- Cake DeFi also announced today that it will invest an additional $1 million in ESG measures to assist establish a sustainable DeFi ecosystem and local CSR programs.
- With over $1 billion in total customer assets on the platform and close to a million registered users, it aspires to continue supporting both experienced and beginner investors in safely and securely generating profits on their cryptocurrencies and digital assets.
- In just three years, Cake DeFi gave out $317 million in prizes to its clients. In a statement, Hosp stated, We did this by developing a safe and secure one-stop platform for users to effortlessly access DeFi services.
Cake DeFi, Singapore’s fastest-growing Decentralized Finance (DeFi) platform, recently celebrated its third anniversary with a major milestone. As of the conclusion of Q1 2022, the corporation claimed to have paid out over $317 million in prizes, while maintaining robust quarterly business growth of almost 90% since 2019.
An Additional $1 Million In ESG Measures To Assist in Establish A Sustainable DeFi Ecosystem And Local CSR Programmes
Cake DeFi also announced today that it will invest an additional $1 million in ESG measures to assist establish a sustainable DeFi ecosystem and local CSR programs. Cake DeFi will team up with SportCares this year to help disadvantaged people enjoy and benefit from the sport by building confidence and enhancing their outlook on life. A basketball-based athletic development program, as well as volunteer opportunities and enrichment classes, will be the emphasis of the partnership with SportSG.
Despite the recent drop in crypto prices, Dr. Julian Hosp, CEO, and Co-Founder of Cake DeFi claimed the company has continued to develop tremendously over the last three years. In just three years, Cake DeFi gave out $317 million in prizes to its clients. In a statement, Hosp stated, We did this by developing a safe and secure one-stop platform for users to effortlessly access DeFi services.
Cake DeFi Was Offered A $1.5 Billion SPAC Merger
As they approach their objective of being listed on a public stock exchange in the near future, the company’s next stage of growth will come from expanding access to DeFi and Web3 not just for consumers but also for companies. Cake DeFi was offered a $1.5 billion SPAC merger earlier this year. Hosp, on the other hand, stated that they had declined the offer.
Cake DeFi also announced today that it has passed an EU licensing hurdle and is now authorized to provide and manage cryptocurrency custodial wallets in Lithuania. This is a critical step that will aid Cake DeFi’s cryptocurrency registration and authorization in more EEA member states, as well as its potential conversion to an EU-wide cryptocurrency authorization once the EU Markets in Crypto-assets (MiCA) Regulations take effect.
Since its debut in 2019, Cake DeFi has been committed to boosting financial inclusion and supporting the careful investment of crypto assets to generate passive income. With over $1 billion in total customer assets on the platform and close to a million registered users, it aspires to continue supporting both experienced and beginner investors in safely and securely generating profits on their cryptocurrencies and digital assets.
Source: https://www.thecoinrepublic.com/2022/06/14/as-it-celebrates-its-third-birthday-cake-defi-pays-out-317-million-to-its-clients/