Cake DeFi Launches Its EARN Product For Conservative Crypto Investors

Twitter icon  •  Published 1年前  •  Hassan Maishera

Singapore-based fintech firm Cake DeFi has announced the launch of EARN, its product designed for conservative cryptocurrency investors.

Cake DeFi, the leading and fastest-growing Singapore-based fintech firm, providing easy access to Decentralized Finance (DeFi), has announced the launch of EARN.

EARN is Cake DeFi’s latest product, allowing users to generate returns via a single-sided liquidity mining service while protecting users against market volatility.

Dr. Julian Hosp, Co-Founder and CEO of Cake DeFi stated that; 

“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 Centralized Finance (CeFi) platforms have become insolvent or are facing liquidity issues. As a Centralized Decentralized Finance (CeDeFi) platform, our business is to provide our users with good yields on their crypto investments with complete transparency. You can always trust Cake DeFi because you can always verify. EARN will allow users to get unbeatable returns on Bitcoin, which they can track transparently on the blockchain. The Volatility Protection feature will also protect them against impermanent loss, especially in such times of market volatility.” 

According to the press release shared with Cryptowisser, Cake DeFi said its EARN is a fully-transparent product that will allow users to generate competitive returns while being protected against market volatility and impermanent loss. 

Cake DeFi users can allocate either Bitcoin (BTC) or DeFiChain (DFI) to receive rewards in the native coin every 24 hours, at approximately 10 percent annual percentage yield (APY). Returns in EARN will also be autocompounded to generate even greater yields. 

Cake DeFi introduced the Volatility Protection feature, which helps address concerns about market volatility and its impact on user funds. This feature aims to protect users against impermanent loss, covering potential losses should crypto prices fluctuate drastically.

Cake DeFi added that EARN combines the high yields of Liquidity Mining with the low volatility traditionally associated with crypto lending. The team explained that EARN is a new and unique way of generating cash flow from allocating existing crypto assets with no counterparty risks and protection against impermanent loss. Users will have full transparency of their investments as they are allocated directly on the DeFiChain blockchain. 

Cake DeFi remains one of the fastest-growing crypto projects despite the ongoing bear market. The project recorded its strongest quarter yet in Q2 2022 when it comes to customer growth, funded accounts and payouts.

The project recently crossed the 1 million customer mark and has paid out a total of $375 million in customer rewards to date as of the end of Q2 2022 

Cake DeFi is a fully transparent, highly innovative fintech platform dedicated to providing access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. It is operated and registered in Singapore and is subject to applicable laws and regulations in Singapore.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.