InformationTVLPerp Volume

Defx

Total Value Locked$232,018

TVL by Chain

Arbitrum$232,018

Key Metrics

Perp Volume 30d$97.49m

Perp Volume 24h$4.22m

Cumulative Perp Volume$386.87m

Total Raised$2.5m

Jun 13, 2025$2.5mRound: SeedInvestors: Pantera Capital, CMT Digital, gumi Cryptos Capital, Baboon VC, CoinShares, Robot Ventures, Cadenza Ventures, Sandeep Nailwal

Protocol Information

Defx is a DEX and L1. It’s perpetual futures offers up to 25x leverage in the regular markets, and up to 1000x in Degen mode. The L1 is built on tendermint’s consensus and is EVM compatible. Defx delivers a CEX-like experience without any usability trade offs.

Category:Derivatives

Audits:

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Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubPerp Volume: Notional volume of all trades in the protocol, includes leverageView code on GitHub

Competitors

GMX V2 Perps ($411.17m)Lighter V2 ($167.77m)Synthetix V3 ($78.45m)Derive V2 ($72.85m)Ostium ($63.95m)Vertex Perps ($58.34m)GMX V1 ($56.96m)MYX Finance ($45.4m)Contango V2 ($37.11m)Aevo Perps ($35.75m)