I am contemplating moving my funds off of CakeDeFi to

Question

I am contemplating moving my funds off of CakeDeFi to

a wallet to continue farming but i have no idea how much defichain network fees are in terms of DFI. Can anyone tell me what an average send or LP transaction fee would be?

#blockchain #cryptocurrency #defichain #english

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26.05.2022

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DanieL BaptistA
Fees are extremelly low, since you are working ins...

I appreciate it, im not new to DeFi so i understand the risks involved in self-management. The main reasons that i had been sticking to CakeDeFi before were the very limited ability to offload assets without Cake and the lack of hardware wallets. I guess i can always swap all defichain assets to DFI and send to Kucoin if i need to sell in the future. I like defichain but it is still disappointing how centralized it is

0

26.05.2022

DanieL BaptistA · Accepted Answer

Fees are extremelly low, since you are working inside the defichain ecosystem and you don't get the Cake cut for the differentiated services they provide. However, please consider that you will have absolutelly no support, you are the sole responsible for everything and, with exception for DFI, you will still need Cake to wrap/unwrapp other tokens into defichain usable tokens. Atomic swap currently is still disabled and the bridge is still with low liquidity so yet not fully usable without creating great unbalances. Also, you will not have services loke staking or lending, only LM and loans. And with the new wallet release, futures in the light wallet also :) I use both because I see advantages in both and they work very well together to maximize gains 🙂 But please be aware of the limitations of each also, it not all flowers and sunshine, you need to weight your responsabilities with both as well as your advantages. Only when secure of what you are doing, you should do it 🙂 Even yesterday, a fellow user forgot 2 words of it's seed phrase and got locked out of 15k. And without support, those are as good as lost if he will not be able to get those two words back. Not to be a detractor of the wallet obviously, Defichain is life 😁 I honestly and based solely in my experience, I do not reccomend defichain wallet alone, as well as I do not recomend Cake wallet alone, I recommend both, they are a perfect symbiotic relationship 🙂 Just to remind you that you always need to weight both pros and cons 🙂

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I am contemplating moving my funds off of CakeDeFi to

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