CakeDeFi Freezer + Tracking in StocksCafe

A few days back, my investment in CakeDeFi grew to SG$6k+ which was a 20% gain in ~1 month. 

However, it has fallen to ~SG$5.5k now which is still a 10% gain.

Anyway, if you cannot take such volatility then crypto is definitely not for you. Today, I wanted to share a bit more on CakeDeFi which I did not mention in my previous article - CakeDeFi - The Easy Way to DeFi.

Besides Liquidity Mining, Staking and Lending, CakeDeFi has a Freezer too. The freezer allows one to freeze/lock up your DFI from 1 month up to 10 years in order to get some rebates on the staking fees. The longer you freeze, the more rebates you get.

If you scroll down further, you will get a view of the number of DFI that have been frozen and for how long. The signup and referral bonuses are frozen by default for 6 months with a defaulted auto-renew freezing after. To be honest, I do not have the conviction to freeze my DFI for 10 years, my guess is those are probably frozen by the founders or employees within CakeDeFi.

What I have been doing is to freeze whatever DFI available whenever I received the US$10 worth of DFI from my referrals/readers for the next 6 months and switch off the auto-renew option. Thanks once again for using our referral link! With such a high interest (90-100%), I am expecting our investment to double in 1 year (with the assumption that the price of the underlying coins does not fall too much) so it does make sense to freeze them for 6 months to get the additional 7% yield.

Currently, it has a TVL of US$357 million and is ranked 52 according to Defi Llama. Depending on the progress/development of the project, I might/might not cash out the capital and leave the profit to compound one year later but that's an article for another day. For now, I really like the simplicity/ease of auto-staking and auto-compounding CakeDeFi is providing as well as the ability to export all the transactions.

Such a basic function but missing in all the robo-advisors (at least for those that I am using - StashAway, Syfe and Endowus). I have found workarounds but still disappointed with them. Anyway, if you do not know, it is now possible to use StocksCafe to track your crypto investment.

For those that are interested in tracking CakeDeFi using StocksCafe, once the transactions are exported, you can head over to my CakeDeFi Liquidity Mining spreadsheet here and paste them into the "_raw" sheet. I have formulas in the cells that will extract those information and format them accordingly to be imported into StocksCafe. You will have to manually modify the "Deposit", "Swapped out/in" transactions to better capture your capital more accurately. Another thing to note is that the tracking does not take into account the impermanent loss suffered from the liquidity mining but it will still give a good enough estimation of your gains/losses. 

Crazy return with an XIRR of 252% that is accompanied by crazy volatility (18%) and drawdown (-18%). lol.

If you are wondering how it is being tracked in StocksCafe, I am assigning $0 to each and every transaction staking/mining rewards because we are getting them at no additional cost. Behind the scene, StocksCafe will then increase the number of coins we have and lower the average cost to capture the profits/losses. 

Next, I will be blogging about my DeFi experience on other networks! My new favourite is Aave on Polygon (Matic Network). Stay tuned!

Anyway, I have blogged about different ways to leverage crypto to build wealth for people with different risk appetites:

The safer approach using stablecoins

- Earning High Interest Using BlockFi and Celsius Network

- Earning High Interest Using BlockFi and Celsius Network Part 2

- Earning High Interest Using BlockFi and Celsius Network Finale

Risky approach but more hassle-free

- CakeDeFi - The Easy Way to DeFi

- CakeDeFi Freezer + Tracking in StocksCafe

Highest risk and you are on your own

- DeFi apps on Binance Smart Chain (BSC) such as PancakeSwap and PancakeBunny

- DeFIRE with DeFi

If you are interested in the platform I am using, do sign up using our referral links for some bonus :)

CakeDeFi - Deposits US$50 or more into your CakeDeFi account, you will earn US$30 in DFI and we will earn US$10 in DFI too.

If you are interested in the smart portfolio tracker (StocksCafe) which I am using as shown above, sign up using my link for a longer trial period :) Refer to our Referrals page for more information.

On a side note, Futu's moomoo app attractive sign-up bonus (one free Apple Share besides other benefits) has been extended to 31st May 2021 (1500hr SGT)! Take a look at the latest benefits here.

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