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Ethereal DEX(USDe)

Total Value Locked$1.7m

TVL by Chain

Ethereal$1.7m

Key Metrics

Cumulative Fees$2.95m
Cumulative Fees by chain

Ethereal$2.95m

Cumulative Revenue$2.95m
Cumulative Revenue by chain

Ethereal$2.95m

Cumulative Perp Volume$9.576b
Cumulative Perp Volume by chain

Ethereal$9.576b

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Protocol Information

Ethereal is a non-custodial DEX for spot and perpetual contracts built on the Ethena Network, using USDe as the primary collateral and engineered for CEX-level performance with DeFi security

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Category:Derivatives

Audits:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: All trading fees paid by usersView code on GitHubRevenue: All the fees is revenueView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHub

Competitors

Jupiter Perpetual Exchange ($747.57m)GMX V2 Perps ($211.87m)Hyperliquid HLP ($179.18m)Extended Perps ($116.95m)Lighter Robinhood Perps ($112.44m)dYdX V4 ($70.31m)Papertrade ($66.61m)Arcus Perps ($58.19m)AZverse Perps ($52m)dYdX V3 ($31.07m)

Frequently asked questions

What is Ethereal DEX's TVL?

Ethereal DEX currently has $1.7m in total value locked. TVL has decreased 42.6% over the past 30 days.

What chains does Ethereal DEX operate on?

Ethereal DEX operates on Ethereal. Ethereal holds the largest share at 100%.

How does Ethereal DEX's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Ethereal DEX ranks #44 by TVL. The category holds $1.975b across 422 protocols, and Ethereal DEX accounts for 0.1% of that total. Other leading protocols include Jupiter Perpetual Exchange, GMX V2 Perps, Hyperliquid HLP, Extended Perps, Lighter Robinhood Perps, dYdX V4, Papertrade, Arcus Perps, AZverse Perps, and dYdX V3.