Listing of new Staking Coin on Cake: DFI (including Launch Bonus)
To coincide with the third Bitcoin Halving on May 11th/12th (depending on the time zone), the DeFiChain Foundation in Singapore (www.defichain.io) has gone live with its blockchain after extensive testing of its testnet (http://testnet.defichain.io): https://github.com/defich/ain The chain enables Decentralized Finance on the Bitcoin blockchain step-by-step, which is a great and essential development for the entire ecosystem. You can find the block explorer here: http://explorer.defichain.io/#/DFI/mainnet/blocks
We at Cake have been involved in the programming of the DeFi Blockchain along with other developers and our founders Julian and U-Zyn are also on its board (details: https://defichain.io/white-paper/). Since the DeFi Chain is completely self-financed, there has also been NO ICO. Everything starts from zero. This initial token distribution was circulated to several participants, and we at Cake want to support this and will therefore list the DFI token on our platform for staking this week (KW20 11.5–17.5.).
A few facts about the DFI Token — more details can be found at: https://defichain.io/white-paper/
- The token is a utility token and is needed as fuel for the DeFi chain, to pay for blockchain and decentralized finance transactions.
- Max. Cap.: 1.2 billion
- DFI staking reward is 180 DFI per block.
- Due to the initially small supply, the staking return at DFI will be around 30% per year at the beginning — so, quite attractive.
- There is no ICO. You can only get the token on exchanges (coming soon), staking platforms, airdrops and other users.
- There will be Airdrops for Cake users and Bitcoin holders in general.
With the launch of the DFI token Cake will also start with a free airdrop for existing users who have been using the Cake services. As of May 10th, 2020 midnight Singapore time (i.e. in the past) each user will be credited with 1 DFI Token as a free bonus for each crypto value in USD that he/she has used for staking or lending at Cake on that snapshot. Thereby, we want to reward all those users who have trusted and supported Cake from the beginning and thank them for their support.
Important: There will be more Airdrops like this in the future and you will be able to exchange DFI Tokens for Cake from BTC via the coinswap feature. So, the more you use Cake, the more you will be rewarded.
With the DeFi Chain, we see the start of the DeFi ecosystem on Bitcoin, similar to the way Maker triggered the run on Ethereum. The future at Cake will then be to gradually decentralize the lending and staking services so that users not only have full transparency, but also remain in control of their own private keys. If you want to be part of this, you should be part of it from the beginning and benefit by staking DFI on Cake.
Your Cake Team
