Morphex V2(MPX)
Total Value Locked$5.46
TVL by Chain
BSC$3.09
Fantom$2.37
Key Metrics
Cumulative Fees$1.69m
Cumulative Fees by chain
Fantom$1.57m
BSC$122,565
Cumulative Revenue$507,766
Cumulative Revenue by chain
Fantom$470,991
BSC$36,775
Cumulative Holders Revenue$507,766
Cumulative Holders Revenue by chain
Fantom$470,991
BSC$36,775
Cumulative Perp Volume$318.11m
Cumulative Perp Volume by chain
Fantom$302.31m
BSC$15.8m
Staked$0
Protocol Information
Decentralized perpetual exchange, powered by Fantom.
Methodology
TVL: Morphex liquidity is calculated by the value of tokens in the MLP pool. TVL also includes MPX staked.View code on GitHubFees: Fees from open/close position (0.1%), liquidations, swap (0.2% to 0.8%), mint and burn (based on tokens balance in the pool) and borrow fee ((assets borrowed)/(total assets in pool)*0.01%)View code on GitHubRevenue: Governance revenue is 30% of all collected fees, which are distributed to MPX stakersView code on GitHubHolders Revenue: 30% of all collected fees are distributed to MPX stakersView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubCompetitors
Morphex V2 history
TVL is the default DefiLlama definition, which excludes Staking. Daily values are UTC snapshots from Mar 13, 2023 to Oct 23, 2026.
All-time high TVL: $3.98m on May 24, 2023. All-time low TVL: $4 on Jun 3, 2026.
Daily TVL, Sep 24, 2026 to Oct 23, 2026
| Date | TVL |
|---|---|
| Sep 24, 2026 | $5 |
| Sep 25, 2026 | $5 |
| Sep 26, 2026 | $5 |
| Sep 27, 2026 | $5 |
| Sep 28, 2026 | $5 |
| Sep 29, 2026 | $5 |
| Sep 30, 2026 | $5 |
| Oct 1, 2026 | $5 |
| Oct 2, 2026 | $5 |
| Oct 3, 2026 | $5 |
| Oct 4, 2026 | $5 |
| Oct 5, 2026 | $5 |
| Oct 6, 2026 | $5 |
| Oct 7, 2026 | $5 |
| Oct 8, 2026 | $5 |
| Oct 9, 2026 | $5 |
| Oct 10, 2026 | $5 |
| Oct 11, 2026 | $5 |
| Oct 12, 2026 | $5 |
| Oct 13, 2026 | $5 |
| Oct 14, 2026 | $5 |
| Oct 15, 2026 | $5 |
| Oct 16, 2026 | $5 |
| Oct 17, 2026 | $5 |
| Oct 18, 2026 | $5 |
| Oct 19, 2026 | $5 |
| Oct 20, 2026 | $5 |
| Oct 21, 2026 | $5 |
| Oct 22, 2026 | $5 |
| Oct 23, 2026 | $5 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1.6m |
| Dec 31, 2024 | $1.39m |
| Jan 31, 2025 | $80,285 |
| Feb 28, 2025 | $30,862 |
| Mar 31, 2025 | $11,988 |
| Apr 30, 2025 | $11,717 |
| May 31, 2025 | $9,409 |
| Jun 30, 2025 | $9,555 |
| Jul 31, 2025 | $11,249 |
| Aug 31, 2025 | $11,395 |
| Sep 30, 2025 | $29,326 |
| Oct 31, 2025 | $27,756 |
| Nov 30, 2025 | $23,006 |
| Dec 31, 2025 | $22,474 |
| Jan 31, 2026 | $21,245 |
| Feb 28, 2026 | $16,574 |
| Mar 31, 2026 | $5 |
| Apr 30, 2026 | $5 |
| May 31, 2026 | $5 |
| Jun 30, 2026 | $4 |
| Jul 31, 2026 | $4 |
| Aug 31, 2026 | $4 |
| Sep 30, 2026 | $5 |
| Oct 23, 2026 (latest) | $5 |
TVL at each year end, Dec 31, 2023 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $1.05m |
| Dec 31, 2024 | $1.39m |
| Dec 31, 2025 | $22,474 |
Fees, revenue and holders revenue by UTC calendar month, Mar 2023 to Oct 2024
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Mar 2023 | $165,432 | $49,631 | $49,631 |
| Apr 2023 | $253,339 | $76,003 | $76,003 |
| May 2023 | $172,030 | $51,608 | $51,608 |
| Jun 2023 | $133,204 | $39,961 | $39,961 |
| Jul 2023 | $63,474 | $19,043 | $19,043 |
| Aug 2023 | $36,092 | $10,824 | $10,824 |
| Sep 2023 | $24,834 | $7,454 | $7,454 |
| Oct 2023 | $93,359 | $28,007 | $28,007 |
| Nov 2023 | $138,256 | $41,478 | $41,478 |
| Dec 2023 | $154,457 | $46,337 | $46,337 |
| Jan 2024 | $87,380 | $26,218 | $26,218 |
| Feb 2024 | $47,008 | $14,102 | $14,102 |
| Mar 2024 | $208,422 | $62,519 | $62,519 |
| Apr 2024 | $99,594 | $29,881 | $29,881 |
| May 2024 | $11,794 | $3,538 | $3,538 |
| Jun 2024 | $1,352 | $406 | $406 |
| Jul 2024 | $1,940 | $582 | $582 |
| Oct 2024 | $580 | $174 | $174 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/morphex-v2
Frequently asked questions
What is Morphex V2's TVL?
As of Oct 23, 2026, Morphex V2 has $5.46 in total value locked. TVL has increased 9.1% over the past 30 days.
What chains does Morphex V2 operate on?
Morphex V2 operates on 2 chains: BSC and Fantom. BSC holds the largest share at 56.6%.
How does Morphex V2's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Morphex V2 ranks #263 by TVL. The category holds $1.985b across 425 protocols, and Morphex V2 accounts for <0.1% of that total. Similar protocols include MUX Perps, Lynx, UniDex Perp, Lif3 Trade, AZverse Perps, Apex Omni, Contango V2, HertzFlow, TurboFlow Perps, and Hakka Finance.