Snake Finance

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Pool2 deposits consist of SNAKE/S and GSNAKE/S LP tokens deposits while the staking TVL consists of the GSNAKEs tokens locked within the Masonry contract(0x5A5d34826ab31003F26F8A15e9B645803d85eA81).

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Snake Finance's governance or utility token carries a market capitalisation of 101.556 $ based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token (101.556 $) above the protocol's on-chain TVL (16,2 $) — a mcap/TVL multiple of 6274.94× implies investors are paying for expected future fee flows rather than current deposits alone. A further 50.041,9 $ sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Wichtige Ereignisse, die von der DeFiLlama-Community markiert wurden — Protokoll-Launches, Exploits, Governance-Änderungen und Anreizprogramme.

1. Feb 7, 2025
   Auf DeFiLlama gelistet
2. Feb 15, 2025
   Genesis Phase Ended

Snake Finance is a Algo-Stables issuance protocol — it mints stable units against collateral (crypto, RWA, or off-chain reserves) and uses redemption or rebalancing mechanisms to hold the peg. It is deployed on Sonic. DeFiLlama tracks 1 historical event for this protocol since 2025.

Snake Finance is a single-chain protocol, deployed exclusively on Sonic — this concentrates execution risk but simplifies the trust model. TVL is comparatively balanced across networks: even the largest deployment (Sonic-pool2) holds only 35% of the protocol's value. Price feeds come from a single oracle provider (DIA); an outage or manipulation of that feed would propagate into every market the protocol prices. Its token market cap (101.556 $) currently exceeds total value locked (16,2 $) — a mcap/TVL ratio of 6274.94 suggests the market is pricing in more growth than current deposits support.

Verified external resources for Snake Finance — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Snake Finance is one of 7 Algo-Stables protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Frax, Mento V2, Generic.Money, and 3 more. These peer protocols collectively secure 86,8 Mio. $ in deposits, giving you a frame of reference for whether Snake Finance's own TVL is at the top, middle, or tail of the category.

Frax

TVL 63,3 Mio. $ · 24h +0.03%

Mento V2

TVL 17,6 Mio. $ · 24h +1.42%

Generic.Money

TVL 3,5 Mio. $ · 24h +0.00%

DefiDollar DAO

TVL 864.245,2 $ · 24h +3.23%

Lumi Finance

TVL 841.774,3 $ · 24h -0.17%

Sigmausd

TVL 565.734,5 $ · 24h -2.12%