Singapore, Singapore, 28th April, 2022, Chainwire
Cake DeFi, a Singapore-based fintech platform that makes DeFi (decentralized finance) services and applications accessible to everyone, is thrilled to introduce a new product called “Borrow” to give its users novel opportunities to strengthen their crypto portfolios and potentially boost their returns.
The new product enables users to borrow Decentralized USD (DUSD) by pledging Bitcoin (BTC), Ether (ETH), Tether (USDT), USD Coin (USDC) and DFI as collateral. Users can use a combination of these cryptocurrencies as collateral, as long as at least 50% of the collateral is DFI.
The borrowed DUSD can be used to purchase items or invest in products that generate passive income such as Cake DeFi’s Lending, Staking and Liquidity Mining, where returns north of 70% APR are rather the norm than the exception. Borrow gives users a better option than just HODLing by providing them with liquidity that they can put towards generating predictab
