Ask about Margin Zero · freeTotal Value Locked$41,073
TVL by Chain
Sonic$41,073
Key Metrics
Cumulative Fees$7,660
Cumulative Fees by chain
Sonic$7,660
Cumulative Revenue$7,660
Cumulative Revenue by chain
Sonic$7,660
Protocol Information
MarginZero is an omni-chain, oracle-less and permission-less options & protected perpetual protocol
Audits:
Methodology
TVL: TVL is calculated by summing the value of all tokens in Margin Zero liquidity positions across supported chainsView code on GitHubFees: Total fees from minted options.View code on GitHubRevenue: Protocol revenue from minted options.View code on GitHubCompetitors
Margin Zero history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Jan 10, 2025 to Oct 20, 2026.
All-time high TVL: $495,104 on Mar 26, 2025. All-time low TVL: $14,111 on Jun 26, 2026.
Daily TVL, Sep 21, 2026 to Oct 20, 2026
| Date | TVL |
|---|---|
| Sep 21, 2026 | $28,647 |
| Sep 22, 2026 | $28,390 |
| Sep 23, 2026 | $30,457 |
| Sep 24, 2026 | $28,934 |
| Sep 25, 2026 | $29,642 |
| Sep 26, 2026 | $29,792 |
| Sep 27, 2026 | $28,619 |
| Sep 28, 2026 | $28,978 |
| Sep 29, 2026 | $27,656 |
| Sep 30, 2026 | $27,064 |
| Oct 1, 2026 | $29,623 |
| Oct 2, 2026 | $28,008 |
| Oct 3, 2026 | $27,398 |
| Oct 4, 2026 | $29,985 |
| Oct 5, 2026 | $29,304 |
| Oct 6, 2026 | $31,501 |
| Oct 7, 2026 | $31,302 |
| Oct 8, 2026 | $28,485 |
| Oct 9, 2026 | $27,846 |
| Oct 10, 2026 | $31,812 |
| Oct 11, 2026 | $34,803 |
| Oct 12, 2026 | $42,639 |
| Oct 13, 2026 | $42,478 |
| Oct 14, 2026 | $42,532 |
| Oct 15, 2026 | $38,821 |
| Oct 16, 2026 | $40,392 |
| Oct 17, 2026 | $39,068 |
| Oct 18, 2026 | $38,012 |
| Oct 19, 2026 | $37,221 |
| Oct 20, 2026 | $41,465 |
TVL at each month end, Jan 2025 to Oct 2026
| Date | TVL |
|---|---|
| Jan 31, 2025 | $18,970 |
| Feb 28, 2025 | $358,794 |
| Mar 31, 2025 | $399,120 |
| Apr 30, 2025 | $390,352 |
| May 31, 2025 | $286,840 |
| Jun 30, 2025 | $241,695 |
| Jul 31, 2025 | $232,471 |
| Aug 31, 2025 | $231,035 |
| Sep 30, 2025 | $180,848 |
| Oct 31, 2025 | $105,261 |
| Nov 30, 2025 | $77,988 |
| Dec 31, 2025 | $55,338 |
| Jan 31, 2026 | $44,230 |
| Feb 28, 2026 | $28,755 |
| Mar 31, 2026 | $29,363 |
| Apr 30, 2026 | $32,682 |
| May 31, 2026 | $29,389 |
| Jun 30, 2026 | $17,728 |
| Jul 31, 2026 | $15,765 |
| Aug 31, 2026 | $20,163 |
| Sep 30, 2026 | $27,064 |
| Oct 20, 2026 (latest) | $41,465 |
Fees and revenue by UTC calendar month, Feb 2025 to Feb 2026
| Month | Fees | Revenue |
|---|---|---|
| Feb 2025 | $5,491 | $5,491 |
| Mar 2025 | $1,981 | $1,981 |
| Apr 2025 | $188 | $188 |
| May 2025 | $0 | $0 |
| Jun 2025 | $0 | $0 |
| Jul 2025 | $0 | $0 |
| Aug 2025 | $0 | $0 |
| Sep 2025 | $0 | $0 |
| Oct 2025 | $0 | $0 |
| Nov 2025 | $0 | $0 |
| Dec 2025 | $0 | $0 |
| Jan 2026 | $0 | $0 |
| Feb 2026 | $0 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/margin-zero
Frequently asked questions
What is Margin Zero's TVL?
As of Oct 20, 2026, Margin Zero has $41,073 in total value locked. TVL has increased 72% over the past 30 days.
What chains does Margin Zero operate on?
Margin Zero operates on Sonic. Sonic holds the largest share at 100%.
How does Margin Zero's TVL compare to similar protocols?
Among Options protocols tracked by DefiLlama, Margin Zero ranks #36 by TVL. The category holds $211.69m across 73 protocols, and Margin Zero accounts for <0.1% of that total. Similar protocols include Deri V4, Stryke CLAMM, Derive V3 Options, Hegic, Panoptic V2, SOFA.org, Ribbon Earn, Opyn Gamma, Hypercall, and PsyOptions.