1. When does the campaign start?
The 3rd Anniversary Campaign will commence on Monday, July 25th, 10:00 UTC and will run until Monday, August 15th 10:00 UTC.
2. Which Liquidity Mining pairs qualify me for the lucky draw?
All Decentralized Assets (dAsset) - DUSD Liquidity Mining pairs, except for DUSD-DFI.
3. How can I participate?
Allocate a new entry of at least $50 worth of funds into any of the DUSD-dAsset Liquidity Mining pools (excluding DUSD-DFI). To be eligible, participants must not withdraw those same funds for at least 7 days after the promo ends.
4. Can the $50 be added in multiple smaller entries, or does it have to be one entry?
The $50 worth of funds must be added in one entry to be eligible. For example:
A user enters the Liquidity Mining twice, with $30 worth of funds with each entry during the campaign period. This user is not eligible for the lucky draw.
A user enters $50 (or more) into the liquidity mining, with one entry, during the campaign period. This user is eligible for the lucky draw.
In general, you can add as many times and as many funds into the liquidity mining as you want, however, please make sure that at least one entry is worth $50 or more to make sure you are eligible for the lucky draw.
5. What is the prize and when will it be paid out?
Eligible users will participate in a lucky draw and have a chance to win a free holiday getaway voucher (in the form of two $1500 Marriot gift cards) worth $3,000 in total. The announcement of the winner will be on August 23rd, 2022. The winner will be contacted via E-mail and once replied confirmed, the prize will be sent.*
*The winner is required to reply and confirm the email within 96 hours. If no reply is received during that period, another winner will be picked.
6. Any suggestion on which DUSD-dAsset Liquidity Mining pool to allocate funds in?
As mentioned, you may allocate at least $50 worth of funds into any of the DUSD-dAsset Liquidity Mining pools (excluding DUSD-DFI).
Some users, however, make a decision based on the expected returns or APR. Just remember that big rewards, most often, come with big risks. So, it may all depend on your risk appetite.
7. What Is Liquidity Mining In Simple Terms?
It is a blockchain-based investment mechanism that allows crypto investors to participate as Liquidity Miners and generate cash flow as they receive Liquidity Mining rewards and fees.
8. What’s The Main Advantage and Disadvantage of Participating in Liquidity Mining?
Liquidity Mining can be a lucrative means of generating cash flow, especially if you participate in it for the long-term. However, the processes involved can be complex and expensive if you choose to do it on your own. Also, there are risks involved - such as impermanent loss.
As such, Liquidity Mining is normally participated in only by those with advanced technical skills and knowledge, huge funds and high risk tolerance.
9. Why Should I Use Cake DeFi’s Liquidity Mining Service?
By using our Liquidity Mining service, you don’t need to have technical skills or advanced knowledge on crypto investing. With just a click of a button, you’ll have access to a wide selection of Liquidity Mining pools that are located in the DeFiChain blockchain, and be able to participate without having to worry about the complex processes involved.
Also, you can determine the amount of funds that you want to allocate. There is no requirement or limit. It all depends on you. In addition, our platform is highly secure and transparent.
For more information about our security protocols and transparency features, you may click here.
10. How Often Do Users of Cake DeFi’s Liquidity Mining Service Receive Their Rewards?
Liquidity Mining rewards are paid out every 12 hours, which means users of our Liquidity Mining service receive rewards twice a day.
That said, it should be noted that the Liquidity Mining yield displayed on our platform is an estimated APR value based on the 7-day average (14 reward cycles) and is subject to change. As explained earlier, Cake DeFi simply provides access to the Liquidity Mining pools and has no control over the prices or yields.
For more information on Liquidity Mining rewards, you may click here.
11. What Are dAssets?
In simple terms, dAssets are decentralized assets that reside on the DeFiChain blockchain. They can be held as an investment, traded on the DeFiChain DEX or used for Liquidity Mining on the DEX.
It is important to note that dAssets are not issued by any external company or business entity. They are created or “minted” by DeFiChain users. Hence, owning a dAsset does not mean you own an actual stock or company share.
For information about dAssets, you may click here.
12. What is the DEX stabilzation fee?
Since swaps are executed on the DeFiChain DEX, currently on some certain swap pairs (e.g. DUSD to DFI) a high swap fee up to 30% will occur. This is due to an improvement proposal by DeFiChain and we at Cake DeFi have no influence on this. Therefore, please use the swap function with caution.
More information about the DEX stabilization fee can be found here.
DeFiChain is a decentralized community project. To get answers and insights on DeFiChain, the community will be more than happy to help you with any of your questions: DeFiChain Telegram
More Information about DeFiChain can be found here.
13. Where Can I Get More Information About Liquidity Mining?