Logo of Cypher V2

Cypher V2

Total Value Locked$1,658

TVL by Chain

Ethereum$1,658

Key Metrics

DEX Volume 30d$181.50
DEX Volume 30d by chain

Ethereum$181.50

DEX Volume 7d$38.15

Ethereum$38.15

DEX Volume 24h$8.22

Ethereum$8.22

Cumulative DEX Volume$3,672

Ethereum$3,672

Protocol Information

Trade, raise, and launch on Ethereum Layer 1. Purpose-built for Mainnet and owned by its community, Cypher is the engine of Ethereum Capital Markets.

WebsiteX/Twitter
Category:Dexs

Sub Category: AMM

Methodology

TVL: Value of the tokens locked in the liquidity pools.View code on GitHubDEX Volume: Volume of all spot token swaps on the DEXView code on GitHub

Competitors

Uniswap V3 ($1.444b)PancakeSwap AMM ($1.375b)Uniswap V4 ($1.109b)Curve DEX ($1.052b)Uniswap V2 ($788.35m)PancakeSwap AMM V3 ($680.02m)Fluid DEX ($210.61m)Aero Slipstream ($137.08m)THORChain DEX ($59.2m)Aero Basic ($55.76m)

Cypher V2 history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Nov 24, 2025 to Nov 12, 2026.

All-time high TVL: $117,278 on Dec 7, 2025. All-time low TVL: $1,343 on Jun 26, 2026.

Daily TVL, Oct 14, 2026 to Nov 12, 2026

DateTVL
Oct 14, 2026$1,958
Oct 15, 2026$1,903
Oct 16, 2026$1,917
Oct 17, 2026$1,905
Oct 18, 2026$1,900
Oct 19, 2026$1,906
Oct 20, 2026$1,890
Oct 21, 2026$1,920
Oct 22, 2026$1,916
Oct 23, 2026$1,888
Oct 24, 2026$1,874
Oct 25, 2026$1,872
Oct 26, 2026$1,845
Oct 27, 2026$1,848
Oct 28, 2026$1,865
Oct 29, 2026$1,860
Oct 30, 2026$1,788
Oct 31, 2026$1,794
Nov 1, 2026$1,811
Nov 2, 2026$1,827
Nov 3, 2026$1,801
Nov 4, 2026$1,805
Nov 5, 2026$1,909
Nov 6, 2026$1,795
Nov 7, 2026$1,796
Nov 8, 2026$1,792
Nov 9, 2026$1,743
Nov 10, 2026$1,725
Nov 11, 2026$1,675
Nov 12, 2026$1,680

TVL at each month end, Nov 2025 to Nov 2026

DateTVL
Nov 30, 2025$7,094
Dec 31, 2025$7,358
Jan 31, 2026$7,091
Feb 28, 2026$2,331
Mar 31, 2026$2,184
Apr 30, 2026$2,169
May 31, 2026$1,661
Jun 30, 2026$1,380
Jul 31, 2026$1,584
Aug 31, 2026$1,908
Sep 30, 2026$2,056
Oct 31, 2026$1,794
Nov 12, 2026 (latest)$1,680

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/cypher-v2

Frequently asked questions

What is Cypher V2's TVL?

As of Nov 12, 2026, Cypher V2 has $1,658 in total value locked. TVL has decreased 12.9% over the past 30 days.

What chains does Cypher V2 operate on?

Cypher V2 operates on Ethereum. Ethereum holds the largest share at 100%.

How does Cypher V2's TVL compare to similar protocols?

Among Dexs protocols tracked by DefiLlama, Cypher V2 ranks #1,231 by TVL. The category holds $11.999b across 1,935 protocols, and Cypher V2 accounts for <0.1% of that total. Similar protocols include Uniswap V3, PancakeSwap AMM, Uniswap V4, Curve DEX, Uniswap V2, PancakeSwap AMM V3, Fluid DEX, Aero Slipstream, THORChain DEX, and Aero Basic.

How much trading volume does Cypher V2 process?

Cypher V2 processed $181.50 in DEX volume over the past 30 days.