This week is nothing short of “maniac week” for the cryptocurrency community as cryptocurrency prices continue to fall. Bitcoin (BTC) is leading the decline and is currently barely above $20,000. In tandem with the plunge, crypto service providers are starting to become volatile, already forcing several to suspend their services.
On Monday, DeFi participants said the crypto lending giant Celsius had suspended withdrawals, transfers and swaps It is indefinite and the service has not yet been resumed. There are also rumors that cryptocurrency lenders are bankrupt. However, the company has not responded to this.
However, we are moving forward to Cake DeFi, a Singapore-based staking, lending and liquidity pool platform that allows users to deposit into various digital assets and earn yields. Withstood the test and weathered the storm.
so director Cake DeFi assured users that the current market conditions had little impact on the daily operations of the platform at the time of publication on its website.
I read part of the post:
“First and foremost, we want to reassure our customers that the current market conditions have had little to no impact on Cake’s day-to-day operations. We process within 30 days, but some can take up to 72 hours.In these uncertain times, good service is even more important, so we need more time than usual to make sure it works seamlessly. We are working even harder.”
Clear asset segregation for safety
Singapore fintech firm Cake DeFi needs to ensure clear asset segregation. Client assets are kept separate from the company’s operating accounts. Additionally, Cake DeFi users have full control and complete ownership of their funds. The platform acts only as an intermediary.
In contrast to other DeFi service providers that require users to deposit digital assets, Cake DeFi offers users a “safe passage” to decentralized (DeFi) services on the blockchain in a completely transparent manner. Acts only as an intermediary to provide.
Technically speaking, users can conduct transactions on their respective blockchains. What Cake DeFi does is provide a one-stop platform where users can access all services in her one place with community and customer support.
Cake DeFi provides transparency of all transactions, yields, masternodes and other data of value to users.
Most of the other platforms like Celsius, Crypto.com, Binance, etc. are primarily Centralized Finance (CeFi) platforms, with some form of “black box” that limits transparency. This means that users do not have a clear picture of where the yield is coming from or, in other cases, whether their funds are combined with the company’s operating funds.
In times like these when market volatility is through the roof, Cake DeFi stands out for guaranteeing users the protection of their hard-earned money by providing transparency.