Decentralized Finance and its growth.
The modern financial sector is booming due to the emergence of a player called Defi (Decentralized Finance). Decentralized Finance from a layman’s point of view is nothing but a financial system which offers financial instruments without relying on intermediaries such as brokerages, exchanges, or even banks. Defi platforms allow the investors of cryptocurrencies to trade and speculate and reap the rewards. There are many defi exchanges that help in facilitating crypto trade. Cake Defi is one among them.
Cake Defi and the rewards it has announced for its users.
Cake Defi has been one of the prominent players in acting as a crypto exchange which allowed the investors to run their trade in a smooth, efficient and transparent manner. Cake Defi, which is based out of Singapore, recently announced a big statement that it has paid over $317 million in rewards to its users at the end of the first quarter of 2022.
After the unbelievable market implosion, the crypto exchanges and investors were running a pool of loses from their investments. Even amidst such a crash, Cake Defi has admitted that it has amassed over $1 billion customer assets and close to a million registered users.
The users of Cake Defi, have multiple opportunities to earn a passive income through staking, lending and liquidity mining. Let’s read them in detail.
Staking: Cake Defi’s staking program enables the users to earn an interest of 31.5% on their idle assets.
Lending: The users who deposit their funds into lending batches are provided with a rate of interest at 6.5% within four weeks.
Liquidity Mining: The users who participate in Liquidity mining can earn upto 75% interest every year.
Regulatory benefit for Cake Defi.
Cake Defi successfully secured a license to operate as a crypto exchange provider in Lithuania. The license makes sure that Cake Defi is allowed to carry out its functions in European countries and across borders of different countries, excluding the countries which have separate regulations.
The estatic CEO and co-founder Dr Julian Hosp of Cake Defi said that, despite of crypto market crash, the company has gone on to experience tremendous growth in the past three years. He announced that Cake Defi is one of the fastest growing defi companies in Asia, thanks to the safe and secure one-stop platform, providing consumers to access varied services from Defi sector. He also remarked that, the company envisions to building a defi and web3 system not just for customers but for institutions and institutional investors.