their investment’s performance, customers are assured of protection against impermanent loss. This option is available via the Volatility Protection feature, the firm announced.
Cake DeFi is announcing the EARN feature on the back of stellar growth during Q2, the fintech platform’s strongest quarter of 2022. This was reflected in the platform’s Transparency Report, with numbers for customer growth, payouts and funded accounts all showing massive upticks.
Leave a Reply