Most altcoins have started to gain in value even when Bitcoin and Eth may not have regained their recent all-time high.
DFI token has hit another all-time high of $2.58 on 14 Jan 2021 about an hour ago at the time of my post.
Below is a screenshot that I had taken from Coinmarketcap.
Ever since the starting of its new Dex as well as liquidity mining, DFI token has been performing really well.
Just imagine that DFI token was not even a dollar a month ago but many investors and stakers have invested because of the potential of the service that the new Dex of Defichain can provide.
Since Defichain is built out of the fork of Bitcoin, it is probably an improved version of the possibilities of what the blockchain can do.
With ETH dominating most of the Defi market, Defichain is standing out with its dedication in providing fast and transparent decentralized financial services to everyone around the world.
As a registered company in Singapore, it is definitely governed by the strict regulations of Singapore government that makes it a trustable company.
The hassle of installing the Defichain software to stake or liquidity mine directly on its blockchain may have led to many investors to choose the alternative, Cake Defi.
Cake Defi is under the same founders of Defichain and it is also a registered company in Singapore with an official permanent office.
I have used the service of Cake Defi for more than half a year and I have yet to face any difficulty since no software installation is needed to stake at Cake Defi and we can even access our account using our mobile web browser.
Staking DFI at Cake Defi gives me a generous reward of 37% APY that is a lot higher than most staking service out there.
Recently, there is a change in the terms of the sign-up bonus at Cake Defi.
In the past, $20 worth of DFI tokens would be awarded after the 1st deposit and there is no minimum stated. Cake Defi has just announced that the $20 worth of DFI tokens would now require new users to have a 1st deposit of at least $50 to qualify for it.
The additional $10 worth of DFI tokens would be given for those who sign up using a referral link.
The free $30 worth of DFI tokens would be locked for 180 days with staking reward of 37% APY.
As Cake Defi is a registered Singapore company, there is a need to complete KYC before the full access to its service after signing up for an account.
The unique part about staking at Cake Defi is that there is no lock-up period for what we invest and stake. We can stake and unstake within minutes.
The lock-up free DFI tokens would still earn staking rewards that can be drawn or reinvest.
It is really uncertain how long this referral program will stay the same as DFI token is getting popular.
DFI token was only about $0.16 about six month ago. When someone bought it at a dollar, many may have felt that it was too expensive but those who may have bought it after a dollar are still making a good profit if we consider the current price of about $2.50.
It does look like DFI token is dashing to break into $3 that would be another new milestone for it.
It went down to $1.70 just about two days ago due to the dumping of Bitcoin but it actually recover faster than the speed of Bitcoin at this moment.
Most DFI investors would have commented that DFI tokens hardly go down in price and it has been progressing steadily in price actually.
You can find out more or join Cake Defi using my referral link below.
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that.