Cake DeFi launches a new product: Earn

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Cake DeFi has announced the launch of a new prod­uct: Earn, ded­i­cat­ed to the remu­ner­a­tion for dif­fer­ent types of cryp­to deposits. 

Cake DeFi’s new product, Earn

Cake DeFi is a trans­par­ent and inno­v­a­tive fin­tech platform.

It pro­vides its users with decen­tral­ized finan­cial ser­vices that allow them to gen­er­ate attrac­tive returns on their dig­i­tal assets. 

The com­pa­ny is man­aged and reg­is­tered in Sin­ga­pore and is there­fore sub­ject to the laws and reg­u­la­tions applic­a­ble in Singapore.

The new Earn ser­vice is pre­sent­ed as a hybrid prod­uct suit­able for cryp­to investors who want to make a return on their assets while, at the same time, try­ing to low­er their risk percentage.

As such, Earn allows users to earn com­pet­i­tive returns on their cryp­to assets with low volatility.

It presents itself as a one-sided liq­uid­i­ty min­ing ser­vice that pro­vides dai­ly rewards, pro­tect­ing, as much as pos­si­ble, users from mar­ket volatility.

Statements from Cake DeFi’s co-founder.

Dr. Julian Hosp, co-founder and CEO of Cake DeFi, said:

“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. E

ARN 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.”

Cake DeFi’s Earn is thus a ful­ly trans­par­ent prod­uct that will allow users to gen­er­ate com­pet­i­tive returns while at the same time try­ing to pro­tect them from mar­ket volatil­i­ty and tem­po­rary losses. 

Users will be able to allo­cate Bit­coin (BTC) or DeFiChain (DFI) to receive rewards in the native coin every 24 hours, with approx­i­mate­ly 10% annu­al per­cent­age yield (APY)

Returns in Earn will also be auto-com­pound­ed to gen­er­ate even greater returns.

How does EARN seek to protect users from market volatility

The volatil­i­ty pro­tec­tion fea­ture of Earn aims to pro­tect users from tem­po­rary loss­es by cov­er­ing poten­tial loss­es dur­ing dras­tic fluc­tu­a­tions in cryp­tocur­ren­cy prices.

Tak­ing the best of both worlds, Earn com­bines the high returns of Liq­uid­i­ty Min­ing with the low volatil­i­ty tra­di­tion­al­ly asso­ci­at­ed with cryp­tocur­ren­cy lending. 

It is a new and unique way to gen­er­ate cash flow from the allo­ca­tion of exist­ing cryp­to assets with­out coun­ter­par­ty risk and pro­tec­tion against tem­po­rary losses. 

Users will also have full trans­paren­cy of their invest­ments as they are allo­cat­ed direct­ly on the DeFiChain blockchain.

To be more spe­cif­ic, users will get 1% cov­er­age for every 24 hours they par­tic­i­pate in the Earn product. 

Thus, the longer a cus­tomer invests in Earn, the broad­er their cov­er­age will become.

E.g., a user who allo­cates and main­tains funds in Earn for 100 days will receive 100% volatil­i­ty pro­tec­tion on those same funds.

That said, it should be not­ed that the volatil­i­ty pro­tec­tion depends entire­ly on the pool bal­ance. This means that full cov­er­age is not guar­an­teed even if a user obtains 100% cov­er­age under the con­di­tions described above.

Cake DeFi’s track record

Dur­ing the recent peri­od, the plat­form has grown rapidly.

The best quar­ter for the project was Q2, evi­dence of which is the expo­nen­tial increase in cus­tomers, fund­ed accounts, and payments.

The data are clear, the num­ber of cus­tomers recent­ly exceed­ed one mil­lion and the plat­form has paid out a total of $375 mil­lion in rewards through the end of Q2 2022, despite the gloomy mar­ket outlook. 

Now Cake DeFi’s imme­di­ate pri­or­i­ty is to con­tin­ue to grow its cus­tomer base, seek­ing to improve finan­cial inclu­sion to make DeFi more acces­si­ble to both con­sumers and businesses.




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