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I cannot deny that Cake Defi caught my attention when I saw one of the online articles sharing about its high APY.
Staking DFI tokens at Cake Defi can earn an attractive reward of 87% currently.
The price of DFI tokens has gone up many times since I started. When I first invested, it was only around $0.25.
It is currently around $2.82.
With a little digging into Cake Defi, I got to know that it is a registered company in Singapore so this does boost our trust in Cake Defi.
Being a Singapore registered company can be quite a booster as most people would know that Singapore has strict regulations and laws to keep peace and order.
Both its founders have good reputations with solid portfolio.
After the release of the new Dex of DeFiChain, I was able to see how the price of DFI tokens grew steadily for most days.
I have already earned and taken out my initial investment actually and my current stake is only my profit that is still generating income passively.
There is also a good referral programme to reward us to refer others to Cake Defi.
I would personally think that staking DFI tokens with a 87% APY is really profitable.
Just imagine that we can almost double our investment after a year by reinvesting back our profit if we choose to.
There is auto-compound function that we can simply leave it on to have a good passive income.
For new users, there is a free $20 worth of DFI tokens after the 1st deposit of at least $50 at Cake Defi.
Those who sign up through a referral link can still get the additional $10 worth of DFI tokens.
Referral link: https://pool.cakedefi.com/#?ref=610483
A total of free $30 worth of DFI tokens.
These free DFI tokens would be locked up for 180 days with staking rewards as a bait to ensure new members would have experienced Cake Defi for six months as well as to prevent abusers from selling their free reward.
Staking and unstaking of DFI tokens has no lock-up period actually. I have always stake and unstake within minutes but removing our liquidity mining may take a few hours.
I agree that the need to complete KYC can be really a hassle but as a Singapore registered company, this is one of the ways to prevent illegal money laundering so that Cake Defi can protect against itself from legal issues.
You can find out more or join Cake Defi using my referral link below. https://pool.cakedefi.com/#?ref=610483
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that.
