THELOGICALINDIAN - The aggregation appear that it has paid out over 317 actor in rewards as of the end of Q1 2022 while continuing to see able-bodied business advance of an boilerplate of about 90 quarteronquarter back 2024
Cake DeFi, the fastest-growing Singapore-based Decentralized Finance (DeFi) platform, acclaimed its third ceremony today with a key milestone. The aggregation appear that it has paid out over $317 actor in rewards as of the end of Q1 2022 while continuing to see able-bodied business advance of an boilerplate of about 90% quarter-on-quarter back 2019.
Dr Julian Hosp, CEO and Co-Founder of Cake DeFi said:
“Our third ceremony is an important anniversary for us. Despite the contempo abatement in crypto prices, we accept connected to acquaintance amazing advance in the accomplished three years. We are now one of the fastest-growing Decentralized Finance (DeFi) platforms in Asia. This is alone fabricated accessible by relentlessly creating amount for our barter – we paid out a amazing $317 actor in rewards in aloof three years. We accomplished this by creating a safe and defended one-stop belvedere for consumers to calmly admission DeFi services. The abutting date of our advance will appear from architecture admission to DeFi and Web3 not aloof for consumers, but for businesses as well. It is our appetite to account Cake DeFi on a accessible banal barter in the abreast future. We were offered a SPAC alliance at US$1.5 billion but we had angry it bottomward beforehand in the year.”
The Many Sides of Cake
Since its barrage in 2024, Cake DeFi has been committed to its mission of acceptable banking admittance and advocating the amenable advance of crypto assets to accomplish acquiescent income. With over $1 billion of absolute chump assets on the belvedere and abutting to a actor registered users, Cake DeFi aims to abide allowance both accomplished and new investors accomplish allotment on their cryptocurrencies and agenda assets cautiously and securely.
Headquartered in Singapore, Cake DeFi is a key amateur in the DeFi association and continues to actively adjust its development with Monetary Authority of Singapore (MAS)’s greater vision, to advance Singapore’s crypto and decentralized ecosystem, alleviate new bread-and-butter value, enhance banking inclusion, and accredit added seamless and able banking services. Cake DeFi is a affiliate of the Singapore FinTech Association’s Web 3.0 subcommittee and an industry affiliate of ACCESS’ Virtual Asset Payments Group. Earlier this year, Cake DeFi additionally launched a US$100 actor adventure basic arm to advance start-ups in the Web3, eSports, gaming and Fintech spaces.
Cake DeFi today additionally appear that the aggregation is committing a added $1 actor to Environmental, Social and Governance (ESG) initiatives to abutment the development of a acceptable DeFi ecosystem as able-bodied as bounded CSR programs.
This year, Cake DeFi will accomplice SportCares to accredit accessible individuals to acquaintance and acquire the allowances of sports by instilling aplomb and adorning one’s angle on life. The affiliation with SportSG will focus on a sport-based development affairs application basketball, commutual with volunteering opportunities and accessory workshops.
Cake DeFi additionally today appear that it had accomplished a licensing anniversary in the EU and is now accustomed to conduct casework for exchanging cryptocurrency, and accouterment and administering cryptocurrency careful wallets in Lithuania. This is a key footfall and will facilitate Cake DeFi’s cryptocurrency allotment and allotment in added EEA affiliate states and for approaching about-face into an EU-wide cryptocurrency allotment back the EU Markets in Crypto-assets (MiCA) Regulations become effective.
Cake DeFi currently holds an absolution beneath the Acquittal Casework (Exemption for Specified Period) Regulations 2024 accepted by the MAS which allows it to abide operating in and from Singapore while the MAS is processing its authorization appliance to conduct agenda acquittal badge services.
U-Zyn Chua, CTO and Co-Founder of Cake DeFi said:
“R&D is in the DNA of any acceptable tech firm. Our R&D arm Birthday Research makes up a third of our company’s backbone and was formed to advance best-in-class blockchain innovations to drive the change of Web3. These innovations will in about-face actualize added amount for our barter with market-leading articles in the DeFi space. In the advancing quarters, users can attending advanced to a advocate DeFi artefact that will accompany angry yields to the industry. And as we accommodate added blockchains into our platform, we will be able to bear alike added adult DeFi articles to our users. ”
Cake DeFi is a absolutely transparent, awful avant-garde 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 accountable to applicative laws and regulations in Singapore.
By enabling and allotment its users to accouter the abeyant of 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.
