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Cryptoknowmics 2022-10-06 13:50:44

Cake DeFi Launched Ethereum Staking Service With 5% Returns

Cake DeFi, the largest and fastest-growing fintech startup located in Singapore that enables simple access to decentralized finance (DeFi), has released its most recent functionality, which is known as Ethereum (ETH) staking. A tradeable token that can be traded on the open market adds extra liquidity access to this functionality. Many cryptocurrency exchanges and trading platforms have no intention of allowing ETH unstacking before the Shanghai upgrade. ⭐ NEW SERVICE ⭐ Please welcome the latest addition to our product line: #Ethereum Staking It lets you earn rewards from your ETH holdings with industry-leading returns of approximately 5% through Singapore-based nodes. — Cake DeFi (@cakedefi) October 6, 2022 Cake DeFi to Offer 5% Staking Payment on ETH The Ethereum nodes from Cake DeFi would support decentralization, stimulate regional investment and growth, and relieve pressure on European and North American node operators. Cake DeFi would boost network decentralization by offering a 5% staking payment on Ethereum through Singapore nodes. Cake DeFi’s ETH staking would feature returns automatically compounded once every 12 hours, providing substantially larger returns than ETH staking, which does not employ compounding. The most recent Ethereum Merge, which occurred in September and was successful, enabled Ethereum to transition from a Proof-of-Work structure to a Proof-of-Sta...

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