Bake Crypto in Danger? Chaos Happening with Bake DeFi…
Bake, the crypto establishment responsible for DeFiChain (DFI) and DUSD, co-initiated by Julian Hosp, appears to be in turbulent times.
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
Bake, the innovative crypto establishment responsible for DeFiChain (DFI) and DUSD, co-initiated by Julian Hosp, appears to be navigating through turbulent times. While Hosp rose to prominence in the crypto domain with ventures like TenX and Lyoness, his latest venture with Bake seems to be facing difficulties. Despite official statements mentioning a layoff of 34 employees since January, insider sources suggest the number could be closer to 60. Furthermore, claims about the company facing a monthly deficit of 1 million Singapore dollars are doing the rounds, even as Hosp emphasizes expansion.
Bake is the native cryptocurrency token of BakerySwap, a decentralized finance (DeFi) platform built on the Binance Smart Chain (BSC). BakerySwap offers various DeFi features, including automated market-making (AMM), yield farming, and staking, all while promoting reduced transaction fees compared to platforms on Ethereum. Unique to BakerySwap is its integration of non-fungible tokens (NFTs), allowing users to trade and leverage digital collectibles within the platform. As the platform’s native token, Bake is used for governance, transaction fees, and as a reward token for liquidity providers and stakers.
Dissecting the Dynamics of DeFiChain and DUSD
DeFiChain (DFI) and DUSD’s performance raises some eyebrows. Though DeFiChain projects an image of a platform governed by a Decentralized Autonomous Organization (DAO), a closer inspection reveals otherwise. Reportedly, 70-80% of the voting nodes are under the influence of Hosp’s group. This centralized control over decision-making challenges the platform’s purported decentralized ethos.
DUSD’s trajectory further amplifies concerns. Once valued at 1 US dollar, its value has now dwindled to about $0.25. Despite previous financial endorsements worth 45.7 million US dollars in May 2022, DUSD seems to have lost its backing reserves. The situation is aggravated by the steep 40% fee imposed on DUSD sellers, further reducing its practical value.
DeFiChain’s Decline and Previous Setbacks
Recent data reveals a significant wane in DeFiChain’s allure. A once robust investment of 1.2 billion US dollars in May 2022 has now contracted to just 187 million US dollars. Concurrently, DFI’s market price has seen a precipitous fall, dropping from above 4 dollars to a mere 35 cents.
Another blow to DeFiChain’s reputation came from a massive security breach in early 2022, resulting in the loss of approximately 1,780 Bitcoin (BTC). This equated to almost 90 million US dollars at that time. Concerns about compensation or rectification measures only add to the existing apprehensions.
Future of Bake
While Hosp remains focused on the layoffs issue, a broader concern remains: the future trajectory for DeFiChain and DUSD. With a history of ventures experiencing similar patterns, it seems imperative for potential investors to approach with caution. As attention diverts to newer ventures, those eyeing participation in Julian Hosp’s projects are advised to do thorough due diligence.
Related articles
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
December 25, 2021 12:51 AM
Will OHM Crypto End Up as a Strong Contender of DeFi 2.0?
OHM crypto helps in enhancing stablecoins. Previously, their liquidity remained vulnerable and they were not immune to inflation.
June 16, 2026 4:38 PM
Top 3 Crypto Aggregators To Pick in 2026
To maximize yield and simplify the trading experience, Crypto aggregrators are an unparalleled choice in DeFi. Here are the top 3 choices.
November 19, 2023 2:11 PM
Why did Yearn Finance Crash? YFI Price tumbles around -45%
Yearn finance YFI token experienced a crash, plunging over 43%. Why did Yearn Finance crash? Was it a rug-pull or a price adjustment?
March 23, 2021 8:10 PM
Genesis Vision – Decentralized Fund Management
DeFi progress has been hindered by the lack of protocols dealing with decentralized fund management, but Genesis Vision is bringing change.
December 9, 2020 5:50 PM
Why Yearn Finance YFI Could Cross $50K This Dec With V2 Launch
The long awaited second iteration of yield farming and DeFi strategy platform Yearn Finance was launched on 7th Dec. In the coming weeks, it will be deployed gradually and it is being expected that the complete deployment would finish by the end of Dec 2020. Besides bringing major capability enhancements to the premier Decentralized Finance (DeFi) protocol and is highly likely to push the YFI price past $50K, if not more. Here's why.
January 19, 2024 12:57 PM
UMA Skyrockets with a Whopping 96% Surge in Just One Day!: Why is UMA Price Up?
UMA has experienced a robust surge. Why is the UMA price up and how high can the UMA price go? Let's take a look at this in more detail.
