The Ethereum nodes from Cake DeFi would support decentralization, stimulate regional investment and growth, and relieve pressure on European and North American node operators. Cake DeFi would boost network decentralization by offering a 5% staking payment on Ethereum through Singapore nodes. Cake DeFi's ETH staking would feature returns automatically compounded once every 12 hours, providing substantially larger returns than ETH staking, which does not employ compounding.
The most recent Ethereum Merge, which occurred in September and was successful, enabled Ethereum to transition from a Proof-of-Work structure to a Proof-of-Stake.
Cake DeFi's co-founder and CEO, Dr. Julian Hosp, stated that ETH Staking is the newest addition to the well-liked staking service. The company decided to operate nodes in Singapore deliberately. Presently, the majority of Ethereum nodes are in North America and Europe. He further stated that hosting the nodes in Singapore would promote decentralization and increase the confidence of regional investors and developers.
In Q2 2022, the business saw its highest quarter ever in terms of users, funded accounts, and payments, according to the most current Cake DeFi's Transparency Report for the time frame. Despite the gloomy market scenario, it reached a million subscribers and distributed $375 million in customer awards by the end of the second quarter of 2022.
Cake DeFi could achieve all these objectives by creating a user-friendly and risk-free platform that allows customers to conveniently and rapidly access different DeFi services, such as staking, lending, borrowing, and liquidity mining. Cake DeFi's primary goals in the short term are to keep expanding its user base and to promote financial equality to make DeFi more accessible to both consumers and companies.