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Cake DeFi announces Earn for crypto, offering up to 10% APY

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Cake DeFi announces Earn for crypto, offering up to 10% APY


Cake DeFi says EARN offers daily rewards with up to 10% APY, while users benefit from complete transparency.

Cake DeFi, a Singapore-based decentralised finance (DeFi) company seeking to bring crypto opportunities to the masses, has formally launched an investment product that will see customers access competitive returns on their assets while enjoying protection against market volatility.

The platform first introduced EARN on 12 September.

Cake DeFi’s EARN to “address market needs”

As noted EARN is a hybrid product that offers “a single-sided liquidity mining service” that should see an increasingly risk-averse market not worry about returns, liquidity or risk of insolvency as recently observed over the crypto winter.

With many centralised finance (CeFi) platforms hitting bankruptcy among other troubles recently, users are turning to projects such as Cake DeFi’s centralised decentralised finance (CeDeFi) platform. 

The market is also benefiting from a hybrid approach where providers are offering access to both liquidity mining and crypto lending – combining high yields with the latter’s low volatility to help consumers.

Our latest product EARN was launched to address today’s market needs. With the crypto winter settling in, investors have become increasingly risk-averse, especially since many Centralised Finance (CeFi) platforms have become insolvent or are facing liquidity issues. As a Centralised Decentralised Finance (CeDeFi) platform, our business is to provide our users with good yields on their crypto investments with complete transparency,” said Dr. Julian Hosp, Co-Founder and CEO of Cake DeFi.

What else makes Cake DeFi Earn different?

According to Cake DeFi, EARN will offer users access to rewards with up to 10% APY, either for Bitcoin (BTC) or DeFiChain (DFI) – you allocate one asset and receive rewards in the native coin. EARN also offers autocompounding of returns to allow users to benefit from even greater yields. 

As well as using on-chain tools to track their investment’s performance, customers are assured of protection against impermanent loss. This option is available via the Volatility Protection feature, the firm announced.

Cake DeFi is announcing the EARN feature on the back of stellar growth during Q2, the fintech platform’s strongest quarter of 2022. This was reflected in the platform’s Transparency Report, with numbers for customer growth, payouts and funded accounts all showing massive upticks.



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Deutsche Telekom to run Ethereum validator node

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Deutsche Telekom to run Ethereum validator node


  • Deutsche Telekom will run an Ethereum validator node via its subsidiary T-Systems Multimedia Solutions and has also partnered liquid staking pools provider StakeWise.

German telecom giant Deutsche Telekom has announced support for the Ethereum network, revealing plans to run a validator node on the world’s largest proof-of-stake (PoS) blockchain.

An announcement from the telecommunications giant on Thursday stated that the company move is part of its wider objective of expanding its activities across the blockchain technology and crypto ecosystem.

Deutsche Telekom joins Ethereum staking

According to Deutsche Telekom, its validation infrastructure will be handled by its subsidiary, T-Systems Multimedia Solutions (T-Systems MMS). T-Systems MMS will thus operate a validator node on Ethereum, taking part in the network’s staking mechanism.

Deutsche Telekom also announced that its subsidiary would be partnering liquid staking pools provider Stake Wise, this marking the telco’s entry into liquid staking. 

The StakeWise app allows ETH holders to participate in network validation without having to operate a validator node themselves. This in turn lowers the entry barrier for anyone looking to invest in the cryptocurrency.

After collaborating with Flow, Celo and Polkadot, we are now taking the next decisive step in the blockchain world and are doing pioneering work here with Ethereum. As a node operator, our entry into liquid staking and the close collaboration with a DAO is a novelty for Deutsche Telekom,” said Dirk Röder, Head of Blockchain Solutions Center at T-Systems MMS.

The German telco behemoth’s move comes a few weeks after Ethereum successfully transitioned from the proof-of-work mechanism used on the Bitcoin network.

The Merge, as the Ethereum software upgrade that ushered in the PoS mechanism was called, is set to see energy consumption for Ethereum fall by 99.95% – making the blockchain a more eco-friendly network.



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LATAM startup raises $4.3 million to accelerate Web3 growth

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LATAM startup raises $4.3 million to accelerate Web3 growth


Minteo’s $4.3 million seed round attracted the backing of Fabric Ventures, OpenSea Ventures, Dune Ventures, CMT Digital, among other investors across crypto and Web3.

Latin America-based NFT marketplace Minteo has closed a $4.3 million seed funding round contributed to by a wide range of investors across the ecosystem.

Minteo secured the funding from notable venture capital players and angel investors, including Fabric Ventures, CMT Digital, OpenSea Ventures, Impatient VC, Dune Ventures, and Susquehanna Private Equity Investments.

Others who participated were SevenX Ventures, FJ Labs, Big Brain Holdings, G20 Ventures, Zero Knowledge, Alliance DAO, and AngelDAO. A host of leading angel investors also participated, the startup noted in a press release.

Web3 for the Latin America region

Minteo, which is now backed by some of the marquee names in the Web3 investment space, plans to use the capital injection to boost its development and reach across the Latin America region.

The startup’s mission is to introduce the region to Web3 and help onboard millions of via NFTs.

Latin Americans love art, music, dancing, and socializing. This is engrained in the fabric of our community,” said Santiago Rodriguez, co-founder and Chief Executive Officer, Minteo.

Through Minteo’s NFT platform, Latin Americans will now be able to celebrate these incredible aspects of our culture. We truly believe that the region is ready for increased Web3 adoption, and the net effect it will have for many creators and communities will be life-changing,” he added in a statement.

Latin America is one of the regions with the fastest growing community of cryptocurrency and blockchain ecosystem users. Countries such as Brazil, Mexico, Argentina and Colombia are seeing massive numbers in terms of crypto adoption – and NFTs are the new frontier.

Minteo is thus looking to make inroads in the LATAM market through user-friendly mobile app, built-in self-custodied wallet, and support for local payment methods among other features.



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Facebook and Instagram users can now cross-post NFTs

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Facebook and Instagram users can now cross-post NFTs


  • Facebook and Instagram users can connect their digital wallets to either app, and share or cross-post NFTs.

Meta, the parent company of social media platforms Facebook and Instagram, has today expanded the digital collectibles functionality on the two platforms.

An update the company provided on 29 September states that all users on both Facebook and Instagram apps can now share and cross-post their digital collectibles. 

Share NFTs across Facebook and Instagram

According to the announcement, once users connect their wallets to either app, they can share NFTs on Facebook to their account on Instagram.

The cross-posting and sharing is available for users in the United States as well as across all of the 100 countries where Meta supports digital collectibles on Instagram. Users can post or share digital collectibles at no fees.

Meta first announced support for NFTs on its Instagram in May this year, before expanding that to Facebook.

An international expansion of the digital collectibles feature for users in Africa, Asia-Pacific, the Middle East, and the Americas in August brought the support to 100 countries. The company also added wallet support for Coinbase Wallet and Dapper, on top of earlier support for Rainbow, Trust Wallet, and MetaMask.

The feature also expanded to three blockchains – Ethereum, Polygon and Flow.





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