Automate your income with the first auto-claim $CAKE reward mechanism
The days of getting meaningful interest from a savings account in the legacy Centralized Finance (CeFi) system are long gone. With inflation running over 5% in the United States for over three months, and inflation in Europe now hitting 3%, individuals are either getting return on investments, or their savings are being devalued. Bank accounts in these areas are yielding less than 1% interest.
Those preserving and growing their assets are in the field of investing, and specifically in passive income. The aim is, as the saying goes, to make your money work for you.
The investment class outperforming all others over the past year and the past decade is cryptocurrency. Millions of investors are turning to cryptocurrency as the investment model of the 21st Century.
With good reason, one of the fastest growing sectors within cryptocurrency is Decentralized Finance, or DeFi for short. DeFi is experiencing unprecedented inflows with the Total Value Locked (TVL) in DeFi at $89 Billion, compared to $69 Billion just 2 months ago. This is an increase of just under 29% in two months.
Storming into the world of Decentralized Finance is an innovative new project, BabyCake.
But first, here is an explainer for those new to these subjects:
What is DeFi?
DeFi is short for decentralized finance.
DeFi is a form of finance that takes place on the blockchain. It does not rely on brokerages, exchanges, or banks to offer traditional financial instruments. Instead of centralized financial intermediaries, DeFi platforms leverage smart contracts for transactions. This is currently being done with a wide range of lending, trading and betting activities.
A smart contract is a contract that executes by itself, without the need of a trusted third party. The terms of the agreement between two counterparties can be directly written into lines of computer code. The code and the agreements are frequently recorded on a blockchain, or distributed ledger.
But what makes a cryptocurrency protocol “DeFi”? DeFi generally has the following characteristics:
- Non-Custodial. Users are the only ones who hold the keys to their wallets and control their funds.
- Open. It’s like the internet, but instead of information being transferred globally with no borders, the same is happening with money.
- Transparent. The code for these financial applications is open, so anyone can inspect how the applications and protocols work, and track exactly where their money is.
- Programmable. Open-source code also enables developers to build on top of others applications. And if they don’t like it, they can copy it and build a new application.
- Decentralized. DeFi protocols are built on public blockchains like Ethereum.
What is BabyCake?
Launched on the Binance Smart Chain (BSC) in July 2021, BabyCake is the first $Cake reflection token brought to market.
With its auto-claim features, users receive $Cake automatically in their wallet.
What is CAKE?
PancakeSwap is a decentralized cryptocurrency exchange (DEX) built on Binance Smart Chain (BSC), powered by the $Cake token, a highly-valued cryptocurrency. As of September 7, 2021 $Cake ranked #34 on CoinMarketCap with a market cap of over $4.4 Billion. Individual $Cake tokens are currently just over $20.
What is a Reflection Token?
A Reflection token is a unique innovation of Baby Cake in the field of DeFi. Holding one token yields rewards in another token. Baby Cake is the first reflection token of $Cake.
How Do Rewards Work in BabyCake?
- 7% Redistribution in $Cake:
7% of every buy and sale is redistributed to all token holders, making holding the tokens more profitable.
- Rewards Simplified:
BabyCake is the first platform where there is no need for holders to claim their rewards as the $Cake is delivered automatically to their wallets.
- Automatic Liquidity:
3% of every transaction is converted into liquidity for PancakeSwap.
- Breaking Whale Manipulation:
An extra 1% fee is applied to all sales to discourage swing trading and to lessen Whale manipulation.
No need to claim rewards, learn complex details of crypto wallets or stay up all night staring at charts. BabyCake lets holders’ money work for them, with automatic rewards being distributed to all token holders.
Find Out More
Ready to learn more about the first $Cake reflection token? Ready to earn some $Cake? It’s all about the community at BabyCake, so check us out here:
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Post source: How to Automate your Income in the world of Automation: BabyCake’s blockchain bonanza