Sirwin
Sirwin

My first year CAKE DeFI Review - Did I get scammed?? Or did I get Cake?


So I deposited my initial deposit (which should be over 50 dollars) to get the $30 sign-up bonus in April. At that time using their calculator it looked like locking up that bonus for 10 years would turn it into 50K. So I wrote a little piece on that:

Can I really turn my $30 CAKE DEFI sign-up bonus into $50K by staking...

Now of course I had some doubts but hey what is $50 during last year's bull run? But after more research and some feedback on the article, I got cold feet and took out my $50 investment in May. Still, CAKE allowed me to keep the sign-up bonus that I locked for 10 years. So I had nothing left to lose. More on that in this article:

Follow Up: Was this Realistic? - Turning my $30 CAKE DEFI sign-up bonus into $50K by staking

Now over the course of this year, I have been hearing a lot of things about Cake.

It started out with people initially claiming that it´s a scam. Over time the boys that cried scam grew silent, or started stating that we were lucky because we were early. These voices grew more silent over time and lately, I did not hear any negativity. And that has been my own experience as well.

A taste of Good Cake

 I have withdrawn my initial $70 investment after a month. After withdrawing my investment I was still allowed to keep my Sign-up bonus- Great.

I have made over 20 withdrawals since (to my Kucoin wallet )with no issues- Great

Withdrawal fees have always been 0.2 CAKE which is 80 cents and which looking at a global skill is still fair and did not change - Great

I get weekly and monthly updates on my investment that are clear and concise - Great

The total value of my withdrawals so far is about $400 at the current DFI value. And my current holdings are about $400. My referrals provided me with about $500, my own investment was $70 so the APY I received in my first year was $230 - Really Really Great.

As per my previous articles I know there are some shady businessman stories out there regarding CAKE but they have been around for over 2 years in the crypto space, and in crypto that means you´re a dinosaur.

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So if you ever doubted CAKE DFI I honestly have had an amazing experience so far and even their customer care has been very supportive that one time that my Kucoin DFI wallet was in maintenance causing the transaction not to arrive in a couple of hours. Really really Great.

Future Perspective

If the APY remains this juicy and I would not withdraw any funds it would at up to 30K in 10 years....which is not the 50K I planned to make from my referral bonus....but still is a lot of CAKE...or dollars whatever you prefer....

Now, I don´t wanna sound like a cake fanboy, so I will bring up the only negative thing I have experienced as well. If I can call it negative as it´s more like a mystery experience.

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The Big Cake Referral Mystery

Now I have been receiving referral bonuses for a year, but not as big as the last 2

You received a sign-up bonus.

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Now I have received 32 sign-up bonuses over the last year, the first one being:

The bonus of 8.21917808 DFI is frozen for the next 180 days and is already working for you. Currently, you get paid 98.4% APY.

Bur that 8 DFI was my $30 sign-up bonus.

What I did notice is the API dropping over time, which I guess is normal when a project is stabilizing. But still, it´s a good return on investment. But that is not what today´s story is about.

Today is about those last 2 referral bonuses I got that were over 10 DFI, meaning over $40 dollars each??

During that first year of using CAKE, there were some interesting short-term referral actions where you could double your reward for each referral. The normal reward is $10, so that´s about 2.4 DFI which is what I received in general.

But I was not able to find anything about a huge promo for these last 2 which I received in April and February. Now looking at my referral list, I don´t even have a clue where these are coming from.

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April would have been late but possible from the sign-up on the 11th of March, but the February bonus would be very late if it relates to the December sign-up.

But in any case, people might have signed up in the past and were waiting till the market sentiment changed to make their deposit.

So I will do the frozen thing again and let this go and focus on the biggest Mystery:

Where did that 10 DFI bonus come from?

Of course, I am not complaining but I went through all my emails and I can not find any email that promises a 10DFI or 40-45 dollar bonus for bringing on a new user?

So if anyone has a clue what I overlooked, or is receiving the same huge bonuses drop me a note as I can´t stand not understanding.

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EDIT 11-04-2022

Yesterday I share my One Year Experience with CAKE DeFI and guess what happened.... CAKE sends me a great promo Today.

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My first year CAKE DeFI Review - Did I get scammed?? Or did I get Cake?

So what is the promo?

Instead of $30 you get $40 sign-up bonus for any first-time deposit of at least $50 by the end of the campaign period. 

When does it start?
The promo will commence at 18:00 SGT (10:00 UTC) on 11 April 2022 and will run until 18:00 SGT (10:00 UTC) on 25 April 2022.

So for more info on CAKE read my previous article, if you read it already and thought about joining, this is the best time. Invest $50, get $40 dollars and withdraw your $50 investment whenever you like without losing your $40 bonus.

Make sure you use a referral link because without it you only get $20: https://app.cakedefi.com/?ref=197670

That´s all folks happy Cake Egg Hunting.

Bon appetite, enjoy your CAKE or not 😋 & Hit that like button..... or not😋

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