WIN A FREE HOLIDAY WORTH $3,000! Join Our “dAsset Liquidity Mining Promo”
Stressed out about global inflation? Want to get your mind off the ongoing “crypto winter”? Take a break. Join our “ dAsset Liquidity Mining Promo “ for a chance to win FREE holiday vouchers worth $3,000!
The promo starts today and ends on 15 August 2022, 10:00 UTC (18:00 SGT).
How To Participate?
- CLICK HERE to go to our Liquidity Mining service page.
- ALLOCATE a new entry of at least $50 worth of funds into any of the dAsset Liquidity Mining pools (excluding DUSD-DFI). To be eligible, participants must not withdraw those same funds for at least 7 days after the promo ends.
3. WAIT for the announcement on 23 August 2022. One lucky winner will be randomly selected to win the prize (Marriott gift cards worth $3,000).
Any suggestion on which DUSD-dAsset Liquidity Mining pool to allocate funds in?
As mentioned, you may allocate at least $50 worth of funds into any of the DUSD-dAsset Liquidity Mining pools (excluding DUSD-DFI).
Some users, however, make a decision based on the expected returns or APR. Just remember that big rewards, most often, come with big risks. So, choosing which pool you want to allocate funds in may all depend on your risk appetite.
What is Liquidity Mining in simple terms?
It is a blockchain-based investment mechanism that allows crypto investors to participate as Liquidity Miners and generate cash flow as they receive Liquidity Mining rewards and fees.
What’s the main advantage and disadvantage of participating in Liquidity Mining?
Liquidity Mining can be a lucrative means of generating cash flow, especially if you participate in it for the long-term. However, the processes involved can be complex and expensive if you choose to do it on your own. Also, there are risks involved — such as impermanent loss.
Users of Cake DeFi’s Liquidity Mining service should also take note of the DEX stabilization fee, which you can read more about by clicking here.
As such, Liquidity Mining is normally participated in only by those with advanced technical skills and knowledge, as well as those with high risk tolerance.
Why should I use Cake DeFi’s Liquidity Mining service?
By using our Liquidity Mining service, you don’t need to have technical skills or advanced knowledge on crypto investing. With just a click of a button, you’ll have access to a wide selection of Liquidity Mining pools that are located in the DeFiChain blockchain, and be able to participate without having to worry about the complex processes involved.
Also, you can determine the amount of funds that you want to allocate. There is no requirement or limit. It all depends on you. In addition, our platform is highly secure and transparent.
For more information about our security protocols and transparency features, you may click here.
How often do users of Cake DeFi’s Liquidity Mining service receive their rewards?
Liquidity Mining rewards are paid out every 12 hours, which means users of our Liquidity Mining service receive rewards twice a day.
That said, it should be noted that the Liquidity Mining yield displayed on our platform is an estimated APR value based on the 7-day average (14 reward cycles) and is subject to change. As explained earlier, Cake DeFi simply provides access to the Liquidity Mining pools and has no control over the prices or yields.
For more information on Liquidity Mining rewards, you may click here.
What are dAssets?
In simple terms, dAssets are decentralized assets that reside on the DeFiChain blockchain. They can be held as an investment, traded on the DeFiChain DEX or used for Liquidity Mining on the DEX.
It is important to note that dAssets are not issued by any external company or business entity. They are created or “minted” by DeFiChain users. Hence, owning a dAsset does not mean you own an actual stock or company share.
For information about dAssets, you may click here.
Where can I get more information about Liquidity Mining?
Originally published at https://blog.cakedefi.com on July 25, 2022.