Singapore, November 14, 2024 – Cake Group announced today the transfer of its DeFiChain-related assets such as domains, websites and social media handles to DeFiChain Labs, marking a strategic move to support the blockchain platform’s push toward greater decentralization.
The divestment comes in response to DeFiChain Labs’ expanding role following their successful community funding proposal on October 14th. This transfer of digital assets will enable DeFiChain Labs to fully execute its mandate for marketing, community growth, and ecosystem development.
“We are happy to see DeFiChain further decentralize and are happy to support that,” said a spokesperson of Cake Group. This statement underscores Cake Group’s wish for DeFiChain’s success and its evolution toward independence.
The transfer facilitates several critical objectives for the DeFiChain ecosystem:
- Streamlined Operations: DeFiChain Labs will now independently manage all public-facing communications channels, ensuring consistent messaging and community engagement.
- Independent Growth: The transfer supports DeFiChain Labs’ transition to a self-sustaining entity, funded directly by the blockchain and its community.
- Enhanced Autonomy: This move aligns with the blockchain industry’s best practices for decentralization, reducing reliance on any single organization.
As a strong advocate for decentralization in the blockchain space, Cake Group views this transition as a crucial milestone in DeFiChain’s development. This strategic transfer represents a significant step toward realizing DeFiChain’s vision of a truly decentralized ecosystem, while demonstrating Cake Group’s commitment to supporting the platform’s continued evolution and growth.
