HAVE YOU HEARD? With the launch of YieldVault, Cake DeFi users are now able to generate cash flow on their favorite cryptocurrencies without putting in too much time and effort.
So, if you haven’t tried it yet, read on and find out how you can also benefit from this hands-off approach to putting your crypto to work and generating passive income.
Launched on 01 March 2023, YieldVault is the latest addition to our list of money-generating DeFi services. It was conceptualized and, thereafter, offered with the introduction of negative interest rates on DUSD stablecoin under DeFiChain Improvement Proposal #245.
If you want to know more about how YieldVault works, click here for a detailed explanation from our CEO and Co-Founder Julian Hosp. Alternatively, you can watch the short video explainer below.
YieldVault supports 5 cryptocurrencies: BTC, ETH, USDT, USDC and DFI. You can also start allocating EUROC starting in the third week of March 2023.
You will receive the same cryptocurrency that you've allocated as rewards (e.g., if you allocated BTC, you will receive rewards in BTC). Also, YieldVault rewards are paid out twice daily and are immediately available on your Cake DeFi wallet.
Ease-Of-Use - YieldVault simplifies the process of earning negative interest rates on DeFiChain. Rather than spending time to understand the complexities involved in the process or taking on the risk of making mistakes and losing funds, you simply need to allocate funds into YieldVault, sit back, relax and enjoy the rewards generated.
Transparency - all YieldVault transactions happen directly on the blockchain. This means that you can always verify what's happening with your investments, and that the rewards can be tracked and verified on-chain through the wallet address given on our Transparency Page.
No Counterparty Risk - since your allocated funds are not loaned out to other users or institutional partners, you’re not subject to any counterparty risks.
No Risk of Impermanent Loss - YieldVault is not a liquidity mining service. Therefore, you’re not subject to the risk known as impermanent loss.
Liquidity - as mentioned earlier, YieldVault rewards are paid out in the native token and can be withdrawn from the vault any time. This allows for flexibility and having peace of mind on your part that your allocated funds are safe and protected from being locked up.
Access to DeFi - in essence, YieldVault provides you with reliable access to DeFi protocols. You don’t need to worry about having a high-level understanding of how DeFi works or having the required skills to generate crypto yields on your own. With just a click of a button, you can put your crypto to work and reap the rewards.
To start using YieldVault, just follow these simple steps:
And that’s it! If you want more information about YieldVault, you may click here to read another useful article that we’ve made available on our blog section.
If you want to use YieldVault but have not signed up for a Cake DeFi account yet, click here and start generating passive income today.
So, what are you waiting for? Sign up and take control of your financial destiny today!