Razer, the gamers and customers of IT and gaming hardware firm, are set to plug into the world of decentralized finance (DeFi) through a new rewards swap program in partnership with Cake DeFi.
It has been reported that Razer remains a household favorite brand for gamers around the world, with its Razer Gold rewards program allowing gamers to earn and redeem Razer Silver points for a variety of hardware and digital rewards, including Steam games and discount vouchers.
However, Cake DeFi has teamed up with the rewards program from Razer to enable customers the ability to convert Razer Silver points into Cake DeFi vouchers. This essentially provides a bridge from the Razer loyalty program to the world of cryptocurrencies and DeFi products.
The report said that Razer gamers will be given exclusive access to Cake DeFi yield-generating services at the launch of the collaboration, while the DeFi platform is offering discounts and sign-up rewards to new users signing up through the partnership. Ten thousand Razer Silver points will give customers a $5 Cake DeFi voucher.
Likewise, vouchers will be automatically converted at the market value rate in DeFiChain's native token DFI. These tokens are then allocated to the Cake DeFi staking pool, which pays rewards every 12 hours to DFI stakers.
Razer's software platform has more than 175 million users around the world that make use of its package of applications to manage and customize their hardware and programs. The company also provides payment services for "gamers, youth, millennials, and Gen Z" through its Razer Fintech and Razer Gold services.
Thus, Cake DeFi operates out of Singapore and offers DeFi services and products to users with a primary focus on staking services for cryptocurrency holders. The platform has generated $317 million in staking rewards since its inception up until March 2022.