Cake DeFi Announces Bitcoin Cash Liquidity Mining

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Written by

father, husband, writer, cryptonerd

3 years ago

Topics: Investing, Cryptocurrency, Rewards, Earn crypto, Finance, ...

I've been using Cake DeFi for a little more than a month now, and I love them. Their BTC-DFI liquidity pool has earned a steady 120-150% APY paid twice daily, and they just announced that today they will begin accepting Bitcoin Cash deposits for their sixth liquidity pool!

My experience with Cake DeFi has been outstanding, and their transparency and vision are awesome.

How do you get +100% APY?

I stumbled across a post on Reddit asking how Cake DeFi can justify these more than 100% APY rates. Please allow me to explain.

I have invested about $500 into their BTC-DFI pool. I started with $500 BTC and converted half of it to DFI in Cake DeFi. Then, I added it to the liquidity pool.

Every day, at 7:00 a.m. and 7:00 p.m., rewards are paid out. I earn approximately 0.25 DFI and just 1 or 2 satoshis in BTC (a negligible amount).

At the time of writing, DFI is worth about $3.50, so let's do the math:

[0.25 DFI] * [2 times per day] = 0.5 DFI per day
[$3.50 per DFI] * [0.5 DFI per day] = $1.75 per day
[$1.75 per day] * [365 days per year] = $638.75 per year

So I'm earning approximately $638.75 on my $500 investment. It's even more than that, though, because the DFI I earn also goes into a staking pool where it earns 37% APY compounded every 3 hours. Plus, BTC and DFI are both growing without any interest rewards--so it all adds up to a lot!

Conclusion

I've been absolutely thrilled with Cake DeFi. I love their services. I love their roadmap. I love the experience. And most of all, I love the returns!

They have plans to continue expanding their services to support more coins, and their native DeFiChain coin is growing steadily itself.

In addition to all that, they also have a generous sign-up bonus--that's the thing that got me in the door originally. I've included my referral code at the bottom of this post, but please don't feel obligated to use it. They offer a $20 sign-up bonus for everybody, but you earn $10 more for using a referral code.