Ethereum

Burn

DeFiChain

Rewards

<ul class="news-points"> 
 <li><strong>Cake Group announced receiving the first Ethereum staking rewards from DeFiChain.</strong></li> 
 <li><strong>The team will swap the rewards into DeFiChain’s native token, DFI, and send them to a burn address.</strong></li> 
 <li><strong>DFI trades at $0.2823, with a 16.04% increase over the past week.</strong></li> 
</ul> 
<p>Julian Hosp, CEO of Cake Group and Bake, took to X to make a significant announcement for the DeFi community. In particular, Hosp announced its team has received the first <a href="https://coinedition.com/what-is-ethereum-complete-guide-to-the-2nd-largest-blockchain-project/" rel="noopener noreferrer nofollow">Ethereum</a> staking rewards from DeFiChain, a decentralized finance platform on the Bitcoin blockchain.</p> 
<p>According to the CEO, the team will swap the reward into DeFiChain’s native token, DFI. After the swapping, the team will send the token to a burn address by the Bake team.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">First <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a> Staking Rewards from <a href="https://twitter.com/defichain?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@defichain</a> collateral. Will be swapped into <a href="https://twitter.com/search?q=%24DFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DFI</a> and then sent to the burn address by the <a href="https://twitter.com/bake_io?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@bake_io</a> team. Account Statement will be posted every Monday together with the burn. This is just an ops flow test. Expect around 5-10 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> every week at… <a href="https://t.co/89zZSJ7LtS" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/89zZSJ7LtS</a></p>— Dr. Julian Hosp (@julianhosp) <a href="https://twitter.com/julianhosp/status/1694966186390482996?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 25, 2023</a> 
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<p>Notably, the burn address is an exceptional wallet no one can access. It implies the DFI tokens from the Ethereum sta…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/defichain-up-16-as-cake-group-announces-eth-staking-rewards-burn/">DeFiChain Up 16% as Cake Group Announces ETH Staking Rewards Burn</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

DeFiChain Up 16% as Cake Group Announces ETH Staking Rewards Burn

Coin Edition

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