The innovation needed to make Web3 and decentralized gaming more accessible will come from the cryptocurrency industry. A number of projects are exploring opportunities, and Cake DeFi wants to keep the momentum going. Through its $100 million investment arm, Cake DeFi Ventures, the team will fund global startups focused on Web3, gaming and fintech.
Cake DeFi Ventures is a Big Leap
It’s intriguing to see an established project like Cake DeFi exploring new ways to fund the development of crucial industry verticals. The Singapore-based fintech platform makes decentralized financial products, services and protocols more accessible to everyone, regardless of technical expertise. Entering the corporate venture space and committing $100 million in capital immediately is a significant game changer, but it also marks an exciting direction for the industry as a whole.
Under the Cake DeFi Ventures banner, the team will invest in tech startups around the world. Companies or groups working in Metaverse, Web3, eSports, fintech, NFT or gaming companies can apply for CDV funds. Projects deemed eligible for funding will be selected and will benefit from Cake DeFi’s growing network of partners, resources, tools, users and industry experience.
Cake DeFi co-founder and CTO U-Zyn Chua adds:
“As an extension of our multi-blockchain support and having built an R&D arm with deep technology expertise and cryptography capabilities, investing in companies that bring synergies to Cake DeFi’s core business will allow us to enhance our Web3 offerings.” .
2021 was an exciting year for the blockchain and cryptocurrency industry. In general, interest in this industry has grown by leaps and bounds. Furthermore, new concepts such as NFTs, blockchain games, Metaverse and Web3 are now gaining popular recognition. The launch of CDV marks a crucial milestone and confirms that now is an excellent time to invest in the next generation of companies that create exciting products, services, protocols and infrastructure for these verticals.
The continued growth of Cake DeFi
The launch of this venture arm marks another crucial milestone for the Cake DeFi team. Since the project’s inception, the platform has made access to DeFi products and services more accessible to more than half a million users. In addition, the project’s co-founders, Dr. Julian Hosp and U-Zyn Chua hope to bring understanding of blockchain to one billion people by 2025. Solutions like Cake DeFi are crucial tools on the way to achieving this goal.
As a fully transparent, innovative and regulated global fintech platform, Cake DeFi manages over $1 billion in client assets. The platform sees a nearly 10-fold increase in user base over the course of 2021, generating $230 million in rewards distributed to its customers. In addition, customer assets increased 6-fold in 2021. By 2022, the company expects to pay $400 million in rewards to customers, although that number could rise to $1 billion.
Today, Cake DeFi offers exposure to various decentralized asset classes. Users can explore various options including withdrawing liquidity, staking, freezing and borrowing. A borrowing feature will be implemented soon, creating yet another opportunity for users to get their digital assets up and running. Additionally, they will add a new “View Cash Flow by Assets” page to make the platform easier to use.
Newcomers and newcomers will benefit from the learn and earn program, which offers educational content and associated rewards. Despite the growing popularity of decentralized finance, there is still a great need for educational efforts. Offering rewards to users who educate themselves in all things cryptocurrency and DeFi is a strong incentive.