Ask about Railgun · freeTotal Value Locked$103.38m
TVL by Chain
Ethereum$99.24m
Arbitrum$2.96m
BSC$746,049
Polygon$434,409
Key Metrics
Fees 30d$352,088
Fees 30d by chain
Ethereum$297,674
Arbitrum$43,131
BSC$7,122
Polygon$4,159
Fees 7d$107,693
Ethereum$90,527
Arbitrum$14,641
BSC$1,940
Polygon$582.36
Fees 24h$15,977
Ethereum$14,123
Arbitrum$1,493
Polygon$221
BSC$140
Cumulative Fees$14.24m
Ethereum$12.81m
Arbitrum$847,416
BSC$305,969
Polygon$281,171
Revenue 30d$352,088
Revenue 30d by chain
Ethereum$297,674
Arbitrum$43,131
BSC$7,122
Polygon$4,159
Revenue 7d$107,693
Ethereum$90,527
Arbitrum$14,641
BSC$1,940
Polygon$582.36
Revenue 24h$15,977
Ethereum$14,123
Arbitrum$1,493
Polygon$221
BSC$140
Cumulative Revenue$14.24m
Ethereum$12.81m
Arbitrum$847,416
BSC$305,969
Polygon$281,171
Holders Revenue 30d$202,254
Holders Revenue 30d by chain
Ethereum$202,254
Arbitrum$0
BSC$0
Polygon$0
Holders Revenue 7d$0
Arbitrum$0
BSC$0
Ethereum$0
Polygon$0
Holders Revenue 24h$0
Arbitrum$0
BSC$0
Ethereum$0
Polygon$0
Cumulative Holders Revenue$3.16m
Ethereum$3.16m
Arbitrum$0
BSC$0
Polygon$0
Market Cap$99.12m
$RAIL Price$1.65
Fully Diluted Valuation$99.12m
$RAIL Volume 24h$140,915
CEX Volume$57,386
DEX Volume$89,344(63.4% of total)
Staked$68.86m(69.47% of mcap)
Treasury$5.79m
Majors$1.45m
Stablecoins$1.04m
Own Tokens$3.18m
Others$119,749
Total Raised$7m
Jul 26, 2021$7mRound: Private token saleInvestors: DCG
Protocol Information
RAILGUN secures privacy for DEX trading and lending. Built without any bridge or layer-2, RAILGUN is a smart contract system that gives zk-SNARK privacy to any transaction or smart contract interaction on Ethereum.
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: All deductions paid by users using Railgun privacy smart contracts.View code on GitHubRevenue: All deductions paid by users using Railgun privacy smart contracts are collected by Railgun treasury contracts.View code on GitHubHolders Revenue: 4.2% (was 2% before July 29, 2026) of the treasury is distributed to the claiming mechanism every 2 weeks.View code on GitHubTreasury: Value of tokens owned by the protocolRailgun history
TVL is the default DefiLlama definition, which excludes Staking. Daily values are UTC snapshots from Jan 28, 2022 to Nov 15, 2026.
All-time high TVL: $137.85m on Aug 14, 2025. All-time low TVL: $10,199 on Jul 13, 2022.
Daily TVL, Oct 17, 2026 to Nov 15, 2026
| Date | TVL |
|---|---|
| Oct 17, 2026 | $112.44m |
| Oct 18, 2026 | $112.02m |
| Oct 19, 2026 | $113.43m |
| Oct 20, 2026 | $112.79m |
| Oct 21, 2026 | $115.13m |
| Oct 22, 2026 | $115.38m |
| Oct 23, 2026 | $112.19m |
| Oct 24, 2026 | $111.23m |
| Oct 25, 2026 | $110.25m |
| Oct 26, 2026 | $111.38m |
| Oct 27, 2026 | $111.7m |
| Oct 28, 2026 | $112.82m |
| Oct 29, 2026 | $112.31m |
| Oct 30, 2026 | $108m |
| Oct 31, 2026 | $109.72m |
| Nov 1, 2026 | $109.7m |
| Nov 2, 2026 | $109.79m |
| Nov 3, 2026 | $108.58m |
| Nov 4, 2026 | $109.53m |
| Nov 5, 2026 | $113.43m |
| Nov 6, 2026 | $107.77m |
| Nov 7, 2026 | $107.2m |
| Nov 8, 2026 | $107.79m |
| Nov 9, 2026 | $105.74m |
| Nov 10, 2026 | $107.17m |
| Nov 11, 2026 | $107.8m |
| Nov 12, 2026 | $110.74m |
| Nov 13, 2026 | $108.69m |
| Nov 14, 2026 | $108.12m |
| Nov 15, 2026 | $103.72m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $92.43m |
| Jan 31, 2025 | $89.22m |
| Feb 28, 2025 | $67.58m |
| Mar 31, 2025 | $65.39m |
| Apr 30, 2025 | $52.86m |
| May 31, 2025 | $62.13m |
