🇺🇸Announcing Cake’s Confectionery VIP Program with exciting additional benefits
Hey bakers,
We know many of you have been patiently waiting on the VIP program we teased already, the confectionery program. Today we are happy to announce that the Confectionery Program is finally launching!
Everything you need to know about the new Confectionery Program
The Confectionery Program introduces additional benefits for our most loyal and most active users.
From now on you will see a new page in the menu: Confectionery. To get to the confectionery program, click on it.
There, you should immediately see an overview of the different levels and perks you can get for freezing your DFI.
A short walkthrough on how the Confectionery works
There are 4 different levels:
Sweet Tooth: The level everyone starts in. There is no minimum DFI that need to be frozen for staking, but also no additional benefits. You only get the regular perks: 50% referral program rewards, and on the Support side a response in under 48 hours from us, the official telegram community and our helpdesk.
Apprentice Baker: To become an apprentice baker, you need to have a minimum of 10,000 DFI frozen. The additional benefits: now you get 100% referral program rewards, an additional 0.5% APY in DFI on your Lapis entries, and a special apprentice baker interface.
Master Baker: To become one of our Master Bakers, you need to have a minimum of 100,000 DFI frozen. You still get all the bells and whistles from the apprentice baker level (including an even higher additional APY in DFI on your lapis entries of 2%), but the really exciting thing is that you can now buy BTC and ETH at a 50% discount! So if Bitcoin were for example at $10,000 you could buy 1 BTC for just $5000. Please note that there is a limited amount for this and will be sold on a first come, first served basis.
You also get your own master baker interface and a dedicated support email address.
Confectionist: out of the group of Master Bakers, every month a few of them will be picked to become a confectionist. This will be selected on a first come, first serve basis — the earlier you become a master baker, and the longer you are a master baker, the sooner you will become a confectionist. Aside from all the benefits of the master baker level, as a confectionist you will also get additional, non-public deals, your own confectionist interface, a completely separate group just for confectionists, new features rolled out earlier to you (to get feedback from you, our most active users) and even in-person meetings/meet-ups once the situation with covid calms down plus even a dedicated support agent.
IMPORTANT
When you freeze your DFI, you will of course still get the Staking Rewards, which you can use freely (so they are not frozen).
Exciting, right?
How to upgrade your level
Go to the confectionary page, and click on “upgrade” under the level you want to upgrade to.
You will see a pop-up, which shows how many DFIs you still need to have frozen to qualify for the next level.
For your DFI to be freezable, please make sure you have them staked already— they can’t just be in your wallet.
Then select the amount of DFI you want to freeze and click on “freeze”.
You will now see how long your DFI will be frozen and the date that they can be defrosted.
Please note: Frozen DFI, without exception, can only be taken out (defrosted) after the indicated 180 days period. During this period, the frozen DFI staking shares cannot be moved, withdrawn, sold or anything similar. After that, you can unfreeze them with the click of a button.
Confirm this and click on “Freeze” again.
Voilà!
You just upgraded to the next level and can now enjoy all the additional benefits!
Cool, right?
In the long-term, the confectionery is set to become a strong loyalty program with some strong incentives for our users. By creating value for DFI this way through Cake and on the other hand DeFiChain creating a lot of decentralized tools there is going to be massive interest and demand for DFI and in the end, that should help Cake and the entire DeFiChain community.
With that, we would love welcoming you as a master baker and eventually as a confectionist!
Happy baking!
Your Cake Team
PS: If you have any questions, please join our telegram: https://t.me/cakedefi_en
