With the current bullrun, almost every crypto is getting to all-time high so one would not be surprised that DFI token can reach another ATH.
It actually reached another all-time high of $3.93 a few hours ago at the point of my post.
It was only about $0.16 about 8 months ago and it has been making consistent growth ever since the new exchange of DefiChain was released with its high APY liquidity mining.
Liquidity mining with high APY may have impermanent loss so those who prefer the safer way can choose to staking DFI that comes with a high APY of 37%.
Staking and liquidity mining at the Dex of Defichain would need to install its software but there is an alternative to get in without installing the software actually.
Cake Defi is under the same founders of Defichain and it offers similar staking and liquidity mining.
For new users, there is a free $20 worth of DFI tokens after the 1st deposit of at least $50 at Cake Defi.
Those who sign up through a referral link can still get the additional $10 worth of DFI tokens.
Referral link: https://pool.cakedefi.com/#?ref=610483
A total of free $30 worth of DFI tokens.
These free DFI tokens would be locked up for 180 days with staking rewards as a bait to ensure new members would have experienced Cake Defi for six months as well as to prevent abusers from selling their free reward.
Staking and unstaking of DFI tokens has no lock-up period actually. I have always stake and unstake within minutes but removing our liquidity mining may take a few hours.
I agree that the need to complete KYC can be really a hassle but as a Singapore registered company, this is one of the ways to prevent illegal money laundering so that Cake Defi can protect against itself from legal issues.
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.