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Cake is a CeFi platform registered in Singapore that offers so-called Lapis rounds. Investors have to deposit their cryptocurrencies for four weeks to earn interest.

Savings Accounts

4

Collateral

1

Loans

Clarity of interest policies

Jurisdictions

200+

Languages

EN, CN, IT

CeFi/DeFi

CeFi

Pros

Cake Defi does not have a tier system. Accordingly, both savers with a low investment amount (Shrimp) and savers with a high investment amount (Whale) receive the same interest rate.

Savings Accounts
Savers get an additional return if the invested currency exceeds a certain threshold

Maximum Interest
Supportive customer service

Customer Service

Cons

Borrowers need to post at least 50% of their loan collateral in DFI tokens

Crypto-loans
Users can only participate in "Lapis"-Rounds, meaning they have to wait until a new round starts before they can invest

Savings Accounts
Deposits are locked up for the 4-weeks duration of the Lapis Round

Savings Accounts
To get the highest rates, the price of the invested asset has to increase twice by 20%

Savings Accounts
Interest is only paid at the end of the 4-weeks Lapis round

Withdrawal Speed
Withdrawals can take up to 72 hours

Withdrawal Speed
You can only borrow in Cake's own DUSD stablecoin

Crypto-Loans

All cons

The interest rates at Cake

Earn Interest
Borrow Money

	BTC	ETH	USDT	USDC
Basic Max	3.5% 6%	3.5% 6%	7%	7%
	0.2 - 8.5% 0.2 - 7%	0.2 - 8%	0.4 - 12%	0.4 - 12%

Compare Interest Rates

How to earn the highest interest rates with Cake

In addition to the base rate, Cake pays 4% interest denominated in DFI coins, the platform's native cryptocurrency. This interest is guaranteed like the base rate, but the value of the DFI token can fluctuate significantly.

Additionally to the base rate and the DFI-rate, investors can receive a bonus yield of 2.5% if the price of the invested currency hits a certain threshold, which is defined at the beginning of the Lapis round.

All information is unofficial and subject to change.

Attention: Outdated Information!

	DUSD
Basic Min	5% 5%
Basic Min	5% 5%

Compare Lending Rates

How to get the cheapest crypto loan with Cake

As Cake does not offer crypto-backed loans there are no reviews available for this category.

All information is unofficial and subject to change.

Attention: Outdated Information!

A new concept

Cake DeFi works in a different way compared to other platforms. Investors can only invest in so-called Lapis rounds and have to depost their cryptocurrencies for four weeks per each round. The platform was founded by blockchain entrepreneur Julian Hosp and is still in its early stages. Although the platform is officially named "Cake DeFi" it is a CeFi platform according to CryptoStudio's definition.

Cake in the CryptoStudio-Check

Overview
Savings Accounts
Crypto Loans
Security
User Experience
Business Review

Overview

Platform Score

based on 5 categories

Savings Accounts

based on 9 criteria

Crypto-Loans

based on 10 criteria

Security

based on 8 criteria

User Experience

based on 13 criteria

Business Review

based on 5 criteria

Pros

Cake Defi does not have a tier system. Accordingly, both savers with a low investment amount (Shrimp) and savers with a high investment amount (Whale) receive the same interest rate.

Savings Accounts

Savers get an additional return if the invested currency exceeds a certain threshold

Maximum Interest

Supportive customer service

Customer Service

Cons

Borrowers need to post at least 50% of their loan collateral in DFI tokens

Crypto-loans

Users can only participate in "Lapis"-Rounds, meaning they have to wait until a new round starts before they can invest

Savings Accounts

Deposits are locked up for the 4-weeks duration of the Lapis Round

Savings Accounts

To get the highest rates, the price of the invested asset has to increase twice by 20%

Savings Accounts

Interest is only paid at the end of the 4-weeks Lapis round

Withdrawal Speed

Withdrawals can take up to 72 hours

Withdrawal Speed

You can only borrow in Cake's own DUSD stablecoin

Crypto-Loans

Savings Accounts

Rating:

Currencies:

4: BTC, ETH, USDT, USDC

Shrimp:

All investors receive the same interest regardless of the amount invested, so there is no distinction between Shrimps and Whales. Cake pays an interest of 3.5 - 6% on BTC, 3.5 - 6% on ETH, 7% on USDT.

