Ask about Covo Finance
Logo of Covo FinanceCovo Finance(COVO)
Total Value Locked$466

TVL by Chain

Polygon$466

Key Metrics

Fees (Annualized)$0
Cumulative Fees$86,424

Polygon$86,424

Revenue (Annualized)$0
Cumulative Revenue$34,570

Polygon$34,570

Holders Revenue (Annualized)$0
Cumulative Holders Revenue$34,570

Polygon$34,570

Cumulative Perp Volume$63.48m
Cumulative Perp Volume by chain

Polygon$63.48m

Staked$0

$COVO Liquidity$17,834

Uniswap V3$17,834

Protocol Information

Covo Finance is a decentralized trading platform that offers spot and perpetual trading with low swap fees and zero market impact. The platform offers a maximum leverage of 50x on major cryptos and is backed by a singular multi-asset pool that generates income for liquidity providers through fees garnered from market making, swap transactions, leveraged trading (including spreads, funding fees, and liquidations), and rebalancing of assets.

Category:Derivatives

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Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Covo V1 - Fees from open/close position, swap, mint and burn (based on tokens balance in the pool) and borrow fee ((assets borrowed)/(total assets in pool)*0.01%)View code on GitHubCovo V2 - Fees collected from open/close position, liquidations, and borrow feeView code on GitHub

Revenue:

Covo V1 - Revenue is 30% of all collected fees, which goes to COVO stakersView code on GitHubCovo V2 - Revenue is 40% of all collected fees, which goes to COVO stakersView code on GitHub

Holders Revenue:

Covo V1 - 30% of all collected fees goes to COVO stakersView code on GitHubCovo V2 - 40% of all collected fees goes to COVO stakersView code on GitHub

Perp Volume: Notional volume of all trades including leverage on the perp exchange

Competitors

Gains Network ($11m)Contango V2 ($6.16m)ApeX Pro ($1.43m)Domination Finance ($550,663.34)Vest Markets ($289,559.96)MUFEX ($276,366.77)Jarvis Network ($271,474.85)HMX ($250,836.67)Lynx ($177,318.5)Float ($143,276.86)

Frequently Asked Questions

What is Covo Finance?

Covo Finance is a decentralized trading platform that offers spot and perpetual trading with low swap fees and zero market impact. The platform offers a maximum leverage of 50x on major cryptos and is backed by a singular multi-asset pool that generates income for liquidity providers through fees garnered from market making, swap transactions, leveraged trading (including spreads, funding fees, and liquidations), and rebalancing of assets.

What is Covo Finance's TVL?

Covo Finance currently has $466 in total value locked. TVL has increased 0% over the past 30 days.

What chains does Covo Finance operate on?

Covo Finance operates on Polygon. Polygon holds the largest share at 100%.

How does Covo Finance's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Covo Finance ranks #214 by TVL. The category holds $1.892b across 369 protocols, and Covo Finance accounts for <0.1% of that total. Other leading protocols include Jupiter, Hyperliquid, and GMX.