What Cake DeFi (Now Bake) Actually Is
Cake DeFi launched as a Singapore-based platform for earning cashflow on crypto through staking, lending, and liquidity mining, along with educational content aimed at making decentralized finance approachable. In June 2023 it rebranded its retail product to Bake, becoming one vertical under a new parent, Cake Group. Ownership changed again in December 2024, when GS Technologies Ltd acquired the business; founders Julian Hosp and U-Zyn Chua are no longer running it.
Most recently — and most relevant to this page — Bake announced on March 28, 2026 that it was suspending crypto-asset trading and deposit services starting April 15, 2026, indefinitely, while it works to secure a MiCA license in Poland. Existing crypto balances were converted to USD at that date, withdrawals are still processed under normal terms, and there’s no announced date for deposits (or new-user bonuses) to return.
This is exactly how the process worked before the April 2026 suspension. We’re leaving it intact rather than deleting it, in case Bake resumes deposits later:
Related on Couponsuck
CCrescent App Referral Code: Discontinued — Try Current Instead (2026)Money & BankingXXoom Coupon CodeMoney & BankingAffiliate link: we may earn a commission when you use our codes.
Sign up through our referral link, which carries code 548573 automatically — no need to type it in.
Verify your identity. Cake DeFi/Bake requires standard KYC checks before you can deposit.
Code: 548573
Deposit at least $50 in any supported cryptocurrency.
Allocate the deposit to Lending, Staking Freezer, or Liquidity Mining — it has to actually be put to work, not just sit in your wallet.
Receive your DFI bonus — historically $20 to $30 worth of DFI tokens, on top of whatever base new-user bonus was running.
Referrers, meanwhile, earned up to 1% per year on their referrals’ account balances, paid out annually — the piece that made the program worth sharing repeatedly, not just once.
Related Cake DeFi / Bake Pages
See the invite-code bonus breakdown, our confirmation that 548573 is current, or a working crypto bonus today via Nexo’s referral code.
View the current offer ↗The Full Sign-Up Bonus Walkthrough (For Reference)
Frequently Asked Questions
Can I sign up for Cake DeFi/Bake right now?
You can likely still create an account, but you can’t deposit new crypto into it, which means the sign-up bonus described above has nothing to trigger it at the moment.
Is the Cake Defi Referral Code 548573 still valid?
It’s still the code tied to our current sign-up link, yes — but “valid” and “currently useful” are different things right now. Until Bake resumes crypto deposits, no code, ours included, can unlock the bonus.
What was the exact bonus amount before the suspension?
Historically, $20–$30 worth of DFI tokens for the new user after a qualifying $50+ deposit, often marketed together with the account’s base bonus as “up to $50.” Exact figures shifted over time, which is part of why this page has used more than one number across its history.
What should I use instead while this is paused?
If you’re specifically after a working crypto sign-up bonus, we currently track Nexo’s referral bonus — a 30-day Platinum-tier trial plus up to $2,500 in NEXO tokens once you deposit $5,000+ and hold it 30 days — verified live as of July 2026.
When was this page last checked?
We verified Bake’s official suspension announcement, site banner, and referral page status directly in July 2026. Confirm current terms at bake.io before relying on anything above.
More in Money & Banking
The Cake Defi offer is history.
The record lives here.
The original details are preserved above — and the intro points to what still works today.
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