Total Value Locked$131,251
TVL by Chain
Metis$131,251
Key Metrics
DEX Volume 30d$0
DEX Volume 30d by chain
Metis$0
DEX Volume 7d$0
Metis$0
DEX Volume 24h$0
Metis$0
Cumulative DEX Volume$1.013b
Metis$1.013b
Protocol Information
Hermes is the first DEX that allows low cost, near 0 slippage trades on uncorrelated or tightly correlated assets. The protocol incentivizes fees instead of liquidity.
Sub Category: ve(3,3)
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 GitHubHermes V1 history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Feb 10, 2022 to Oct 27, 2026.
All-time high TVL: $260.3m on Mar 14, 2022. All-time low TVL: $125,276 on Aug 16, 2026.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| Sep 28, 2026 | $140,544 |
| Sep 29, 2026 | $138,907 |
| Sep 30, 2026 | $138,498 |
| Oct 1, 2026 | $138,757 |
| Oct 2, 2026 | $138,716 |
| Oct 3, 2026 | $133,160 |
| Oct 4, 2026 | $133,484 |
| Oct 5, 2026 | $133,825 |
| Oct 6, 2026 | $133,681 |
| Oct 7, 2026 | $134,591 |
| Oct 8, 2026 | $132,432 |
| Oct 9, 2026 | $132,012 |
| Oct 10, 2026 | $132,247 |
| Oct 11, 2026 | $132,127 |
| Oct 12, 2026 | $138,451 |
| Oct 13, 2026 | $133,639 |
| Oct 14, 2026 | $135,361 |
| Oct 15, 2026 | $133,610 |
| Oct 16, 2026 | $135,350 |
| Oct 17, 2026 | $137,342 |
| Oct 18, 2026 | $135,990 |
| Oct 19, 2026 | $135,651 |
| Oct 20, 2026 | $138,008 |
| Oct 21, 2026 | $137,030 |
| Oct 22, 2026 | $138,591 |
| Oct 23, 2026 | $137,499 |
| Oct 24, 2026 | $134,742 |
| Oct 25, 2026 | $132,914 |
| Oct 26, 2026 | $131,179 |
| Oct 27, 2026 | $130,966 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.17m |
| Dec 31, 2024 | $958,176 |
| Jan 31, 2025 | $816,098 |
| Feb 28, 2025 | $600,245 |
| Mar 31, 2025 | $514,112 |
| Apr 30, 2025 | $520,043 |
| May 31, 2025 | $531,662 |
| Jun 30, 2025 | $514,728 |
| Jul 31, 2025 | $531,901 |
| Aug 31, 2025 | $535,647 |
| Sep 30, 2025 | $505,721 |
| Oct 31, 2025 | $459,641 |
| Nov 30, 2025 | $438,738 |
| Dec 31, 2025 | $414,877 |
| Jan 31, 2026 | $408,271 |
| Feb 28, 2026 | $390,112 |
| Mar 31, 2026 | $144,388 |
| Apr 30, 2026 | $151,093 |
| May 31, 2026 | $147,416 |
| Jun 30, 2026 | $130,432 |
| Jul 31, 2026 | $128,400 |
| Aug 31, 2026 | $132,016 |
| Sep 30, 2026 | $138,498 |
| Oct 27, 2026 (latest) | $130,966 |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $7.43m |
| Dec 31, 2023 | $12.36m |
| Dec 31, 2024 | $958,176 |
| Dec 31, 2025 | $414,877 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/hermes-v1
Frequently asked questions
What is Hermes V1's TVL?
As of Oct 27, 2026, Hermes V1 has $131,251 in total value locked. TVL has decreased 5.5% over the past 30 days.
What chains does Hermes V1 operate on?
Hermes V1 operates on Metis. Metis holds the largest share at 100%.
How much trading volume does Hermes V1 process?
Hermes V1 processed $0 in DEX volume over the past 30 days.