Whales:

All investors receive the same interest regardless of the amount invested, so there is no distinction between Shrimps and Whales. Cake pays an interest of 3.5 - 6% on BTC, 3.5 - 6% on ETH, 7% on USDT.

Options to earn higher rates:

Savers receive a fixed interest rate. In addition, there is a bonus payment of 2.5% when the value of the investment currency reaches a certain level. However, in order to get the full bonus, the price must increase twice by 20%

Lock-up Periods:

4 weeks

Minimum Deposit:

No minimum deposit

Withdrawal Limits:

Small amounts will be paid out within 24h. For amounts exceeding $10,000 payout may take up to 72h

Currency of Interest Payments:

Rates are paid "in-kind" (same currency as deposit currency)

Attention: Outdated Information!

Crypto Loans

Rating:

Maturity:

There is no maturity date, the loan works like a credit line

Minimum Loan:

No minimum

Maximum Loan:

No maximum

Loan currency:

Crypto

Accepted Collateral:

1

Loan Liquidation:

The loan will be liquidated 24 hours after the LTV goes above 50% unless users reinstall a 50% LTV

Stress Test:

There were not bigger problems during the crypto crash in May 2022

Base Rate:

5% for all loans, plus a 0.5% origination fee

Minimum Interest:

5% for all loans, plus a 0.5% origination fee

Loan to Value Ratio:

50%

Attention: Outdated Information!

Security

Rating:

Withdrawal Speed:

Small amounts will be paid out within 24h. For amounts exceeding $10,000 payout may take up to 72h

Regulations:

Cake is registered in Singapore and regulated by the Payment Services Act

Team Transparency:

Founder and CEO Julian Hosp is well-known within the crypto industry. The website mentions the team, investors, and advisors

Crypto-Custody:

Funds are not held with an external custodian, but with Cake

Security Settings:

Cake offers industry standard security settings such as 2-factor-authentication and ID Check and Address whitelisting

Terms & Conditions:

Cake has the right to use the deposits of savers for investment purposes. That includes lending the assets to third parties

Transparency:

Cake publishes a quarterly transparency report

Security Hacks:

There are no reports about any successful security hacks

Attention: Outdated Information!

User Experience

Rating:

Account Opening:

Fast and straightforward, takes less than 5 minutes

Business Accounts:

No

Mobile App:

iOS and Android app available

Desktop App:

Yes

Wallet address book:

Yes

Reporting:

The reporting does not show the total interest earned but only the interest earned in single transactions. At the end of each term (Lapis) the user will get comprehensive email reporting. It is also possible to download a CSV file showing the wallet history

Coin-Reporting:

Cake provides a reporting in the respective cryptocurrency and in US dollar

Look & Feel:

Easy to use but the wording is sometimes not clear

Customer Service:

Comprehensive FAQ, it takes a few days until customer service answers questions but the answers provided are generally useful

Clarity of interest policies:

The website clearly explains Cake's interest rates policy

Countries:

200+

Fees:

Cake charges withdrawal fees

Languages:

EN, CN, IT

Attention: Outdated Information!

Business Review

Rating:

Financing:

According to Crunchbase, Cake is financed with Seed Capital of 2.4 million US dollar by 4 private investors. According to company representatives, the business is already profitable

CEO Track Record:

CEO and founder Julian Hosp is a familiar face on the crypto scene. His professional successes and failures have been a source of controversy in the past, but the trail of TenX's failure does not seem to lead to Julian Hosp according to recent media reports

Assets under Management:

AuM $1bn (as of May 2022)

User Base:

700,000 users as of May 2022

Community Interaction:

Participates heavily in public discussion online and provides transparent answers to CryptoStudio's inquiries

Attention: Outdated Information!

Cake Look & Feel

The app is user-friendly but doesn't offer a feature-rich wallet administration. Customer service sometimes takes a few days to answer questions but provides legit answers.

Registration process

Registering with Cake is easy and straightforward and takes only a few minutes.

Step 1

Visit Cake's website and select English in the upper right corner. Create an account and use our referral code to support our work and to benefit from Cake's promotions.

Step 2

Cake will send you an email with a confirmation link which you have to click.

Step 3

Verify yourself with a personal identification document and you can start using the platform.

to the Website *

All information is unofficial and subject to change. Links marked with an asterisk (*) may be affiliate links

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