This collaboration combines the convenience of crypto trading with the stability and yield of traditional financial instruments. 

Key Highlights: 

• $TBILL now available on Bake 
• 5.0% APY for $TBILL subscribers 
• Eligibility for OpenEden’s token airdrop for $TBILL on Bake 

“We’re thrilled to offer our users access to tokenized US Treasury bills, powered by OpenEden,” said Julian Hosp, Bake CEO. “This aligns perfectly with our mission to be the go-to crypto super-app, providing a comprehensive range of digital assets and DeFi services. More importantly, it ties back to our core purpose of leveling the investment playing field for users, giving them access to institutional-grade yields that were traditionally out of reach for many retail investors”. 

Building Bake’s offering on top of $TBILLs ensures a reliable, low-risk source of on-chain yield, capitalizing on rising T-bill yields in the current high-interest rate environment. It provides an attractive alternative to holding stablecoins, with no risk of depegging, and appreciation based on the underlying risk-free interest rate. 

Through Bake’s offering, retail users have a unique opportunity to gain exposure to the yields from US Treasury Bill rates, further democratizing access to institutional-grade assets on-chain. 

Jeremy Ng, Co-Founder at OpenEden, added, “We’re on a mission to bring real-world yields on-chain for DeFi platforms like Bake. It has been incredibly exciting to work with the team, to enable the Bake platform to access risk-free yields on crypto rails.” 

With over $75 million in Total Value Locked and recent inflows of $15 million in just one week, OpenEden is already seeing significant market traction. 

OpenEden’s $TBILL is backed by high-quality liquid assets, including US Treasury and Reverse Repurchase Agreements collateralized by US Treasury. The product has received an “A” investment-grade rating from Moody’s, a first for tokenized US Treasury products.

Bake users can now access yields powered by $TBILLs by swapping USDC on the Bake platform. As an exclusive opportunity, Bake users may be eligible to participate in OpenEden community token airdrops through Bake, details to be announced 

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Bake, a one-stop platform that provides easy access to decentralized finance (DeFi) services and applications, has rolled out Recurring Buys on its mobile app to make it easy for investors to dollar-cost average (DCA). The Recurring Buys feature leverages the power of DCA through automated token purchases at regular intervals.

DCA is a technique employed by experienced investors to lower average buying price, reduce price volatility and emotional buying decisions, and alleviate the complexity of market timing. By integrating DCA into their investment strategy, investors can eliminate the need to predict market movements and evenly distribute their investments through regular purchases. This protects investors from the impulse to time market fluctuations, a challenge amplified by the considerable volatility often seen in the cryptocurrency space.

Starting this August, Bake mobile app users can conveniently engage in monthly recurring purchases of their preferred cryptocurrencies through Recurring Buys, accompanied by the ability to earn a bonus of up to 11% monthly. Moreover, members of Bake’s membership program, ELITE, are entitled to receive an additional 1% on top of this bonus. DeFiChain (DFI) is the first cryptocurrency available, with plans for other coins to be supported soon.

In line with the roll-out of Recurring Buys, Bake has launched a Baking Hot Summer Giveaway promotion, which is running until 1 November 2023. Bake customers can collect tickets that will be entered into a lucky draw contest, in which winners stand a chance to win $200,000 worth of prizes, including a brand new Tesla.

To participate, customers simply need to set up a Recurring Buy on the Bake mobile app to earn tickets. They can also earn more tickets and increase their chances of snagging a prize by inviting friends to participate, and by signing up to be a member of ELITE. Participants who invite friends to participate will also earn commission rewards.

About Bake

Bake is the retail arm of Cake Group, one of the fastest growing digital assets innovators. Bake is a one-stop platform that provides easy access to decentralized finance (DeFi) services and applications, empowering customers to generate returns on their cryptocurrencies in a secure and transparent way.

Bake combines the best features of centralized finance (CeFi) and DeFi, including the customer support and ease-of-use of CeFi and the transparency and traceability of DeFi. In turn, Bake shapes a superior CeDeFi experience for retail customers.

For more information, please visit https://bake.io

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