Cake DeFi gets ahead of FUD (Fear Uncertainty and Doubt) with their latest blog post, quelling any fears that users’ funds are at risk.
- Cake DeFi Emphasizes Transparency And Its Status As A DeFi Platform
Cake DeFi Emphasizes Transparency And Its Status As A DeFi Platform
With the recent crypto market turmoil in mind, Cake DeFi decided to update its customers on its status in order to differentiate itself from the beleaguered Celsius Network.
The Singapore-based company operates a DeFi platform that includes buying, selling, and staking. It recently received regulatory approval from Lithuania, which will likely lead to wider spread adoption through Europe.
‘First and foremost, we want to reassure our customers that the current market conditions have little or no impact on Cake’s daily business. As usual, we are processing 99% of all withdrawals within 24 hours, even though some can take up to a maximum of 72 hours,” the DeFi-focused company said via their blog pointing out they are a safe and stable alternative to Celsius.
Unlike CeFi competitors, Cake DeFi only acts as an intermediary with no claim to customer assets. “… we provide users a “safe passage” or access to decentralized finance (DeFi) services,” the DeFi platform explained. As a result, users’ funds are available to them no matter the market conditions or Cake DeFi’s status as a platform.
Moreover, they emphasize the transparency of their platform as a fundamental reason for their continued success. “On Cake DeFi’s platform, we provide transparency on all transactions, yields, masternodes and other information that would be valuable to our users. This is our promise to our customers – and how they continue to trust us with their funds.”
Recommended: The Bitcoin Bottom Is in, Says Peter Schiff