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Cake Defi, a Singapore based DeFI giant, now allows you to stake Ethereum and earn 5% APY via Singapore based nodes in a move towards further decentralisation. Cake Defi has over a million active users and boasts over $1 billion managed in customer assets. Some of the key features of Cake DeFi Cake DeFi will […]
Cake DeFi, a renowned fintech firm that provides easy access to Decentralized Finance (DeFi), has today announced the launch of EARN - a new addition to its portfolio of fintech products and services.
Cake DeFi, a Singapore-based fintech firm, announced on September 13th the launch of its global R&D hub, Birthday Research.
Talking Points Cake DeFi, a cryptofinance platform located in Singapore, has now published its Q2 Transparency Report, detailing the firm’s
The Singapore-based cryptofinance platform Cake DeFi has now launched its Q2 Transparency Report, which details the company’s accomplishments for the
Cake DeFi, a regulated Singapore-based crypto fintech firm that offers services such as liquidity mining, crypto lending, borrowing, and staking, has released its Q2 Transparency Report that suggests the company is cash flow positive and will remain so for at least four years – even if the bear market translates to more pain for the crypto industry.
Cake DeFi’s Q2 overviewWhile bankruptcies and other aspects of turmoil hit the market, the Monetary Authority of Singapore (MAS) registered startup summarises in its report that Q2 2022 was indeed “its strongest quarter yet.”
This, Cake DeFi notes, is deduced from the platform’s numbers relating to customer growth, total payouts and funded accounts.
Looking at the numbers, user growth averaged +3.25% weekly, while Q2 payouts hit $58 million to bring total payouts to customers to $375 million. The figure since inception stood at around $317 million at the end of Q1.
Several crypto companies have significantly cut their headcounts over the past few months, with many freezing hiring amid the bear market crunch. Cake DeFi says it is still hiring, and remains cash flow positive, boasting of a 4-year runway should things go south across crypto.
Transparency is essentialSome crypto companies operate in a “black box”, with shady investment deals that have ended up hurting customers. Cake DeFi says it does not work like that.
According to the firm, transparency is essential to its operations, with customer assets segregated from company operating accounts. As such, Cake DeFi only acts as a ‘one-stop-platform for DeFi users, with customers retaining full control of their funds. Unlike some CeFi platforms, the platform does not commingle customer and operational funds.
About Cake DeFiCake DeFi, which also offers decentralised assets (dTokens for assets like Apple and Tesla stocks or the S&P 500) was co-founded in 2019 by Dr. Julian Hosp (current CEO) and U-Zyn Chua (CTO of DeFiChain Foundation).
The startup has more than $1 billion in customer assets under management. Earlier this year, it debuted Cake DeFi Ventures, a $100 million venture fund aimed at advancing growth within the Web3, eSports, and gaming sectors.
The post Cake DeFi: growth continued in Q2 despite crypto winter appeared first on Invezz.
Cake DeFi, a Singapore-based cryptofinance platform, has just released its Q2 Transparency Report, shedding light on the progress it made during the quarter.
Continue reading Cake DeFi: A Quick Overview at DailyCoin.com.
Cake DeFi gets ahead of FUD (Fear Uncertainty and Doubt) with their latest blog post, quelling any fears that users’ funds are at risk. Covered: Cake DeFi Emphasizes Transparency And Its Status As A DeFi Platform Cake DeFi Emphasizes Transparency And Its Status As A DeFi Platform With the recent crypto market turmoil in mind, […]
The post Cake Defi Emphasizes ‘Transparency’ During Time Of Crypto Market Turmoil appeared first on CryptosRus.
Cake DeFi just made a big move into the European market that could quell investor fears of investing in DeFi. Covered: Cake Granted License From Lithuania Regulatory Friendly DeFi: Have Your Cake And Eat It Too Cake DeFi Granted License From Lithuania Singapore-based Cake DeFi announced today that it has been granted a cryptocurrency license […]
The post DeFi Protocol Snags Regulatory License In Europe appeared first on CryptosRus.
Cake DeFi, the fastest-growing Singapore-based Decentralized Finance (DeFi) platform, is delighted to announce that it has received a cryptocurrency license from the Registrar of Legal Entities of Lithuania.
One of Singapore’s fastest-growing Decentralized Finance (DeFi) platforms has secured a crypto license from the Lithuanian Registrar of Legal Entities.
Customers of Cake DeFi platform will now be able to get cash loans by placing their cryptocurrencies as collateral. (Read More)
Cake DeFi is proud to announce its latest product — Borrow. Users will be able to borrow Decentralized USD (DUSD) ...
Cake DeFi, a Singapore-based decentralized finance investment platform, has launched its new $100 million venture capital arm. (Read More)
Decentralized financing platform Cake DeFi, has formed a corporate venture arm with a budget of US$100 million in designated funds.
The post has appeared first on thenewscrypto.com
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