Mooncake

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.

Aggregate Token Value in the Mooncake Protocol

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

Mooncake is published as a versioned release inside the Ratex 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.

Mooncake es una versión dentro de una familia de protocolos mayor. Abre el protocolo padre para ver el TVL combinado y todas las versiones hermanas.

Eventos importantes señalados por la comunidad de DeFiLlama — lanzamientos del protocolo, exploits, cambios de gobernanza y programas de incentivos.

1. Jan 8, 2026
   Listado en DeFiLlama

Mooncake is a Derivatives protocol where traders open leveraged, perpetual, or option positions priced off oracle feeds and settled in collateral held by the contract. It is deployed on Solana. The codebase has been independently audited (1 report on file).

Mooncake is a single-chain protocol, deployed exclusively on Solana — this concentrates execution risk but simplifies the trust model. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.

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

Mooncake is one of 7 Derivatives protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Jupiter Perpetual Exchange, Hyperliquid HLP, Drift Trade, and 3 more. These peer protocols collectively secure 2265,9 M US$ in deposits, giving you a frame of reference for whether Mooncake's own TVL is at the top, middle, or tail of the category.

Jupiter Perpetual Exchange

TVL 910,6 M US$ · 24h -0.27%

Hyperliquid HLP

TVL 431,7 M US$ · 24h +0.11%

Drift Trade

TVL 334,4 M US$ · 24h +0.22%

GMX V2 Perps

TVL 267,5 M US$ · 24h -0.08%

Extended

TVL 196,4 M US$ · 24h +0.06%

dYdX V4

TVL 125,3 M US$ · 24h +0.58%