Dear Cake Baker, we have a super exciting update for you!
One of the most common questions we get asked at Cake Lapis is:
What are my risks?
Often it is very difficult for people who do not have in-depth knowledge of the Crypto & Trading markets to really understand the risk, fully.
We are changing that from today on:
Even though the risk of a total loss was already very low beforehand, we want to give you absolute certainty now:
Cake is now working with several institutional partners — including Sparrow and Signum Capital — who take the risk and guarantee the return!
What will change from today, August 21 2020:
- No risk of losing your coins
- Still at least 9% return on BTC, 8% on ETH
- Enjoy all the advantages of Lapis without former disadvantages!
All this will go into effect from Bitcoin Batch 33 and Ethereum Batch 24 on. The past batches however are not yet affected by this new system and will then be rolled over automatically when the old contracts expire.
Drawbacks of institutional partners:
Until now, Cake Lapis has been running without any guarantor. Now that the return is guaranteed by custodians however, not all individual trades can be shown, only the overall results. Also, of course, they would like to have a slice of the cake for their guarantee and will receive a small fraction of the returns.
But to make sure that this is not a disadvantage for you as a customer, we will substitute that amount completely with DFI.
From Friday on you are guaranteed:
With Bitcoin: 5% on BTC + 4% on DFI, thus still 9%.
Likewise with Ethereum: 4% on ETH + 4% on DFI, thus still 8%.
But that’s not all… Extra yields are possible!
Should Bitcoin or Ethereum increase in value by the end of a batch, Cake will receive an extra return — which we will pass on to our customers! The exact amount of extra return that will be earned on each batch will be transparently displayed on our website as always.
If you are interested in the legal details, you can find them as always in Cake’s Terms & Conditions: https://pool.cakedefi.com/#/terms-and-conditions
A few concluding words
With these exciting updates, we have paved the way for expanding from our current user base to an even broader target group, which previously could not fully understand the risks, and have thus moved a little bit closer to our goal of becoming the one-stop platform for finance & investment management.
Other important milestones on which we are currently working — as already outlined in the Q2 2020 Transparency Report — are:
- The Freezer System, which is a VIP System
- A Fiat Gateway, which will enable savings plans, among other things
- Fiat Lapis, which will give you attractive returns on US dollars
And in Q4 of 2020 we will roll out more High Risk, High Return, Low Risk, Low Return services to address an even broader target group.
Your Cake Team
P.S.: Don’t use Cake yet? That’s how it works:
