Cake DeFi Introduces New Product “Borrow” Enabling Users To Maximize Their Returns
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Singapore, Singapore, 28th April, 2022, Chainwire
Cake DeFi, a Singapore-based fintech platform that makes DeFi (decentralized finance) services and applications accessible to everyone, is thrilled to introduce a new product called “Borrow” to give its users novel opportunities to strengthen their crypto portfolios and potentially boost their returns.
The new product enables users to borrow Decentralized USD (DUSD) by pledging Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC) and DFI as collateral. Users can use a combination of these cryptocurrencies as collateral, as long as at least 50% of the collateral is DFI.
The borrowed DUSD can be used to purchase items or invest in products that generate passive income such as Cake DeFi’s Lending, Staking and Liquidity Mining, where returns north of 70% APR are rather the norm than the exception. Borrow gives users a better option than just HODLing by providing them with liquidity that they can put towards generating predictable passive income.
“We are excited to launch Borrow to provide users with more liquidity to invest in DeFi services while holding on to their assets. DeFi empowers people to generate passive income on their cryptocurrencies without the constant need to trade. It is our goal at Cake DeFi to keep bringing such innovative services to our users,” said Dr. Julian Hosp, Co-founder and CEO of Cake DeFi.
Cake DeFi is a fully transparent, highly innovative and regulated global fintech platform with over USD 1 billion in customer assets. It empowers its user base, spanning over 700,000 registered users –– and fast growing –– to earn cash flow from their digital asset
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