Meaning - Awesome

Background - Cakeside originated from a cupcake rapper. The side where some of the cupcake has stuck to the rapper or "cakeside" is better then the outer side of the rapper with no cupcake on it.
Definition - "Man, that party last night was totally CAKESIDE."

"How you doing?" "I'm on the CAKESIDE."
by Cakeside March 8, 2010
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