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Cake DeFi Launches Borrow Service to Maximize User Returns

 


Cake DeFi's latest product would make it easier for users to maximize their returns in the decentralized finance (DeFi) space.


Cake DeFi, a Singapore-based fintech platform that makes DeFi services and applications accessible to everyone, today announced the launch of its Borrow product.


According to the press release shared with Coin Hero, Borrow Cake would give DeFi users the opportunity to strengthen their crypto portfolios and potentially increase their returns.


According to Cake DeFi, Borrow allows its users to borrow decentralized USD (DUSD) by pledging Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC) and DFI as collateral.


Traders and investors can use a combination of these cryptocurrencies as collateral as long as at least 50% of the collateral is FDI.


dr Julian Hosp, Co-Founder and CEO of Cake DeFi said:


“We are excited to launch Borrow to provide users with more liquidity to invest in DeFi services while holding onto their assets. DeFi allows people to generate passive income from their cryptocurrencies without having to constantly trade. It is our goal at Cake DeFi to continue offering such innovative services to our users.”


The team added that the borrowed DUSD could be used to buy items or invest in products that generate passive income, such as B. Cake DeFi's lending, staking and liquidity mining.


According to Cake DeFi, Borrow offers its users better options than just HODLing their tokens. The liquidity they provide to the network is rewarded with the passive income they receive.


Cake DeFi prides itself on being a regulated fintech platform focused on giving users access to DeFi services. The platform has seen tremendous growth over the past year, with more than $230 million paid out in rewards to users over the course of the year.


The company said it is focused on expanding its client base to reach $10 billion in assets under management by the end of the year.

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