Decentralised Finance, Liquidity Pools & Staking
There are still some websites worth having a look at before we start discussing different wallets and the blockchains/platforms that they are best for. But, before we get started, a reminder that I am not a financial advisor and that this is not financial advice. DYOR!
DeFi, known as Decentralised Finance has become a big thing in cryptocurrency and everyone is trying to get in on it. Most DeFi platforms and apps require the use of DApp (Decentralised Applications) enabled wallets and browser wallet extensions, but there are some websites that cryptonauts can get started with.
Cake Defi offers lending servicees, liquidity mining and staking that allows one to earn more crypto with their own DFI token pairing with different cryptos for those benefits and returns that we are all looking for.
Deposit any of 6 cryptos paired with DFI into shared liquidity mining pools to mine popular coin pairs for good rewards without much trouble. You can exchange some of your crypto for DFI so that you can pair equal amounts of each (in $ value) into the liquidity mining pools on Cake Defi. They have made it very easy by allowing you to pay in one cryptocurrency and it automatically buys equal amounts of the pair that you want.
Cake Defi also offers less risky staking rewards of up to 125% APY (Annual Profit per Year) for staking DFI coins and 5.5% APY on DSH (Dash) for joining masternode pools without running nodes yourself.
There are also lending services on Cake Defi that offer a guaranteed base APY on various cryptocurrencies with the batches that you support.
Join the Cake Defi community and discover all of the above and more with their confectionery and freezer options.
