Cakepie

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

Cakepie's governance or utility token carries a market capitalisation of $2.1M based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token ($2.1M) above the protocol's on-chain TVL ($492K) — a mcap/TVL multiple of 4.17× implies investors are paying for expected future fee flows rather than current deposits alone. A further $42.9K 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.

Cakepie is published as a versioned release inside the Magpie Ecosystem protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Cakepie is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Jan 10, 2024
   Listed on DeFiLlama

Cakepie operates in the Yield category of DeFi. It is deployed on Binance. The codebase has been independently audited (2 reports on file).

Cakepie is a single-chain protocol, deployed exclusively on Binance — this concentrates execution risk but simplifies the trust model. Roughly 100% of its on-chain value sits on just three networks (Binance, Binance-staking, staking), so a fault on any one of them would affect a large slice of users. Two audit reports are published on DeFiLlama, which is in line with typical practice for protocols at this scale. Its token market cap ($2.1M) currently exceeds total value locked ($492K) — a mcap/TVL ratio of 4.17 suggests the market is pricing in more growth than current deposits support.

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

Cakepie is one of 7 Yield protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Pendle, Spark Savings, Convex Finance, and 3 more. These peer protocols collectively secure $5.2B in deposits, giving you a frame of reference for whether Cakepie's own TVL is at the top, middle, or tail of the category.

Pendle

TVL $2.3B · 24h +0.37%

Spark Savings

TVL $1.4B · 24h +0.35%

Convex Finance

TVL $722.7M · 24h +0.66%

Multipli.fi

TVL $342.7M · 24h -0.01%

Strata Markets

TVL $259.5M · 24h +0.70%

infiniFi

TVL $177M · 24h +1.74%