Logo of Parchment

Parchment

Total Value Locked$7,909

TVL by Chain

Sui$7,909

Protocol Information

Parchment is a perpetuals exchange on Sui. Traders post USDC margin and take leveraged long or short positions on crypto, equities and commodities, filled at Pyth Lazer oracle prices against a house pool

X/Twitter
Category:Derivatives

Methodology

TVL: USDC held in the Parchment Exchange vault: trader free balances, margin of open positions, queued payouts and the house pool that is every trade's counterparty. Trading fees earned by the protocol and stakers that still sit in the vault are excluded. Trading volume is high relative to TVL because markets allow 100x-1000x leverage on small margins, and positions are short-lived.View code on GitHub

Competitors

DipCoin Perps ($1.85m)Bluefin Pro ($1.23m)Sudo Perps ($692,418)WaterX ($451,450)Astros Perp ($245,120)ZO Perps ($65,402)Typus Perp ($3,434)ABEx Finance ($1,221)Bluefin LegacyJupiter Perpetual Exchange ($629.94m)

Parchment history

TVL is the default DefiLlama definition. Daily values are UTC snapshots from Nov 11, 2026 to Nov 12, 2026.

All-time high TVL: $8,344 on Nov 12, 2026. All-time low TVL: $8,113 on Nov 11, 2026.

Daily TVL, Nov 11, 2026 to Nov 12, 2026

DateTVL
Nov 11, 2026$8,113
Nov 12, 2026$8,344

TVL at each month end, Nov 2026 to Nov 2026

DateTVL
Nov 12, 2026 (latest)$8,344

The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/parchment

Frequently asked questions

What is Parchment's TVL?

As of Nov 12, 2026, Parchment has $7,909 in total value locked.

What chains does Parchment operate on?

Parchment operates on Sui. Sui holds the largest share at 100%.

How does Parchment's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Parchment ranks #167 by TVL. The category holds $1.794b across 424 protocols, and Parchment accounts for <0.1% of that total. Similar protocols include DipCoin Perps, Bluefin Pro, Sudo Perps, WaterX, Astros Perp, ZO Perps, Typus Perp, ABEx Finance, Bluefin Legacy, and Jupiter Perpetual Exchange.