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CAKE Price Drop & My Investment Decision

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@readthisplease
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Its been a long time I talked about the CAKE token, because, in my opinion I lost quite a lot from the token. Imagine spending a lot of money buying a token at $20 price only to see the value crash below $3. I was really disappointed especially because I sold some of my most valued token at that time to buy the CAKE token, I was really enticed by the staking APR and how amazing it was to stake your token and have it auto compounded. I was kinda new to the crypto investment and crypto DeFi game, so it was easy for me to jump and invest a lot. I didn’t know that DeFi APR is not constant but reduces with time. I jumped into when it was over 200% APR, imagine investing in crypto that increases in value and also in quantity.
 I was too disappointed to see the value of CAKE drop and the APR drop too. Aside that, CAKE has updated their tokenenomics and decided to slash their stake rewards to control inflation and increase the long term sustainable goal they have planned. The CAKE community was angry and when the community is angry you feel it in the price action of the token. The value of CAKE token dropped more than 20% because investors didn’t like the idea of slashing the stake rewards. Well, if there are going to slash the CAKE stake reward, they should figure a way to help increase the value of the CAKE token. I love the project because, the team and devs are constantly coming up with ways to improve the platform. They integrated more blockchain support on their platform, because, initially it was a Binance Smartchain based platform, but now there is an Ethereum and Aptos chain integrated on the platform.

Well, for my investment decision, CAKE is not the first go to token I will invest in currently, because, while this project must have sounded really nice in 2020, I believe there are better projects that I can put my money in, besides most of them have not had their bull run yet because they are still new. So I will only consider investing in the CAKE token when I feel like throwing in some money into something. The project seems like a token with long term goals and sustainability, massive community and followers, this is the only reason its up for consideration. But for a desperate investment, I dont think I will consider it for now.

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