A few days ago i was told about this project by a friend and I signed up because of super generous sign up bonus: 20$ when you register + 10$ if you use a referral code (pro tip: here's mine if you want to support my blogging activity) in DFI token, the governance platform token.
What is Cake DeFi?
Cake DeFi is basically an decentralized aggregator of different tools to put your crypto at work and earn from different activities: liquidity mining, staking and lapis services. The APY is quite different, depending on the coin you're depositing and the the service you're using: it may vary form 2/3% APY up to 36% APY staking platform native token DFI
The sign up bonus is credited after the first deposit and will be locked for 180 days. Good news is that for now there's no threshold for the first deposit, I guess even a single satoshi will work (I deposited something like 0.002 Dash). The referral bonus will be locked as well, but they will immediately start earning interest.
At the very beginning I was quite skeptic about the project, 180 days of locking sounded to me like a scam, but at the end I decide to give it a try for more than one reason: DFI in on CoinGecko, so it's more transparent than other coins and I red quite good reviews on many blogs.
On top of that, dev team seems quite solid and their FAQ section quite comprehensive. Last but not least, the Market Cap seems quite solid.
My advice if you want to try the platform is to make a little test, like I did, sending a very small amount of money to activate the bonus. You'll have than more than 6 months to see what happens, how the project develop and the price of DFI token
Here's a short video if you want to know more
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