Cake DeFi, major decentralized cryptocurrency wallet, introduces new low-risk product, EARN
A single-sided liquidity mining service by Cake DeFi is designed to protect cryptocurrency users from the increased volatility of cryptocurrency markets.
Cake DeFi introduces EARN income protocol
According to the official statement shared by the team of Cake DeFi, a Singapore-based noncustodial digital assets management protocol, it is ready to unveil passive income solution EARN.
Cake DeFi is now more than 1 million users strong 🎉
This milestone was only possible because of the continuous love & support of our incredible community.
— Cake DeFi (@cakedefi) September 14, 2022
Since the initial releases, Cake DeFi supports two assets, Bitcoin (BTC) and DeFiChain (DFI). Users can allocate both and earn up to 10% in APY in a seamless and decentralized manner.
Also, EARN solution will support an auto-compounding mode to generate even more significant returns.
Dr. Julian Hosp, co-Founder and CEO of Cake DeFi, highlights the innovative and user-oriented approach of EARN that is designed to introduce the DeFi sphere to a new generation of users:
Our latest product EARN was launched to address today’s market needs. 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.
Impressive 10% APY, unmatched transparency
Amid the cryptocurrency winter, Cake DeFi leverages EARN to address major users’ concerns: EARN’s Volatility Protection feature protects users from impermanent losses.
Technically, Cake DeFi’s EARN merges the benefits of centralized cryptocurrency lending protocols (low volatility) and decentralized liquidity mining instruments (low APY rates).
As covered by U.Today previously, Cake DeFi recently obtained a license in Lithuania, one of the leading global cryptocurrency and fintech hubs.