PigeonHouse

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.

TVL counts non-PIGEON reserves (SOL, SKR) in active bonding curves. Staking counts PIGEON reserves. Graduated curves are excluded.

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

PigeonHouse's governance or utility token carries a market capitalisation of 2 M US$ based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token (2 M US$) above the protocol's on-chain TVL (905,8 US$) — a mcap/TVL multiple of 2225.68× implies investors are paying for expected future fee flows rather than current deposits alone. A further 4,3 mil US$ 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.

PigeonHouse operates in the Launchpad category of DeFi. It is deployed on Solana.

PigeonHouse is a single-chain protocol, deployed exclusively on Solana — this concentrates execution risk but simplifies the trust model. Roughly 100% of its on-chain value sits on just three networks (Solana-staking, staking, Solana), so a fault on any one of them would affect a large slice of users. Its token market cap (2 M US$) currently exceeds total value locked (905,8 US$) — a mcap/TVL ratio of 2225.68 suggests the market is pricing in more growth than current deposits support.

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

PigeonHouse is one of 7 Launchpad protocols Mantapex tracks in this category. Direct peers ranked by total value locked include PinkSale, DxSale, Aerodrome Ignition, and 3 more. These peer protocols collectively secure 241,5 M US$ in deposits, giving you a frame of reference for whether PigeonHouse's own TVL is at the top, middle, or tail of the category.

PinkSale

TVL 167,4 M US$ · 24h -0.75%

DxSale

TVL 29,4 M US$ · 24h -0.06%

Aerodrome Ignition

TVL 25,2 M US$ · 24h +0.31%

Juicebox V1

TVL 12 M US$ · 24h +0.67%

four.meme

TVL 4,6 M US$ · 24h +0.09%

Bio Protocol

TVL 2,9 M US$ · 24h -0.60%