InformationTVLFees and RevenuePerp Volume

Merkle Trade (MKL)

Total Value Locked$5.28m

TVL by Chain

Aptos$5.28m

Key Metrics

Fees (Annualized)$1.36m

Fees 30d$111,794

Fees 7d$31,682

Fees 24h$2,306

Cumulative Fees$1.99m

Revenue (Annualized)$1.36m

Revenue 30d$111,794

Revenue 7d$31,682

Revenue 24h$2,306

Cumulative Revenue$978,581

Perp Volume 30d$683.79m

Perp Volume 7d$182.95m

Perp Volume 24h$11.52m

Cumulative Perp Volume$24.667b

Market Cap$2.49m

$MKL Price$0.081

All Time High$0.47

All Time Low$0.066

Fully Diluted Valuation$8.12m

$MKL Volume 24h$1,945

CEX Volume-

DEX Volume$1,945(100% of total)

Total Raised$2.1m

Apr 1, 2024$2.1mRound: SeedInvestors: Hashed, Arrington Capital, Morningstar Ventures, Aptos Labs, Amber Group, Re7 Captial, Dorahacks, HashedSource: https://x.com/Merkle_Trade/status/1774732097120588261

Protocol Information

Merkle Trade is a Perp DEX that offers high leverage on a variety of pairs such as Crypto, Forex, and Commodity.

Category:Derivatives

Audits:

WebsiteTwitter

Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Fees paid by usersView code on GitHubRevenue: Treasury and token holders revenueView code on GitHubPerp Volume: Notional volume of all trades in the protocol, includes leverageView code on GitHub

Competitors

Mirage Protocol ($956,369)TsunamiX ($330,631)Thetis Perps ($236,599)AGDEX ($2,609)

Income Statement for Merkle Trade

Q3 2025*Q2 2025Q1 2025Q4 2024
Fees$103,534$1.06m$826,620$0
Revenue$103,534$513,645$361,402$0
Earnings$103,534$513,645$361,402$0