Last year, I managed to join Cake Defi so that I can invest and stake DFI to earn staking reward.
Investing is not free but the DFI tokens generated from staking can be considered a type of passive income.
Back then, I think the referral program of Cake Defi had not started year so there was no referral bonus.
Currently, new member can get $20 worth of free DFI tokens after the 1st deposit. New member that signs up through a referral link will get another $10 worth of DFI tokens.
The person who refers the new member would earn $10 worth of DFI tokens too.
All the free DFI tokens would be locked up for 180 days in confectionery but we still get to earn the staking reward of 37% APY that we can withdraw or reinvest.
When we do not want to invest a single cent into Cake Defi, we can actually promote the referral program to earn free DFI tokens.
It takes effort to promote so it is not passive income but the staking reward of 37% would be passive income.
We can continue to earn this passive income even after 180 days if we do not unstake our DFI tokens from the staking pool.
After the referral program started, Cake Defi was kind enough to give the earlier members the $20 worth of DFI tokens for depositing into Cake Defi.
I received 29.82359 DFI tokens. The price of each DFI token was about $0.67 then. The price of each DFI token is about $2.14 now so 29.82359 DFI tokens are worth about $63.
The value of each DFI tokens has been increasing so the number of DFI tokens may be fewer now since it is based on the value stated.
Currently, a new member should get about 9 DFI tokens that are worth $20 at the current price. The additional sign-up bonus of $10 through a referral link would be about 4 DFI tokens.
I do have a vision or you can consider as a dream. If I am able to successfully refer 2000 people, it is really an attractive passive income from the staking reward.
2000 x 4 DFI = 8000 DFI
8000 DFI x 37% = 2960 DFI
2960 x $2.14 = $6334.40 (Yearly)
$6334.40 divided by 12 = $527 (Monthly)
I would personally think that a monthly income of $527 that does not need to do anything else is a nice income.
Cake Defi has an auto-compound function so we can auto-compound our reward for a future higher income if we do not need to cash at the moment.
We must also bear in mind that the price of DFI is still growing especially during the bull run so if it ever rises to $4, I would earn about a monthly income of $1000.
The sky is the limit if the price can continue to grow but no one can be certain for sure.
I do need to put in effort in the beginning if I ever want to invite 2000 people to join.
I would not have promoted Cake Defi so extensively if it is not a reliable company in my personal opinion.
Many people may also be afraid that all the effort goes to waste if Cake Defi closes down suddenly.
I found the official information about Cake Defi in the Singapore Registrar of Companies. It is therefore an officially registered company with a physical office.
Being a registered company, I am quite sure Cake Defi is governed by the laws of Singapore.
It is true that we feel insecure when Cake Defi needs to verify our identity through KYC but it is to safeguard their company from fake identity since it is an officially registered company in Singapore.
This is certainly more reliable than those online farming pools that may not even have registered and many of them can close down without accountability.
Money can never drop from the sky and I guess when we are still young or we still have the energy to find potential opportunities to earn, we should not be wasting our limited time.
We can earn from Cake Defi using its referral program without investing a single cent but I did invest actually for staking DFI tokens and even in its liquidity mining.
DFI is not my only investment but it is certainly one of my best investment decisions that I had in 2020.
It has potential to grow even bigger than now so early members would benefit the most at its early stage.
I cannot guarantee that Cake Defi would be around many years later as no one knows the future but I personally think it has a good chance of becoming something big in future.
If we are not willing to invest a single cent, we can refer others to this growing opportunity. If it is successful, we can have a decent passive income but if it fails, we only lose our time.
This article is simply my personal opinion so you can have your own opinion about it.
Find out more or join Cake Defi using my referral link below if you have the same interest as me.
https://pool.cakedefi.com/#?ref=946850
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that.
Investing is not free but the DFI tokens generated from staking can be considered a type of passive income.
Back then, I think the referral program of Cake Defi had not started year so there was no referral bonus.
Currently, new member can get $20 worth of free DFI tokens after the 1st deposit. New member that signs up through a referral link will get another $10 worth of DFI tokens.
The person who refers the new member would earn $10 worth of DFI tokens too.
All the free DFI tokens would be locked up for 180 days in confectionery but we still get to earn the staking reward of 37% APY that we can withdraw or reinvest.
When we do not want to invest a single cent into Cake Defi, we can actually promote the referral program to earn free DFI tokens.
It takes effort to promote so it is not passive income but the staking reward of 37% would be passive income.
We can continue to earn this passive income even after 180 days if we do not unstake our DFI tokens from the staking pool.
After the referral program started, Cake Defi was kind enough to give the earlier members the $20 worth of DFI tokens for depositing into Cake Defi.
I received 29.82359 DFI tokens. The price of each DFI token was about $0.67 then. The price of each DFI token is about $2.14 now so 29.82359 DFI tokens are worth about $63.
The value of each DFI tokens has been increasing so the number of DFI tokens may be fewer now since it is based on the value stated.
Currently, a new member should get about 9 DFI tokens that are worth $20 at the current price. The additional sign-up bonus of $10 through a referral link would be about 4 DFI tokens.
I do have a vision or you can consider as a dream. If I am able to successfully refer 2000 people, it is really an attractive passive income from the staking reward.
2000 x 4 DFI = 8000 DFI
8000 DFI x 37% = 2960 DFI
2960 x $2.14 = $6334.40 (Yearly)
$6334.40 divided by 12 = $527 (Monthly)
I would personally think that a monthly income of $527 that does not need to do anything else is a nice income.
Cake Defi has an auto-compound function so we can auto-compound our reward for a future higher income if we do not need to cash at the moment.
We must also bear in mind that the price of DFI is still growing especially during the bull run so if it ever rises to $4, I would earn about a monthly income of $1000.
The sky is the limit if the price can continue to grow but no one can be certain for sure.
I do need to put in effort in the beginning if I ever want to invite 2000 people to join.
I would not have promoted Cake Defi so extensively if it is not a reliable company in my personal opinion.
Many people may also be afraid that all the effort goes to waste if Cake Defi closes down suddenly.
I found the official information about Cake Defi in the Singapore Registrar of Companies. It is therefore an officially registered company with a physical office.
Being a registered company, I am quite sure Cake Defi is governed by the laws of Singapore.
It is true that we feel insecure when Cake Defi needs to verify our identity through KYC but it is to safeguard their company from fake identity since it is an officially registered company in Singapore.
This is certainly more reliable than those online farming pools that may not even have registered and many of them can close down without accountability.
Money can never drop from the sky and I guess when we are still young or we still have the energy to find potential opportunities to earn, we should not be wasting our limited time.
We can earn from Cake Defi using its referral program without investing a single cent but I did invest actually for staking DFI tokens and even in its liquidity mining.
DFI is not my only investment but it is certainly one of my best investment decisions that I had in 2020.
It has potential to grow even bigger than now so early members would benefit the most at its early stage.
I cannot guarantee that Cake Defi would be around many years later as no one knows the future but I personally think it has a good chance of becoming something big in future.
If we are not willing to invest a single cent, we can refer others to this growing opportunity. If it is successful, we can have a decent passive income but if it fails, we only lose our time.
This article is simply my personal opinion so you can have your own opinion about it.
Find out more or join Cake Defi using my referral link below if you have the same interest as me.
https://pool.cakedefi.com/#?ref=946850
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that.
