Sirwin
Sirwin

CakeDefi Review - One month after


At the very beginning of 2021 I followed a very good advise from meme master @PVMihalache and started using CakeDeFi: mostly I was attracted by the 30$ signup bonus, (which I guess is still working, you'll receive 30$ in DFI token when you deposit at least 50$) always a good incentive to start using a service.

CakeDefi, for those who may not know, is a decentralized platform that allow users to easily put their coin at work with different tools: staking, liquidity mining and lapis. APT may vary a lot, from 2/3% with regular staking up to 200% when you lock your liquidity pair LTC/DFI.

Since I joined DFI has performed very well, surging around +300%. That means that my bonus of 30$ worth now around 90$. Not bad for a time-frame of one month.

After joining I became a little more involved in the project, and I currently am staking a little amount of DASH that i had (4.8% APY), plus I'm putting at work little earnings in Ethereum from various sources in liquidity mining (ETH/DFI pair is 153% APY).
I'm extremely satisfied: allocating resources is really easy and doesn't costs insane high gas fee, which I guess it's kind of a point in favor at this point.

At this point I will continue monitoring CakeDeFi too understand if putting more assets at work here, probably yes. When comes to DeFi, the risks that come from software development are even much higher then impermanent loss in my opinion.

News from CakeDefi

 

Speaking of monitoring CakeDeFi and its development, here's a quick look at the recent news coming from the team:

- DOGE liquidity mining feature was added at the end of January. It worked at 420% APY at the beginning, which is insane, now comes at more reasonable 161% APY. But seriously, nothing more surprise me speaking of DOGE

- Withdrawal fees for DFI are now much lower

- Transparency Report is out

 

Support my Journey to 1 bitcoin

Here's the super-trusted earners I support. Please consider using my referral if want to give them a try

BetFury - Best Earner - Crypto casino with Faucet: Top Earner!  Claim -> Play -> Stake -> Earn

Cointiply - Best Earner - Earn Bitcoins by doing offers, watching ads and PTC ads

HoneyGain - Earn for sharing your internet connection

Binance - Exchange with a lot of earning solutions

Morpher - Sign up and get your trading account funded with crypto for free

PipeFlare - Best Faucet.Pays immediately to your wallet

Global Hive- Alternative to PipeFlare

Coinbase Earn Program - XLM - COMPOUND - EOS - Earn for watching videos

Presearch Earn tokens for surfing the web

Splinterlands - The most fun-to-play Blockchain-Game

Cake DeFi -  Put your cryptocurrencies to work.

Womplay- Play mobile games and earn EOS

How do you rate this article?

4


The Very Confused Martin Babalor
The Very Confused Martin Babalor

Crypto enthusiast, NFT minter linktr.ee/bigbluepotatoesstorm


My journey to 1 Bitcoin
My journey to 1 Bitcoin

HODL mode on 'til I reach 1 BTC.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.