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CakeDefi Part 3 - Update of SGD$100 experiment 3 months later


Back in late Aug 2021, I shared about my SGD$100 experiment into CakeDefi
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I was lured by the attractive % and also wanted to venture further beyond the usual BTC, ETH buys.

3 weeks later, I provided an update here.

Now that it's been 3 months+, here's how my gamble went:



Here are my thoughts:

The Yay 👍

  • My entry price was at SGD$3.90. With the price at SGD$6.35 now, coupled with the interest generated + US$30 referral reward earlier, I'm sitting on SGD$470.41 gain

The Boos 👎
  • I don't wish to paint the pic that I'm always sitting on paper gains. DFI coins is VOLATILE - I have not been monitoring this SGD$100 gamble much, but the few times I glanced at the DFI coin, it was a laggard compared to other coins. However, it is interesting that despite the BTC drop of 20% yesterday, DFI coin has held itself well.
  • APY% has been dropping. It started with 88.9% in Aug, to 73.6% in Sep, to 41.9% today. I haven't been monitoring the rate daily but it's great that I snapshot my past data for comparison


Conclusion: 

  • My sharing of my gains coincided with the increase in price of DFI coin. Whether DFI rises or drops, I've no control. Should DFI falls slightly below my entry price, I could be seeing red though it may be cushioned by the US$30 referral and the interest generated thus far. If DFI drops drastically, I'm prepared to lose my SGD$100🤡
  • I will continue to hold this bag/experiment to see how far my SGD$100 will go and do another update in the 6 mth mark.

Referral for CakeDefi


If you're keen to sign-up Cakedefi (of coz DYODD), pls use my referral link here where you'd get a total of US$30 worth of DFI (US$20 worth of DFI when you sign up and make a deposit of US$50 or more + US$10 referral reward). You can refer to my blog here for the registration guide.



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Referral for crypto platforms

To earn 8.88% APY on your stablecoin and receive US$50 in BTC on your first US$400 deposit, pls use my referral link here. You can refer to my registration guide here.


If you're keen to set-up a Gemini account to buy and sell cryptos, head to my guide here. You can also click on my referral link here. Upon your purchase/sales of USD$100 cryptocurrency, both of us will get USD$10 worth of bitcoin. 😊



If you want to earn higher interest on your BTC, ETH etc via Hodlnaut, pls use my link here. Pls refer to my registration guide here to download the app.

By using my link, you'll get US$20 signup bonus after you make a first-time deposit of US$1000 equivalent of coins in ONE TRANSACTION, within 7 days after your account is approved.

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