Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Cake DeFi ‘Borrow’ Feature To Enable Over 70% APR Staking

Cryptocurrency Apr 28, 2022 11:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Cake DeFi ‘Borrow’ Feature To Enable Over 70% APR Staking
 
USDT/USD
0%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
BTC/USD
+0.07%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DNR/USD
-27.84%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
USDC/USD
-0.01%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

  • Cake DeFi is proud to announce its latest product — Borrow.
  • Users will be able to borrow Decentralized USD (DUSD) by pledging BTC, ETH, USDC, and DFI as collateral.
  • The network has over $1 billion in customer assets

Singapore-based DeFi platform Cake DeFi is proud to announce its new product — Borrow. The new product will allow users to borrow Decentralized USD (DUSD) by pledging crypto assets such as BTC, ETH, USDC, DFI as collateral. The DUSD that users borrow can be used in various ways to generate good income.

Cake DeFi, with its new product, aims to strengthen its users’ portfolios and potentially boost their rewards. With that, the network enables its users to experience a staking APR rate as high as 70%. Hence, users can enjoy earning good returns despite the wild volatility characteristic of the market.

Dr. Julian Hosp, Co-founder and CEO of Cake DeFi explained,

We are excited to launch Borrow to provide users with more liquidity to invest in DeFi services while holding on to their assets. DeFi empowers people to generate passive income on their cryptocurrencies without the constant need to trade. It is our goal at Cake DeFi to keep bringing such innovative services to our users.

In terms of market stability, the network has over $1 billion in customer assets. It is composed of 700,000 registered users that keeps growing over time. Network users are empowered to earn cash flow from their digital asset investments.

Furthermore, Cake DeFi also provides the technology for its users to borrow Decentralized USD (DUSD) with their existing Bitcoin (BTC), Ether (ETH) Tether (USDT), USD Coin (USDC), and DFI as collateral. However, it is subject to a collateralization ratio of 200% and 5% annual percentage rate (APR).

Moreover, the DUSD can be utilized too in purchasing tokens, staking and liquidity mining to name a few.

On the other hand, Cake DeFi has experienced tremendous growth in 2021. A total of $230 million were paid out to customers as rewards in 2021; $75 million of it in the final quarter. In the near term, Cake DeFi’s immediate priorities are to continue growing its customer base as it aims to reach $10 billion in total customer assets by the end of 2022.

Continue reading on CoinQuora

Cake DeFi ‘Borrow’ Feature To Enable Over 70% APR Staking
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email