Ask about Defx
Logo of DefxDefx
Total Value Locked$12,606.37

TVL by Chain

Ethereum$12,449.26

Base$87.21

Polygon$57.36

Arbitrum$12.54

BSC$0

Solana$0

Key Metrics

Fees (Annualized)$77,485.51
Cumulative Fees$27,173

Off Chain$27,173

Cumulative Perp Volume$1.529b
Cumulative Perp Volume by chain

Off Chain$824.72m

Arbitrum$704.19m

Total Raised$2.5m

Jun 13, 2025$2.5mRound: SeedInvestors: Pantera Capital, CMT Digital, gumi Cryptos Capital, Baboon VC, CoinShares, Robot Ventures, Cadenza Ventures, Sandeep Nailwal

Protocol Information

Defx is a DEX and L1. It’s perpetual futures offers up to 25x leverage in the regular markets, and up to 1000x in Degen mode. The L1 is built on tendermint’s consensus and is EVM compatible. Defx delivers a CEX-like experience without any usability trade offs.

Category:Derivatives

Audits:

Twitter

Methodology

TVL: DefX TVL is calculated by summing the value of all supported tokens locked in DefX contracts.View code on GitHubFees: Fees paid by usersView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHub

Competitors

Contango V2 ($6.16m)Lynx ($175,371.64)Vest Markets ($162,973.4)Apex Omni ($29.7m)ApeX Pro ($1.43m)Jupiter Perpetual Exchange ($699.94m)GMX V2 Perps ($172.37m)Extended Perps ($128.25m)Derive V2 ($112.1m)dYdX V3 ($37.8m)

Frequently Asked Questions

What is Defx?

Defx is a DEX and L1. It’s perpetual futures offers up to 25x leverage in the regular markets, and up to 1000x in Degen mode. The L1 is built on tendermint’s consensus and is EVM compatible. Defx delivers a CEX-like experience without any usability trade offs.

What is Defx's TVL?

Defx currently has $12,606.37 in total value locked. TVL has increased 14.1% over the past 30 days.

What chains does Defx operate on?

Defx operates on 6 chains: Polygon, Base, BSC, Solana, and Ethereum and 1 others. Ethereum holds the largest share at 98.8%.

How does Defx's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Defx ranks #142 by TVL. The category holds $1.895b across 369 protocols, and Defx accounts for <0.1% of that total. Other leading protocols include Jupiter, Hyperliquid, and GMX.