Cake DFI you can love it, you can hate it... you can´t eat it, but can you trust it?
I jumped into that CAKE almost a little more than 6 months ago....
I was a noob baby wet behind the ears and was blinded by the free money they promised. This was what pulled me in.
I mean if you invest a minimum of 50 dollars....just $50 they give you $30 just for joining. That $30 will be staked for 6 months already earning you interest. While with the $50 you can do what you want.
Staking up to** 52.9% APY + a max. of 80.76% bonus APY** based on duration
Liquidity Mining up to 63.97% APR
Lending up to 6% APY
Or just ask your money back.....yes seriously you can get it back if you´re not enjoying making money on your cake investment. Just withdraw, you pay a couple of cents (0.2 DFI) and you get to keep the 30 dollar referral bonus.
And on top of that till the 25th of November an additional 11% deposit bonus to celebrate the shopping month of November. That makes a means you get $35.50 for free ....
But that is not it...
There is also the $5 reward from completing their Learn & Earn. That´s a $40 bonus, but those perks are only in case you use the referral link (https://app.cakedefi.com/?ref=197670).
Money for Nothing but the chicks ain't free
So yes cake is giving you money for nothing....and yes it´s all in DFI and there sits the catch....if you wanna call it a catch. They own DFI so they can give you money for nothing without actually paying for it?
Hence is it a scam?
Well so far CAKE has been around for over a year and so far it did not pull the rug on me.
Of course, there are multiple slightly shady stories and allegations made on forums, but so far they have paid every single withdraw I made, and trust me I made a few.
And as you can see the first withdrawal I made was a part of my initial investment a couple of weeks after joining....
Why?
Because I got cold feet and wanted to know if CAKE was safe. I wrote this nice little article on that. But basically, there was some shadiness surrounding Dr. Julian Hosp the founder who has traveled the gray area, but many businessmen have done the same.
The good thing about this FUD getting the best of me was that I figured out I could get my money back without impacting my 30 dollar referral bonus.
And several friends and joined using my referral and 6 months later I could redeem the bonus as you can see...so so far CAKE DFI has proven to be very profitable I invested 75 dollars got those back and an additional $140.
That's quite a nice profit in 6 months right, I was skeptical at first... still have my doubts, but the evidence so far CAKE has proven to be very sweet and the next 2 weeks even sweeter with the 11% first-time deposit bonus as said you will need a minimum, investment of 50 dollars to get that $49 bonus which means you can get 80% bonus.
A bonus that will be locked for 6 months earning interest while you can ask your investment back any time...so that is truly money for nothing if you ask me and I am the living proof that it works got my money back and my $30 dollar bonus.
So do I trust CAKE..... I grew up on X files So I "Trust No One!"
But so far I am glad I had my Cake and withdraw it too.
Well, I still have some Cake in the Cake freezer a bit for over a year a bit for over 10 years.... who knows if Cake will last 10 years, but if so my 40 dollars "money for nothing" bonus would be worth $145. Or you can just withdraw your 40 dollars after 6 months and take your partner out to dinner...that´s what my girlfriend did.
Hope you enjoyed my 6 month Cake anniversary story. If you are interested this is the link and here is a free piece of Cake advice........
Try to get some referrals of your own because everyone should get some Money for Nothing and some chicks for free.
Hope you had a good read and will have a lovely rest of your day!