In September, Cake launched the amazingly well welcomed VIP Confectionary Program, coming with many benefits for Cake’s most active, loyal and supportive customers!
At launch, we announced that one of these benefits will include the possibility to buy Bitcoin and Ethereum at a whopping 50% discount!
Today, we want to present you the conditions under which Cake users will be able to buy BTC and ETH at 50% off — starting in Q4 2020 already!
Conditions for buying BTC and ETH at a 50% discount
- Your level at the confectionary needs to be at least “Masterbaker”, which means minimum 100,000 DFI in the freezer. (locked for 6 months)
- Investors, Team Members, Board Members, Advisors and invited Confectionists are excluded — they must NOT use this promotion.
- Lockup additional x DFI (for 6 months), then you are allowed to swap a certain percentage of that amount (precise numbers in the table below) of DFI into BTC or ETH at 50% Discount.
- The BTC and ETH will automatically be contributed to the next Lapis batch.
- The promotion may be changed or stopped at any time.
- Masterbaker (100K DFI)
- Freezes additional 8,000 DFI
- Allowed to swap 800 DFI (10%) at 50% discount from market rate into BTC or ETH
- Masterbaker (100K DFI)
- Freezes additional 50,000 DFI
- Allowed to swap 6,000 DFI (12%) at 50% discount from market rate into BTC or ETH
Don’t know how to buy DFI yet? Click here for a step-by-step tutorial.
Another great way of earning DFI is by using Cake’s Lapis services, which generate you up to 11.5% in passive income on your BTC, ETH or USDT with no risk attached.
Why and How is Cake offering this?
Cake wants to build a strong CeFi ecosystem around DeFiChain, thus the success of DFI — and demand for the coin — is crucial.
By offering Bitcoin and Ethereum at a 50% discount, Cake wants to incentivize its biggest DFI Stakers, as this is a win-win-win situation for all parties: DeFiChain, Cake and the Customer.
For this to work, Cake calculates the revenue it receives from the 6-month-freeze and estimates a theoretical profit of which it kicks back some of it to Masterbakers in form of discounted BTC or ETH.
There has to be a cap for each Masterbaker and the group as a whole, otherwise the offer is not sustainable.
The higher the frozen amount, the more discounted BTC/ETH the Masterbaker may buy.
Also, please be aware that promotions may change or stop at any time, especially when prices fluctuate a lot and thus profit calculations become difficult. We are giving out best at Cake to make this long-term sustainable though!
Your Cake Team
PS: If you don’t want to miss any news, you should subscribe to our newsletter at https://cakedefi.com and follow us on social media: