Cake DeFi Launches an ETH Staking Service with 5% Returns

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Cake DeFi, a fully transparent, highly innovative fintech platform dedicated to providing access  to decentralized financial services and applications, has just announced the launch of Ethereum (ETH) Staking, which grants access to liquidity through a tradable token which can be sold in the open market.

After The Merge, which took place last month, Ethereum has migrated from PoW to PoS. As a result, the “Beacon Chain” was merged into the Ethereum main chain, which requires nodes, or validators, to stake their cryptocurrency into a long-term deposit contract.

Now, retail investors can stake or lock their ETH tokens on the blockchain to earn the opportunity to validate transactions and receive ETH as a reward. However, at the moment they do not have the possibility of unstaking their assets. They will only be able to do so after the Shanghai upgrade, which could be a year or so later. 

Cake DeFi’s new ETH Staking solution now allows users to enjoy around 5% annual percentage yields in returns. Returns in Cake DeFi’s ETH staking will also be auto-compounded every 12 hours.

It is important to take into account that the users of Cake DeFi’s ETH staking will also soon be able to unstake via a token tradable on the open market, meaning they will not have to wait for the Shanghai upgrade.