Cake Defi information
Description
Cake Defi is a platform with a mixture of Masternode Service and Interest System. Cake Defi users can generate passive income based on their coins. The exchange rate risk of the coins remains, but Cake is a good alternative to HODLing. Every user should still deal with the tax issue for such services.
Usability
The platform is child's play to use: safe handling of wallets, Bitcoin addresses and possibly decentralized exchanges is desirable. The staking or masternode coins can also be bought and exchanged on the platform itself. For example, the DASH masternode is particularly exciting. Not everyone can afford 1000 DASH and run their own masternode. A user can purchase part of a DASH masternode on Cake Defi.
Advantages
In addition to its simple operation, the deposits and withdrawals work very quickly and so far without any problems. The community is supported by Dr. Julian Hosp, so good German support is guaranteed. We also created the link to the German Telegram group under Help.
Disadvantages
The choice of coins does not guarantee security. The exchange rate risk with small altcoins and especially with masternode and staking coins is very high. The interest programs are very exciting, but only bring a few percent returns per year. The fees are transparent, but some users publicly denounce them.
Questions & answers
We have summarized the most important questions and answers about this provider for you and tried to answer them.
- What is the Cake Defi Coin?
- What is the Cake Defi pool?
- What is Cake Defi Lapis?
- Is Cake Defi legitimate?
What is the Cake Defi Coin?
The DFI Coin is Cake Defi's in-house crypto currency. The coin has its own blockchain, which can be seen in the Block Explorer.
Here is the most important information about the coin:
- The token is a utility token and is required as fuel for the DeFi Chain.
- Max. Cap.: 1.2 billion
- 180 DFI per block reward
- Due to the initially still small supply, the staking return at DFI will initially be almost 30% per year.
- There is no ICO. The token can only be obtained from exchanges (still to come), staking platforms and other users.
- There will be airdrops for Cake users and Bitcoin holders in general.
What is the Cake Defi pool?
With a pool, you do not participate directly in a specific device but in an existing structure of devices. As a rule, after a short start-up phase, you will receive an ongoing percentage of the network's earnings. Your deposit will also be integrated into the network. The pool makes it possible to at least partially withdraw without breaking down the entire system.