January 8, 2024 5:29 AM
INTO THE BLUE by Manta Network: The Comprehensive $MANTA Airdrop Guide
Manta Network has officially announced the commencement of the "Into the Blue" airdrop. Let's take a look at this MANTA airdrop guide
August 11, 2022 2:17 PM
How to participate in ThorChain Liquidity Pool (Rune) To Make Money?
In this article, we will talk about how to participate in ThorChain liquidity pool, what impermanent loss is, what are liquidity pools
May 29, 2022 1:21 PM
What Is fUSD? Can Andre Cronje’s Return Spur The Project?
With Andre Cronje back in the Fantom fold, this article will dissect the effects that his contributions will have on fUSD.
March 17, 2022 10:17 AM
Will $ANC Boom In 2022? Enter The Anchor Protocol Project!
In this article, we will be taking a detailed look into Anchor Protocol to determine what traders can expect from the project in 2022.
January 22, 2022 12:50 PM
Apeswap Crypto: A Better Alternative To Pancakeswap?
AAMs have revolutionized the traditional order book model of trading and Apeswap crypto has further improved how AAMs work and why they matter.
November 9, 2021 1:54 PM
Kadena (KDA): From a 650% Rally in 2021 to the End of the Kadena Organization
In November 2021 Kadena coin (KDA) was up 650% in a month. In October 2025 the Kadena organization ceased operations. What happened in between, and what is left of KDA.
November 8, 2021 2:52 PM
Here’s Why Mirror Protocol Sued the U.S SEC
With the United States SEC clamping down on the DeFi sector, Mirror protocol has sued them. Find out why in this article.
September 30, 2021 11:26 AM
Here Are The Most Amazing Features Of The Ronin Wallet
Learn all there is to know about the Ronin wallet and the features that stands it out among other wallets in the DeFi sector.
June 6, 2021 10:44 AM
Badger DAO – Dedicated DeFi Protocol For Tokenized Bitcoin
Badger DAO is the dedicated DeFi protocol for utilizing the tokenized Bitcoin on Ethereum based yield farming networks. How does it work?
May 28, 2021 1:29 PM
Raoul Pal Believes Recent Carnage Shows DeFi Resilience, Why?
Raoul Pal remarked about the recent crypto crash that DeFi and the wider market handled it better than TradeFi would have, how?
March 18, 2021 10:28 AM
What Is The Mirror Protocol? An Introduction And How To Stake MIR!
Synthetic asset generation and management platforms have been increasing in number lately, what are they? What is the Mirror Protocol?
March 11, 2021 6:55 PM
Your Definite Guide on How to use AAVE App
Aave is one of the fastest-growing Lending and Borrowing DeFi Platforms. Growth has been exceptional for the platform. How to use Aave App?
December 30, 2022 9:45 PM
Rumor: Facebook Unexpectedly Reveals a Crypto Project in Switzerland
Facebook has been keeping secrets about its new cryptocurrency, which is not how the company usually goes about doing business. Unlike Apple who only releases products without releasing much information to the public, Facebook has a habit of making public […]
March 29, 2019 6:59 AM
C³ Crypto Conference 2019 Highlights
The C3 Crypto Conference 2019, the prominent crypto conference of Germany, took place on March 27th & 28th 2019 in Berlin. This year’s conference represented the highlight of the Berlin Blockchain Week 2019. Organized in Maritim hotel, the event brought […]
October 23, 2023 3:07 AM
The Reddit MOON Token Controversy: Inside Trading Allegations Surface
"Reddit MOON Token Controversy" unraveled: Inside trading claims shake the crypto world after Reddit's community points program halt.
October 13, 2018 8:32 PM
Facebook Lifts Ban on Cryptocurrency Ads
Facebook is lifting its ban on cryptocurrency ads and will now allow few advertisers to promote crypto businesses and services, like exchanges.
October 20, 2023 8:03 PM
Breaking News: Binance Card to Be Discontinued from December 20, 2023
Binance Card would be discontinued from December 20, 2023. The crypto community is abuzz with speculation, trying to decipher the reasons.
July 17, 2023 11:24 PM
Global Crypto Framework: FSB’s Finalized Recommendations
The Financial Stability Board (FSB) has now finalized its recommendations to establish a global regulatory crypto framework.
July 16, 2022 2:40 AM
Why did Celsius Crypto File for Bankruptcy? Here’s What Happened
What does bankruptcy mean for investors in the crypto market? Why did Celsius Crypto file for bankruptcy? Here's the complete story.
More from CryptoTicker