Nexo

Bake vs Backpack

VS

General

Platform
Bake logo
Backpack logo
Founded
Bake 2019
Backpack 2022
Headquarters
Bake Singapore
Backpack Tokyo, Japan
Availability
Bake Non-us
Backpack Worldwide (lending unavailable in US, a few states restricted)

Fees & Financial

Bonus
Bake $30 after $50 deposit
Backpack
Token
Bake DFI
Backpack
Compounding
Bake Yes
Backpack Yes
Payouts
Bake Weekly
Backpack
Fees
Bake Yes
Backpack
Lockup
Bake None
Backpack
Maker Fee
Bake
Backpack 0.08
Taker Fee
Bake
Backpack 0.1

Cryptocurrency Rates

BTC Rate
Bake
Backpack 0.03%
BTC Max
Bake
Backpack
ETH Rate
Bake
Backpack 0.04%
ETH Max
Bake
Backpack
Stablecoin Rate
Bake
Backpack

Pros

  • Broad array of defi-like products and yield opportunities
  • Fully owned by both co-founders

Cons

  • Products are more complex or require more lockup time than other platforms

Pros

No pros listed

Cons

No cons listed


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