Cake Defi is a reliable registered company in Singapore with its subsidiary company Defichain that is registered in Singapore too.
Cake Defi has a physical company and it follows the regulations and laws of Singapore closely.
It has an attractive staking reward of 102.8% APY for DFI tokens at the point of my post.
It has recently started a new referral promotion that will last until 8 August 2021.
By signing up using a referral link, the new member can claim a free $50 worth of DFI tokens after a minimum deposit of $50.
https://pool.cakedefi.com/#?ref=610483
Without a referral link, a direct sign-up would only receive $20 worth of DFI tokens so it is more worth it to sign up using a referral link.
The other attractive promotion is the person who referred someone successfully with a deposit of $50 would get a $25 worth of DFI tokens as a reward during this promotion period.
All these free DFI would be locked up for 180 days with staking rewards to prevent abuse of its referral programme with its attractive sign-up bonus with a total of $50 free DFI tokens.
One of the things that may hinder one from signing up is the need for identity verification.
We need to provide documents for verification: -
- Our identity - our identity card or passport.
- Our residential - utility bills or anything that has our address and name on it
Most people may be concerned about their personal information being revealed online but I personally feel that Cake Defi is reliable to safeguard our information since it is an officially registered company in Singapore.
Below is a screenshot taken from the registrar of companies in Singapore.
By signing up and getting verified, anyone can start referring new members to have a chance to earn the referral reward of $25 worth of DFI tokens for each successful verified referee with a minimum deposit of $50.
There is also a nice passive income of 1% p.a. for the investment made by our referees that is paid to us weekly.
Below is my referral link if you are interested to sign up and get the $50 worth of DFI as well as start referring people to earn referral rewards.
https://pool.cakedefi.com/#?ref=610483
I registered with Cake Defi for more than 1 year and it has always paid me on time for the referral rewards. I personally feel it is a safe company to invest since it is registered in Singapore.
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.
