Two days ago, Defichain started its liquidity mining.
It has liquidity mining pairs – BTC-DFI, ETH-DFI and USDT-DFI.
It is definitely another opportunity to earn through staking and mining but the % of reward may not be as attractive as other mining opportunities.
Cake Defi also started a promotion from 1st December to 15th December 2020 to allow its users to buy Bitcoin or Ether with 0% fees on its platform.
It could be on of its ways to promote and facilitate its new liquidity mining so that its users can easily start their liquidity mining with this as an added benefit.
I can see that one of the main differences in liquidity mining on Cake Defi vs Defi Chain directly is Cake Defi does take a certain percentage as fee for its service to ease the technical demand of earning via its platform.
I have staked my DFI tokens on Cake Defi for a couple of months now so the experience has been pleasant so far.
The price of DFI tokens has increased quite a lot recently. It could be due to the recent pumping of the price of BTC and ETH but it can also be due to its recent new initiative for its liquidity mining and fee free buying of BTC and ETH on Cake Defi.
Regardless of the reason, crypto market has started its positive trend for a couple of weeks now and let’s hope it stays this way for us to reap a nice profit as BTC is approaching its US$20 000 mark.
Below are two videoclips that I found that can provide more information about the Liquidity Mining for your reference.
Explanation of Liquidity Mining on Defichain
Video Source
Difference between Liquidity Mining on Cake Vs Defichain
Video Source
Reference article:
https://cake.zendesk.com/hc/de/articles/900003762406-What-is-Liquidity-Mining-