Cake DeFi Prospers in Troubling Periods
With the chaos in the cryptocurrency market this year, it’s a surprise that a certain coin is still able to make money while others like bitcoin and Luna are making considerable losses and finding it hard to get out of the situation in which they find themselves.
Considering this is just the first Quartile, the crypto ecosystem will have to struggle a lot to be able to come out of the sticky situation in which it finds itself. Hopefully, Bitcoin and others can recover from the significant losses they have suffered.
As we know, the crypto market is a very broad one, with different investment options and choices to pick from. This gives you a way to make a profit and gain from more than one source, and that’s what the investors of Cake DeFi did.
They were knowledgeable enough to spread their funds across by lending out, staking, and applying other strategies, thus earning themselves some gains in this constantly declining market.
Cake DeFi To The Rescue!
The investors with funds in Cake DeFi would have a huge smile on their faces, as they have seen one or two of their strategies gain them a significant amount of profit amidst the current situation of the crypto market.
As surprising as it sounds, Cake DeFi made a reasonable flow of income for its investors, as it released $73 million as a reward to investors in the first quartile of 2022, just like it did late last year. All this is happening while the crypto market is experiencing a lot of hardship.
How Cake DeFi Saved the Day
Cake DeFi created opportunities like liquidity mining, staking, and lending out for members to gain passively to balance the incurred losses during the market crash.
Those who invested their funds into liquidity mining are the happiest of all investors as they saw 75% interest from all their deposits in just a year. Investors that staked their funds also gained an annual percentage yield (APY) of 31.5%, while lenders gained 6.5% APY in a few weeks.
In addition to the different ways to spread one’s funds, Cake also just added “Borrow”. A means which makes the borrowing of decentralized USD possible by making use of BTC, ETH, Tether, or USDC as a form of collateral.
Borrow also permits individuals to pledge a set of these assets, provided that at least fifty percent of the total guarantee is DFI, Cake DeFi’s native token. Cake is known for its dedication to the growth of DeFi and web 3.0.
So while the crypto market is suffering, those who decided to venture into other ways to make use of their excess assets, have finally seen the rewards of such a decision and have managed to make significant profit.