| Jun 30, 2025 | $60.41m |
| Jul 31, 2025 | $97.18m |
| Aug 31, 2025 | $128.41m |
| Sep 30, 2025 | $106.71m |
| Oct 31, 2025 | $104.31m |
| Nov 30, 2025 | $95.16m |
| Dec 31, 2025 | $97.41m |
| Jan 31, 2026 | $93.88m |
| Feb 28, 2026 | $81.29m |
| Mar 31, 2026 | $93.25m |
| Apr 30, 2026 | $94.39m |
| May 31, 2026 | $88.29m |
| Jun 30, 2026 | $78.01m |
| Jul 31, 2026 | $79.66m |
| Aug 31, 2026 | $92.04m |
| Sep 30, 2026 | $117.29m |
| Oct 31, 2026 | $109.72m |
| Nov 15, 2026 (latest) | $103.72m |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $3.06m |
| Dec 31, 2023 | $13.82m |
| Dec 31, 2024 | $92.43m |
| Dec 31, 2025 | $97.41m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $498,562 | $498,562 | $0 |
| Jan 2025 | $459,921 | $459,921 | $140,711 |
| Feb 2025 | $605,078 | $605,078 | $84,712 |
| Mar 2025 | $346,104 | $346,104 | $72,870 |
| Apr 2025 | $342,286 | $342,286 | $68,885 |
| May 2025 | $413,828 | $413,828 | $91,332 |
| Jun 2025 | $277,773 | $277,773 | $109,025 |
| Jul 2025 | $283,577 | $283,577 | $202,843 |
| Aug 2025 | $566,207 | $566,207 | $193,897 |
| Sep 2025 | $462,223 | $462,223 | $182,787 |
| Oct 2025 | $523,056 | $523,056 | $182,799 |
| Nov 2025 | $371,127 | $371,127 | $146,170 |
| Dec 2025 | $366,474 | $366,474 | $138,029 |
| Jan 2026 | $353,021 | $353,021 | $199,426 |
| Feb 2026 | $330,534 | $330,534 | $76,461 |
| Mar 2026 | $319,162 | $319,162 | $84,215 |
| Apr 2026 | $381,658 | $381,658 | $94,260 |
| May 2026 | $330,524 | $330,524 | $96,265 |
| Jun 2026 | $293,761 | $293,761 | $82,282 |
| Jul 2026 | $329,416 | $329,416 | $175,906 |
| Aug 2026 | $304,713 | $304,713 | $201,931 |
| Sep 2026 | $385,507 | $385,507 | $225,402 |
| Oct 2026 | $344,654 | $344,654 | $211,563 |
| Nov 2026 (to date) | $189,940 | $189,940 | $98,727 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/railgun
Frequently asked questions
What is Railgun's TVL?
As of Nov 15, 2026, Railgun has $103.38m in total value locked. TVL has decreased 8.9% over the past 30 days.
What chains does Railgun operate on?
Railgun operates on 4 chains: Ethereum, Arbitrum, BSC, and Polygon. Ethereum holds the largest share at 96%.
How much has Railgun generated in fees and revenue?
Over the past 30 days, Railgun generated $352,088 in fees. Of that, $352,088 was protocol revenue. Based on the trailing year, the annualized rate is $4.06m in fees and $4.06m in revenue.
What is the RAIL token price and valuation?
RAIL is currently trading at $1.68. Its circulating market capitalization is $100.3m, ranking it #363. Its fully diluted valuation is $100.3m. Supply currently stands at 60m circulating, 60m total supply, 100m maximum supply.
How has RAIL performed recently?
RAIL is down 24.1% over the past 7 days and down 36% over the past 30 days. Its all-time high is $5.66, reached on Nov 7, 2025. The token is currently 70.4% below that level.
How does Railgun's TVL compare to similar protocols?
Among Privacy protocols tracked by DefiLlama, Railgun ranks #2 by TVL. The category holds $834.14m across 55 protocols, and Railgun accounts for 12.4% of that total. Similar protocols include Tornado Cash, Hinkal, zERC20, Privacy Pools V2, Nullmask, Vortexo, Privacy Pools V1, Privacy Cash, Payy, and Zama.
Does Railgun have a treasury?
Railgun has a tracked treasury currently valued at $5.79m. Its holdings include $1.04m in stablecoins, $1.45m in major assets, $3.18m in its own tokens, $119,749 in other assets.