What is Cake DeFi?

cake Oct 20, 2020

Cake DeFi is one of the world's fastest growing online platforms offering access to decentralized financial services. Through Cake DeFi, we enable our users to generate returns from their crypto and digital assets.

Designed with usability, transparency, and ease of use in mind, Cake DeFi is the perfect entry-level platform for both existing and new investors looking to build wealth through the aid of decentralized financial applications.

When Julian Hosp and U-Zyn Chua founded Cake DeFi 3 years ago, the main focus was to be as transparent as possible. And this still runs like a thread through Cake DeFi - whether it is marketing, communication or operations, Cake DeFi tries to be the benchmark for transparency in the crypto sector.

What is Cake DeFi simply explained by CEO & Co-Founder Dr. Julian Hosp

What are Cake DeFi's products and services?

Cake DeFi is a young company and has already achieved quite a bit since its inception. This is especially reflected in our product range and services, which are always being supplemented with new, exciting products.

Currently, the services that we offer are Lending, Staking, Liquidity Mining and Borrow. 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? There are a number of factors to consider, including the type of crypto assets you own, the amount of funds you're willing to invest, and your risk tolerance.

It makes sense for you to use our Lending service if you consider yourself a beginner and/or have low risk tolerance.

What is Staking, Lending, and Liquidity Mining?

Let's start with our oldest product, staking. All blockchains require newly mined blocks and transactions to be validated. The more coins or digital assets users hold on the blockchain, the more likely they are to receive a reward for validation. Coin Staking on Cake DeFi greatly simplifies the process by automatically verifying transactions on the blockchain and rewarding users with the resulting returns. The process is similar to that of a savings account, where interest is paid out for holding money.

Our second oldest product is Lending. With Lending, we offer the most transparent "lending service" of any crypto company. What happens to our users' BTC and how Cake DeFi earns the returns is completely transparent for every user. We are able to achieve our competitive returns of up to 6.5% p.a. by lending to reputable institutional partners and effectively cutting out middlemen to our users and passing them on to our users.

Our newest yield generating product is Liquidity Mining - also known as Yield Farming. This involves providing liquidity in the form of cryptocurrencies to decentralized exchanges (DEXs) - in this case, the DeFiChain DEX. As with all exchanges, the primary goal is to bring liquidity to the platform; our users are then rewarded precisely for this liquidity provision.

Who is the target audience of Cake DeFi?

With Cake DeFi, we provide a platform that makes investing in cryptocurrencies fun and easy for veteran crypto investors as well as people who have no experience in this field. Our target audience is thus anyone who would like to invest in cryptocurrencies and receive a return on it.

Demographically, the bulk of our customers are classic millennials, 30 to 40 years old, well-educated and have a university degree. A large part of them have already had their first experience with Bitcoin and Co. and now want to earn additional returns on it.

For whom is CakeDefi particularly well suited?

We founded Cake DeFi with the goal of creating an easy and intuitive platform for decentralized financial services for both crypto beginners and seasoned investors. Therefore, Cake DeFi makes decentralized financial products accessible to all ages, even your mother can do it!

What coins can I buy on Cake DeFi?

Through our partners BANXA and Transak, our users can quickly and easily deposit Bitcoin (BTC) and Ether (ETH) into their Cake DeFi account. Purchasing DeFiChain's native coin DFI is also possible through Cake DeFi. The purchase process generally takes only a few minutes and is completed with a few clicks. After a successful purchase, the coins will automatically appear in the Cake DeFi account.

Cake DeFi does not have its own token. Unlike other lending platforms, we also do not have a so-called "Company Coin". The DFI Coin is the native coin of DeFiChain, a blockchain project that is trying to bring Decentralized Finance to Bitcoin.

Click here to sign up for Cake and secure your $30 USD sign-up bonus when you allocate at least $50 into the Freezer or a Lending batch.

Twitter: https://twitter.com/cakedefi
YouTube: https://youtube.com/cakedefi
LinkedIn: https://linkedin.com/in/cakedefi
Facebook: https://facebook.com/cakedefi
Medium: https://medium.com/@cakedefi



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