Ask about Swarm Markets · freeTotal Value Locked$23,166
TVL by Chain
Ethereum$22,935
Polygon$231.06
Key Metrics
Market Cap$287,607
$SMT Price$0.0031
Fully Diluted Valuation$458,423
$SMT Volume 24h$3,515
CEX Volume$5,678
DEX Volume$2,553(72.64% of total)
Protocol Information
Swarm Markets is the world's first licensed* high-liquidity DeFi protocol — the convenience and transparency of DeFi with the confidence of financial market compliance.
Sub Category: Weighted Pool AMM
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubHacks
Date: Feb 22, 2024
Amount: $472,892
Classification: Access Control
Technique: Improper Access Control
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Competitors
Swarm Markets history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Dec 2, 2021 to Oct 20, 2026.
All-time high TVL: $5.89m on Mar 27, 2024. All-time low TVL: $25,626 on Oct 15, 2026.
Daily TVL, Sep 21, 2026 to Oct 20, 2026
| Date | TVL |
|---|---|
| Sep 21, 2026 | $36,070 |
| Sep 22, 2026 | $34,424 |
| Sep 23, 2026 | $34,825 |
| Sep 24, 2026 | $32,163 |
| Sep 25, 2026 | $33,480 |
| Sep 26, 2026 | $31,712 |
| Sep 27, 2026 | $29,696 |
| Sep 28, 2026 | $29,501 |
| Sep 29, 2026 | $29,515 |
| Sep 30, 2026 | $29,385 |
| Oct 1, 2026 | $31,218 |
| Oct 2, 2026 | $28,072 |
| Oct 3, 2026 | $28,900 |
| Oct 4, 2026 | $28,348 |
| Oct 5, 2026 | $31,287 |
| Oct 6, 2026 | $28,713 |
| Oct 7, 2026 | $27,199 |
| Oct 8, 2026 | $26,817 |
| Oct 9, 2026 | $27,083 |
| Oct 10, 2026 | $27,203 |
| Oct 11, 2026 | $27,802 |
| Oct 12, 2026 | $26,809 |
| Oct 13, 2026 | $26,208 |
| Oct 14, 2026 | $26,916 |
| Oct 15, 2026 | $25,626 |
| Oct 16, 2026 | $26,714 |
| Oct 17, 2026 | $27,080 |
| Oct 18, 2026 | $26,940 |
| Oct 19, 2026 | $26,755 |
| Oct 20, 2026 | $27,435 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $270,434 |
| Dec 31, 2024 | $210,021 |
| Jan 31, 2025 | $144,292 |
| Feb 28, 2025 | $77,681 |
| Mar 31, 2025 | $86,700 |
| Apr 30, 2025 | $88,959 |
| May 31, 2025 | $81,552 |
| Jun 30, 2025 | $65,489 |
| Jul 31, 2025 | $82,889 |
| Aug 31, 2025 | $134,544 |
| Sep 30, 2025 | $108,044 |
| Oct 31, 2025 | $95,837 |
| Nov 30, 2025 | $72,665 |
| Dec 31, 2025 | $64,994 |
| Jan 31, 2026 | $59,502 |
| Feb 28, 2026 | $76,690 |
| Mar 31, 2026 | $61,795 |
| Apr 30, 2026 | $56,977 |
| May 31, 2026 | $42,701 |
| Jun 30, 2026 | $30,275 |
| Jul 31, 2026 | $32,303 |
| Aug 31, 2026 | $28,585 |
| Sep 30, 2026 | $29,385 |
| Oct 20, 2026 (latest) | $27,435 |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $778,235 |
| Dec 31, 2022 | $232,828 |
| Dec 31, 2023 | $2.42m |
| Dec 31, 2024 | $210,021 |
| Dec 31, 2025 | $64,994 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/swarm-markets
Frequently asked questions
What is Swarm Markets' TVL?
As of Oct 20, 2026, Swarm Markets has $23,166 in total value locked. TVL has decreased 30.6% over the past 30 days.
What chains does Swarm Markets operate on?
Swarm Markets operates on 2 chains: Ethereum and Polygon. Ethereum holds the largest share at 99%.
What is the SMT token price and valuation?
SMT is currently trading at $0.0033. Its circulating market capitalization is $305,345, ranking it #4,813. Its fully diluted valuation is $486,696. Supply currently stands at 92.61m circulating, 147.61m total supply, 250m maximum supply.
How has SMT performed recently?
SMT is down 47.8% over the past 7 days and down 74% over the past 30 days. Its all-time high is $1.32, reached on Mar 26, 2024. The token is currently 99.8% below that level.
How does Swarm Markets' TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, Swarm Markets ranks #884 by TVL. The category holds $14.216b across 1,917 protocols, and Swarm Markets accounts for <0.1% of that total. Similar protocols include Uniswap V3, Uniswap V4, Curve DEX, Uniswap V2, Fluid DEX, SushiSwap V3, SushiSwap, Balancer V2, DODO AMM, and Metric V1.
Has Swarm Markets ever been exploited?
Swarm Markets has 1 recorded security incident. The most recent incident occurred on Feb 22, 2024 and involved $472,892. It was classified as Access Control.