Cryptocurrency Tutorial | Cake Defi | Cake Defi Review

Cryptocurrency Tutorial | Cake Defi | Cake Defi Review

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Welcome to Our Cryptocurrency Tutorial Video!

Cake DeFi is a Singapore-based staking, lending, and liquidity pool platform, enabling users to deposit and earn yield on a variety of tokens.

Despite the “DeFi” nametag, Cake DeFi is a custodial platform that offers a suite of features built around various DeFi products.

Cake DeFi offers three primary products: Lending, Liquidity Mining, and Staking– each generates different rates of yield and has different requirements

About Cake DeFi
Cake DeFi is a Singapore-based fintech company that was founded in 2019 by crypto and blockchain veterans Dr. Julian Hosp and U-Zyn Chua, that operates under the guidance and authorization of the Singapore Government - which makes it a highly reliable, secure and transparent company.

Cake DeFi is a highly transparent and easy to use platform that allows users to earn cash flow on their cryptocurrency while holding on to them.

The DeFiChain DFI Token
Cake DeFi built many of its services around the DeFiChain (DFI) token.

DeFiChain is a non-Turing complete blockchain that aims to enable decentralized finance on Bitcoin. DeFiChain runs on a PoS consensus mechanism, and it anchors its most recent Merkle root to the BTC blockchain.

Cake DeFi Lending
Cake DeFi’s rates for lending are competitive with their true DeFi counterparts. It advertises a “guaranteed” Base APY– with bonus returns if the price of the native coin goes up during the lending period.

Deposits are lent in “batches” where users deposit digital assets (BTC, ETH, USDC, or USDT) and the coins are locked in options contracts for four weeks. The batch lasts for 28 days, and starting and ending on a Friday.

After the four-week period, users can automatically roll over into the next batch, withdraw their entire principal and return to their Cake Wallet, or withdraw only the proceeds.

Liquidity Pools
Cake DeFi offers shared liquidity mining pools where users can earn yield in pairs between popular coins and the DFI token.

These liquidity pools pay a yield upwards of 68% (subject to change). Cake takes 15% as a fee on all rewards.

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The information contained herein is for informational purposes only. Nothing here shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Cryptocurrency Tutorial video. Make sure to leave a like on the video if you gained value from it!

#CakeDeFi #DFI #DeFi #Crypto #Bitcoin #btc #earn

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⏰ Time Stamp ⏰

0:00 intro
0:27 cake defi introduction
9:31 summary