From today, you’ll be able to freeze your DFI coins for even higher staking rewards. When you put your DFI coins into the Freezer for 5 years, you will receive 1.5x the staking rewards. That’s an extra 50% on top of what you’d be receiving previously! Now for the icing on the Cake (pun intended), when you freeze your DFI coins for 10 years, you’ll receive double the staking rewards!
How is it possible to offer such lucrative returns we hear you ask? Well, it’s simple. Following a recent vote passed by the DeFiChain project and community — which enabled a 5 year and 10 year masternode lock-in mechanism with greater rewards — Cake DeFi Freezer users will also receive greater returns as they’ll be issued directly via the blockchain.
It’s important to note that this is only applicable for the 5 year and 10 year Freezer allocations. Tenures that diverge from it are not applicable to receive the 1.5x, respectively double staking rewards.
How Does it Work
Our Freezer product now allows you to receive standard rewards, 1.5x the standard rewards and double the standard rewards. Special nodes hosted directly on the DeFiChain blockchain allow for increased rewards, which will be redistributed back to our bakers. However, these higher rewards only apply for freezing periods of 5 and 10 years, as part of DeFiChain’s emission structure. Furthermore, you will not receive any discounts on the fees re-distributed back to you when you freeze your coins for 5, respectively 10 years.
In order to keep our bakery tidy, we have implemented an internal tracking system that checks for the distribution of these new five and ten year nodes. The system is designed in such a way that these special nodes are automatically added when users decide to freeze for five and ten years and are taken off the "grid" if there is no further need for them after the expiry of the freezing period.
The best part always comes last. Your frozen DFI coins also count towards your Confectionary score in our VIP program. If you freeze your DFI for 10 years you not only get double staking rewards, but your DFI value will count double towards the Confectionary score. Phenomenal benefits are reachable up to twice as fast with our new long term DFI staking Freezer.
Existing Bakers With 5 and 10 Year Freezers
All of our bakers who want to enjoy higher rewards can upgrade their current Freezer to the new and improved 5-year or 10-year Freezer at any time. It is important to note that you will not be automatically upgraded to the new freezer – you have to freeze your DFI again for five or ten years to enjoy higher staking rewards.
To give you an example, if you had entered into a 5-year Freezer and still have a lock-in period of 4 years and 9 months remaining, you can extend the lock-in by 3 months to go back into a 5-year lock-in, and receive 1.5x the staking rewards.
It’s important to note however, as this is offered via DeFiChain, it will be a fixed arrangement and therefore, it won’t be possible to downgrade or cancel an existing Freezer entry.
In addition, it won’t be possible to upgrade a new 5-year Freezer to a new 10-year Freezer, as a means to to receive 2x instead of the 1.5x rewards. This is because special nodes are created on the DeFiChain blockchain, and Cake DeFi has no power to change or alter these masternodes.
If you want to be able to have your slice of cake and eat it too, then you can buy and invest your BTC, ETH and other popular cryptocurrencies on Cake DeFi.
Your Cake Team