THELOGICALINDIAN - Cake DeFi is a absolutely cellophane awful avant-garde and adapted all-around fintech belvedere with over US1 billion in chump assets
Cake DeFi, a Singapore-based fintech belvedere that makes DeFi (decentralized finance) casework and applications attainable to everyone, is captivated to acquaint a new artefact alleged “Borrow” to accord its users atypical opportunities to strengthen their crypto portfolios and potentially addition their returns.
Cake DeFi Introduces Borrow
The new artefact enables users to borrow Decentralized USD (DUSD) by alliance Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC) and DFI as collateral. Users can use a aggregate of these cryptocurrencies as collateral, as continued as at atomic 50% of the accessory is DFI.
The adopted DUSD can be acclimated to acquirement items or advance in articles that accomplish acquiescent assets such as Cake DeFi’s Lending, Staking and Clamminess Mining, area allotment arctic of 70% APR are rather the barometer than the exception. Borrow gives users a bigger advantage than aloof HODLing by accouterment them with clamminess that they can put appear breeding anticipated acquiescent income.
Dr. Julian Hosp, Co-founder and CEO of Cake DeFi, said:
“We are aflame to barrage Borrow to accommodate users with added clamminess to advance in DeFi casework while captivation on to their assets. DeFi empowers bodies to accomplish acquiescent assets on their cryptocurrencies after the connected charge to trade. It is our ambition at Cake DeFi to accumulate bringing such avant-garde casework to our users.”
Cake DeFi is a absolutely transparent, awful avant-garde and adapted all-around fintech belvedere with over US$1 billion in chump assets. It empowers its user base, spanning over 700,000 registered users –– and fast growing –– to acquire banknote breeze from their agenda asset investments.
Users can borrow Decentralized USD (DUSD) with their absolute Bitcoin (BTC), Ether (ETH) Tether (USDT), USD Coin (USDC), and DFI as accessory at a preset collateralisation arrangement of 200 percent and bristles per cent anniversary allotment amount (APR) (subject to change). Just like any added stablecoin, the DUSD can be acclimated to acquirement items or for advance purposes, such as accommodating in Cake DeFi’s Lending, Staking and Liquidity Mining (either anon or by swapping to added coins).
Cake DeFi has accomplished amazing advance in 2024. A absolute of US$230 actor were paid out to barter as rewards in 2024; US$75 actor of it in the final quarter. In the abreast term, Cake DeFi’s actual priorities are to abide growing its chump abject as it aims to ability US$10 billion in absolute chump assets by the end of 2022.
Cake DeFi is a absolutely transparent, awful innovative, and adapted fintech belvedere committed to accouterment admission to decentralized banking casework and applications by enabling users to accomplish allotment from their crypto and agenda assets. It is operated and registered in Singapore and is absolutely adjustable with all authoritative requirements of the Monetary Authority of Singapore (MAS).
By enabling and allotment its users to accouter the abeyant of decentralized accounts (DeFi), Cake DeFi aims to brainwash and acquaint bodies about the apple on crypto and DeFi in a simple, accessible to accept and hassle-free manner. The aggregation has launched a “Learn & Earn” programme for new users to accept the basics of crypto and be adored with crypto for the achievement of the course.
