Do you know CakeDeFi? The most transparent way to put your crypto to work? CakeDeFi has shared masternode staking and Lapis options, which allow users to earn transparent cashflow from crypto. DeFi products, podcasts and educational videos are also available free of charge. The platform empowers crypto-holders to get control of their finances by generating residual income, so you have to check it out!
What if you could join CakeDeFi and get a nice share of DeFiChain (DFI) tokens only for registering? I am not selling anything, I am sharing this opportunity to get a new crypto in the portfolio.
To fully understand how this collection of tools works, please allocate 3 minutes of your life to watch the video
CakeDeFi will give $20 worth of DFI to all new members, and an additional $10 if registering with a referral code. I will leave my referral at the end of the post, and you have a choice to use it or not. The sign up bonus is credited after the first deposit and will be locked for 180 days. The referral bonus will be locked as well, but once locked, the DFI starts earning interest.
CakeDeFi has a member tier benefit system and at the moment I am a Sweet Tooth, having 24.4 frozen DFI. The DFI price unit was $0.60 last week and when I created my account was a bit over $1. In the last 24 hours it grew to $1.34, so joining early was definitely an advantage.
Let's get into a deep analysis of CakePool and why this is an opportunity that will bloom in the summer. The bonus will be locked for 180 days, but in all this time will generate profit, and it is auto-compounding so once you created the account you can just leave it dormant for 6 months. Set a memo in the summer and come-back to enjoy the bonus and all the generated extra. I said above that the bonus will be activated after the first deposit, but guess what? You can transfer as little as 1 satoshi to activate it, as is not a set cap for this (maybe not yet!). The other box that must be ticked is a full tier status for the account, which means that the user must upload a proof of ID and a proof of address. This is just a method to prevent multiple accounts.
The verification may take up to 24 hours, but for me it took about 8 hours until I received the confirmation email. Considering that I uploaded my documents on Boxing Day, I think the waiting was amazingly short. After this step, I could deposit and get my slice of cake.
As you noticed, I like to test and review platforms, so I sent $13 Ethereum, just for the sake of the experiment. The transfer was smooth and reached the CakePool wallet in about 1 minute. I had the option to auto-compound the batch, which I did.
This is how my balance was looking after the deposit, on the 26th of December, sometime in the evening. I received 24.4 DFI, which was automatically locked for staking for 180 days.
The Ethereum Lapis, as all other products, is fully trackable and the profit can be checked at any time. I like this level of transparency. Batch 42 will start on the 1st of January and will close on the 29th of January, with an expected 7.51% APY. Once is full, users have to wait for the next batch to add their entry. When the Lapis will reach maturity, the entry and reward will be credited. The few days gap between Lapis gives users the option to add their assets in the new Lapis, once the old one reaches maturity.
I will use this screenshot of my CakeDeFi balance, as a reference as how this started, so I will have a starting point for future analysis. While writing this post, 12 hours after the screenshot, my balance already improved, having $35.32 worth of DFI.
DeFiChain (DFI) grew bigger like dough, and the unlocked assets will give me reasons to be jolly. I like cake and may the summer bring a lot of sweetness! Please feel free to bring any feedback regarding CakeDeFi, and the tools they use.
- This article may have been published on ReadCash or Publish0X