Total Value Locked$1.07m
TVL by Chain
Ethereum$1.07m
Key Metrics
DEX Volume 30d$2.13m
DEX Volume 30d by chain
Ethereum$2.13m
DEX Volume 7d$1.97m
Ethereum$1.97m
DEX Volume 24h$7,164
Ethereum$7,164
Cumulative DEX Volume$210.19m
Ethereum$210.19m
Protocol Information
USDN token is a synthetic U.S. dollar backed by a structured product utilizing a delta-Neutral strategy
Part of SMARDEX Ecosystem
SMARDEX USDN history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from May 1, 2025 to Nov 14, 2026.
All-time high TVL: $8.63m on Oct 27, 2025. All-time low TVL: $1.01m on Jul 1, 2026.
Daily TVL, Oct 16, 2026 to Nov 14, 2026
| Date | TVL |
|---|---|
| Oct 16, 2026 | $1.38m |
| Oct 17, 2026 | $1.37m |
| Oct 18, 2026 | $1.36m |
| Oct 19, 2026 | $1.36m |
| Oct 20, 2026 | $1.35m |
| Oct 21, 2026 | $1.38m |
| Oct 22, 2026 | $1.4m |
| Oct 23, 2026 | $1.35m |
| Oct 24, 2026 | $1.34m |
| Oct 25, 2026 | $1.33m |
| Oct 26, 2026 | $1.31m |
| Oct 27, 2026 | $1.31m |
| Oct 28, 2026 | $1.33m |
| Oct 29, 2026 | $1.33m |
| Oct 30, 2026 | $1.26m |
| Oct 31, 2026 | $1.28m |
| Nov 1, 2026 | $1.29m |
| Nov 2, 2026 | $1.31m |
| Nov 3, 2026 | $1.29m |
| Nov 4, 2026 | $1.3m |
| Nov 5, 2026 | $1.39m |
| Nov 6, 2026 | $1.29m |
| Nov 7, 2026 | $1.29m |
| Nov 8, 2026 | $1.28m |
| Nov 9, 2026 | $1.23m |
| Nov 10, 2026 | $1.23m |
| Nov 11, 2026 | $1.2m |
| Nov 12, 2026 | $1.21m |
| Nov 13, 2026 | $1.17m |
| Nov 14, 2026 | $1.14m |
TVL at each month end, May 2025 to Nov 2026
| Date | TVL |
|---|---|
| May 31, 2025 | $5.5m |
| Jun 30, 2025 | $6.44m |
| Jul 31, 2025 | $7.5m |
| Aug 31, 2025 | $7.22m |
| Sep 30, 2025 | $7.17m |
| Oct 31, 2025 | $7.94m |
| Nov 30, 2025 | $4.15m |
| Dec 31, 2025 | $3.08m |
| Jan 31, 2026 | $2.63m |
| Feb 28, 2026 | $2.29m |
| Mar 31, 2026 | $2.06m |
| Apr 30, 2026 | $2.21m |
| May 31, 2026 | $1.6m |
| Jun 30, 2026 | $1.01m |
| Jul 31, 2026 | $1.19m |
| Aug 31, 2026 | $1.5m |
| Sep 30, 2026 | $1.55m |
| Oct 31, 2026 | $1.28m |
| Nov 14, 2026 (latest) | $1.14m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/smardex-usdn
Frequently asked questions
What is SMARDEX USDN's TVL?
As of Nov 14, 2026, SMARDEX USDN has $1.07m in total value locked. TVL has decreased 21.1% over the past 30 days.
What chains does SMARDEX USDN operate on?
SMARDEX USDN operates on Ethereum. Ethereum holds the largest share at 100%.
How does SMARDEX USDN's TVL compare to similar protocols?
Among Basis Trading protocols tracked by DefiLlama, SMARDEX USDN ranks #27 by TVL. The category holds $7.674b across 42 protocols, and SMARDEX USDN accounts for <0.1% of that total. Similar protocols include Ethena USDe, Falcon Finance, BitFi Basis, Solv Basis Trading, Tori Finance, Axis, ZEROBASE CeDeFi, Aegis YUSD, Drakewell USDdw, and Piku Finance.
How much trading volume does SMARDEX USDN process?
SMARDEX USDN processed $2.13m in DEX volume over the past 30 days.