Ask about SIR
Logo of SIRSIR
Total Value Locked$90,773.9

TVL by Chain

Ethereum$41,071.54

MegaETH$32,231.25

Hyperliquid L1$17,471.11

Protocol Information

SIR is a decentralized trading protocol designed for leveraged positions with a focus on long-term investing. Key features include a one-time fee for opening positions (no recurring funding costs), no liquidations, and no volatility decay (returns aren't eroded by market fluctuations). By eliminating these traditional risks and costs, SIR offers a sustainable way to maintain leveraged exposure over extended periods, making it ideal for investors seeking leveraged assets without the stress of daily fees, margin calls, or compounding price instability.

Category:Derivatives

Audits:

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Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHub

Yields

Pools Tracked2

Average Supply APY16.06%

Hacks

Date: Mar 30, 2025

Amount: $355,000

Classification: Protocol Logic

Technique: Transient storage collision

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Competitors

Derive V2 ($117.23m)Hyperliquid HLP ($215.13m)GMX V2 Perps ($175.49m)Extended Perps ($125.25m)dYdX V3 ($37.86m)Apex Omni ($29m)Aevo Perps ($14.66m)Gains Network ($11.06m)Contango V2 ($6.16m)Hakka Finance ($4.19m)

Frequently Asked Questions

What is SIR?

SIR is a decentralized trading protocol designed for leveraged positions with a focus on long-term investing. Key features include a one-time fee for opening positions (no recurring funding costs), no liquidations, and no volatility decay (returns aren't eroded by market fluctuations). By eliminating these traditional risks and costs, SIR offers a sustainable way to maintain leveraged exposure over extended periods, making it ideal for investors seeking leveraged assets without the stress of daily fees, margin calls, or compounding price instability.

What is SIR's TVL?

SIR currently has $90,773.9 in total value locked. TVL has decreased 4.8% over the past 30 days.

What chains does SIR operate on?

SIR operates on 3 chains: Hyperliquid L1, Ethereum, and MegaETH. Ethereum holds the largest share at 45.2%.

How does SIR's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, SIR ranks #95 by TVL. The category holds $1.885b across 370 protocols, and SIR accounts for <0.1% of that total. Other leading protocols include Jupiter, Hyperliquid, and GMX.

How many yield pools does SIR have?

DefiLlama tracks 2 SIR yield pools with an average APY of 16.1%.

Has SIR ever been exploited?

SIR has 1 recorded security incident. The most recent incident occurred on Mar 30, 2025 and involved $355,000. It was classified as Protocol Logic.