1 MARCH 2022 – Cake DeFi, a leading Singapore-based fintech platform providing easy access to Decentralised Finance (DeFi) services and applications, has launched YieldVault to revolutionize the way we invest. The new feature was designed to be an easy and safe way for customers to earn passive income—customers can simply deposit popular crypto tokens into Cake DeFi and sit back as the platform generates attractive yields. YieldVault supports 5 tokens – BTC, ETH, USDT, USDC, and DFI. Competitive returns are possible by capitalizing on negative interest rates generated through vaults on the DeFiChain protocol. Aside from attractive rates of up to 20% returns, YieldVault also offers customers full flexibility and control on their crypto with no lock-in periods and withdrawals at any time. As YieldVault is not a liquidity mining product, there is no risk of an impermanent loss, and customer assets deposited are not loaned out to other users or institutional partners. This is in contrast to certain CeFi platforms that operate via a “black box” model whereby they offer limited transparency and control on customer funds. In these cases, customers do not have clarity on where the yields are being derived from or if their funds are being commingled with operational funds, which leave them susceptible to mismanagement and misuse.
One of the things that sets YieldVault and other Cake DeFi services apart from competing yield generating products, is that all transactions happen directly on the blockchain, so customers can always verify what’s happening with their investments. Cake DeFi has always provided full transparency on how yields are generated since its launch in 2019, and also recently granted the public access to its Merkle tree Proof of Reserves. As such, users can ensure that their funds are safe and completely accounted for because all transactions can be verified directly on the blockchain.
“The launch of YieldVault is a testament to Cake DeFi’s dedication to building innovative products that benefit our customers and the wider community. As DeFi increasingly establishes itself as a more mainstream form of investment and finance, we’re excited to bring our customers yet another trusted and accessible way to generate passive income on their crypto holdings with YieldVault,” said Dr Julian Hosp, CEO and Co-Founder, Cake DeFi. “Further, the highest level of transparency is crucial when it comes to investing, and we’re committed to providing our customers with complete peace of mind.”
For more information about YieldVault and how rewards are generated, read our blog post here.
About Cake DeFi
Cake DeFi is a fully transparent, highly innovative fintech platform dedicated to providing easy access to decentralized financial services and applications by enabling users to generate returns from their crypto and digital assets. Founded in 2019, Cake DeFi is headquartered in Singapore and subject to applicable local laws and regulations.
By enabling and empowering retail and institutional investors to harness the potential of DeFi, Cake DeFi aims to educate and inform people around the world on crypto and DeFi in a simple, easy-to-understand, and seamless manner.
For more information, please visit https://www.cakedefi.com/
For media queries, please contact:
Elissa Young
Senior Public Relations Manager, Cake DeFi (m): +65 9226 4022
(e) elissa.young@cakedefi.com
DISCLAIMER: This is a sponsored post. Binbits does not endorse any content or product on this page. While we aim to provide you with all obtainable important information, readers should do their research before taking any actions related to the company and carry full responsibility for their decisions.
