Total Value Locked$242,660
TVL by Chain
Morph$242,660
Key Metrics
Fees 30d$229.18
Fees 30d by chain
Morph$229.18
Fees 7d$76.30
Morph$76.30
Fees 24h$5.53
Morph$5.53
Cumulative Fees$403,014
Morph$403,014
Revenue 30d$65.47
Revenue 30d by chain
Morph$65.47
Revenue 7d$21.80
Morph$21.80
Revenue 24h$1.58
Morph$1.58
Cumulative Revenue$115,132
Morph$115,132
DEX Volume 30d$65,136
DEX Volume 30d by chain
Morph$65,136
DEX Volume 7d$21,788
Morph$21,788
DEX Volume 24h$1,578
Morph$1,578
Cumulative DEX Volume$115.54m
Morph$115.54m
Protocol Information
BulbaSwap, the central trading and liquidity marketplace on MorphL2
Sub Category: AMM
Methodology
TVL: Value of the tokens locked in the liquidity pools.View code on GitHubFees: Swap fees paid by usersView code on GitHubRevenue: Percentage of swap fees going to treasury and/or token holdersView code on GitHubDEX Volume: Volume of all spot token swaps on the DEXView code on GitHubCompetitors
BulbaSwap V2 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Oct 30, 2024 to Oct 27, 2026.
All-time high TVL: $44.2m on May 23, 2025. All-time low TVL: $120,374 on Oct 30, 2024.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $279,578 |
| Sep 29, 2026 | $277,340 |
| Sep 30, 2026 | $276,579 |
| Oct 1, 2026 | $276,875 |
| Oct 2, 2026 | $277,773 |
| Oct 3, 2026 | $276,349 |
| Oct 4, 2026 | $275,210 |
| Oct 5, 2026 | $277,827 |
| Oct 6, 2026 | $278,064 |
| Oct 7, 2026 | $278,230 |
| Oct 8, 2026 | $269,376 |
| Oct 9, 2026 | $262,259 |
| Oct 10, 2026 | $263,722 |
| Oct 11, 2026 | $265,180 |
| Oct 12, 2026 | $268,054 |
| Oct 13, 2026 | $262,243 |
| Oct 14, 2026 | $265,648 |
| Oct 15, 2026 | $259,435 |
| Oct 16, 2026 | $260,850 |
| Oct 17, 2026 | $260,236 |
| Oct 18, 2026 | $258,140 |
| Oct 19, 2026 | $259,236 |
| Oct 20, 2026 | $259,123 |
| Oct 21, 2026 | $255,186 |
| Oct 22, 2026 | $255,408 |
| Oct 23, 2026 | $247,637 |
| Oct 24, 2026 | $244,724 |
| Oct 25, 2026 | $244,017 |
| Oct 26, 2026 | $241,554 |
| Oct 27, 2026 | $242,659 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $3.57m |
| Dec 31, 2024 | $5.21m |
| Jan 31, 2025 | $5.14m |
| Feb 28, 2025 | $3.99m |
| Mar 31, 2025 | $23.41m |
| Apr 30, 2025 | $43.43m |
| May 31, 2025 | $43.93m |
| Jun 30, 2025 | $43.91m |
| Jul 31, 2025 | $4.62m |
| Aug 31, 2025 | $4.94m |
| Sep 30, 2025 | $5.06m |
| Oct 31, 2025 | $492,042 |
| Nov 30, 2025 | $382,276 |
| Dec 31, 2025 | $346,467 |
| Jan 22, 2026 | $329,916 |
| Feb 28, 2026 | $228,273 |
| Mar 31, 2026 | $222,824 |
| Apr 21, 2026 | $234,109 |
| May 31, 2026 | $243,308 |
| Jun 30, 2026 | $202,806 |
| Jul 31, 2026 | $220,635 |
| Aug 31, 2026 | $261,826 |
| Sep 30, 2026 | $276,579 |
| Oct 27, 2026 (latest) | $242,659 |
TVL at each year end, Dec 31, 2024 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2024 | $5.21m |
| Dec 31, 2025 | $346,467 |
Fees and revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue |
|---|---|---|
| Nov 2024 | $8,622 | $2,463 |
| Dec 2024 | $52,391 | $14,969 |
| Jan 2025 | $84,748 | $24,213 |
| Feb 2025 | $55,381 | $15,823 |
| Mar 2025 | $51,559 | $14,731 |
| Apr 2025 | $13,068 | $3,734 |
| May 2025 | $12,314 | $3,520 |
| Jun 2025 | $8,525 | $2,435 |
| Jul 2025 | $9,450 | $2,700 |
| Aug 2025 | $14,783 | $4,226 |
| Sep 2025 | $73,998 | $21,144 |
| Oct 2025 | $10,666 | $3,049 |
| Nov 2025 | $2,359 | $675.86 |
| Dec 2025 | $623.34 | $177.09 |
| Jan 2026 | $441.16 | $126.08 |
| Feb 2026 | $538.03 | $153.37 |
| Mar 2026 | $359.41 | $102.19 |
| Apr 2026 | $291.92 | $83.70 |
| May 2026 | $196.57 | $56.35 |
| Jun 2026 | $388.73 | $110.97 |
| Jul 2026 | $149.42 | $42.85 |
| Aug 2026 | $243.15 | $69.44 |
| Sep 2026 | $391.32 | $111.92 |
| Oct 2026 (to date) | $205.86 | $58.80 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/bulbaswap-v2
Frequently asked questions
What is BulbaSwap V2's TVL?
As of Oct 27, 2026, BulbaSwap V2 has $242,660 in total value locked. TVL has decreased 13% over the past 30 days.
What chains does BulbaSwap V2 operate on?
BulbaSwap V2 operates on Morph. Morph holds the largest share at 100%.
How much has BulbaSwap V2 generated in fees and revenue?
Over the past 30 days, BulbaSwap V2 generated $229.18 in fees. Of that, $65.47 was protocol revenue. Based on the trailing year, the annualized rate is $6,692 in fees and $1,913 in revenue.
How does BulbaSwap V2's TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, BulbaSwap V2 ranks #439 by TVL. The category holds $13.448b across 1,923 protocols, and BulbaSwap V2 accounts for <0.1% of that total. Similar protocols include BulbaSwap V3, iZiSwap, AbstraDEX, MorFi, Momodrome, Uniswap V3, PancakeSwap AMM, Uniswap V4, Curve DEX, and Raydium AMM.
How much trading volume does BulbaSwap V2 process?
BulbaSwap V2 processed $65,136 in DEX volume over the past 30 days.