⚠️ MAJOR UPDATE — CakeDeFi rebranded to Bake, then changed ownership in 2025. CakeDeFi (now Bake at bake.io) was sold to GSTechnologies in 2025. Singapore users lost access effective May 1, 2025 due to regulatory issues. The platform remains operational globally under new ownership. Existing CakeDeFi users can log in with the same credentials on bake.io.
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Bake (formerly CakeDeFi) is a crypto yield platform offering staking, liquidity mining, and passive income on BTC, ETH, USDT, DFI and other assets. Originally founded in Singapore in 2019 by Julian Hosp and U-Zyn Chua; sold to GSTechnologies in 2025. Singapore users restricted from May 2025. Platform operational globally under new ownership.
| 📊 Feature | Details |
|---|---|
| ⭐ Rating | 3.3 / 5 |
| Current Name | Bake (formerly CakeDeFi) |
| Founded | June 2019, Singapore — Julian Hosp + U-Zyn Chua |
| Current Owner | GSTechnologies (acquired 2025) |
| Status | ✅ Operational globally (⚠️ Singapore users restricted May 2025) |
| Services | Staking, Liquidity Mining, Freezer (lock for up to 10 years) |
| Staking Fee | 10% of rewards (15% for DFI, DASH, MATIC) |
| Deposit Fee | Free (ETH: one-time $10 wallet generation fee) |
| Supported Assets | BTC, ETH, USDT, DFI, LTC, DASH, DOGE, BCH |
| Platform Type | Centralized DeFi yield platform (not a DEX) |
| 👉 Visit Bake (formerly CakeDeFi) — Crypto Staking & Yield → | |
Key Takeaways — 2025/2026 Updates
- CakeDeFi rebranded to Bake in 2024 and operates at bake.io. In 2025, the platform was sold to GSTechnologies. The original founders Julian Hosp and U-Zyn Chua are no longer running the platform. Due diligence on the new ownership is warranted before depositing.
- Singapore users restricted from May 1, 2025 — accounts restricted with a withdrawal deadline of April 30, 2025. This was due to regulatory compliance issues with Singapore’s MAS. Users in other regions continue to have access.
- ⚠️ Not truly DeFi — Bake/CakeDeFi is a centralized platform that uses DeFi branding. The platform custodies your funds (you don’t hold your keys). The staking rewards come from DeFiChain (DFI) and related protocols — not from purely decentralized smart contracts.
- 10% fee on all staking rewards (15% on DFI, DASH, MATIC). This is taken from your earnings, not your principal. Yields are displayed after fees are deducted.
- For Singapore-based investors: do not use Bake. For other regions: exercise additional caution given the 2025 ownership change. Always verify current operational status before depositing.
⚡ Bottom Line: Bake (formerly CakeDeFi) is no longer what it was in 2021–2023. The platform has changed ownership, lost Singapore users, and the original founders are gone. If you’re outside Singapore and comfortable with the new GSTechnologies ownership, the staking and yield products still function. For most users, safer and more transparent alternatives exist — YouHodler (for crypto lending), or self-custody staking via Lido or Rocket Pool.
⚠️ Risk Disclaimer: Not available in Singapore. Centralized platform — you don’t hold your keys. New ownership since 2025. Staking rewards are not guaranteed. This is not financial advice.
