Infinex is a new crypto application launched by Synthetix, providing access to a variety of on-chain protocols, services and applications. It is unmanaged and uses a new security architecture centered on on-chain smart accounts and keys. Infinex was previously a decentralized perpetual protocol.
Infinex
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DeFi、DEX、Lending、Derivatives
| | Crypto app designed for humans |
1,040
|
699
|
Hyperliquid is a performant L1 optimized from the ground up. The vision is a fully onchain open financial system with user built applications interfacing with performant native components, all without compromising end user experience. The Hyperliquid L1 is performant enough to operate an entire ecosystem of permissionless financial applications – every order, cancel, trade, and liquidation happens transparently on-chain with block latency <1 second. The flagship native application is a fully onchain order book perpetuals exchange, the Hyperliquid DEX.
Hyperliquid
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DeFi、Infra、Layer1、Derivatives
| -- | Performant L1 |
1,514
|
205
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Flying Tulip is building an onchain financial marketplace that unifies spot trading, derivatives, credit, a native stablecoin (ftUSD), and onchain insurance within a single cross‑margin system designed for capital efficiency and transparent risk management.
Flying Tulip
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DeFi、DEX、Lending、Derivatives、Options、Perp
| | Intelligent trading protocol |
1,318
|
188
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ETHGas is a marketplace to source and trade blockspace commitments, alongside the Base Fee itself. It operates as a hybrid exchange - a centralized venue, where the central limit orderbook (CLOB) matches buyers with sellers, alongside a non-custodial smart contract where the collateral is held to backstop validator commitments.
ETHGAS
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DeFi、Derivatives
| | Infrastructure layer for programmable gas |
787
|
184
|
Nado is the orderbook DEX where raw power collides with surgical precision to unleash breathtaking performance for traders. Trade spot and perpetuals via unified margin, where kinetic collateral dynamically flows across positions — netting risks in real-time for superior capital efficiency.
Nado
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DeFi、DEX、Derivatives、Perp
| | Orderbook DEX on INK |
474
|
156
|
Lighter is a perpetual trading protocol that introduces a scalable, secure, transparent, non-custodial, and verifiable order book trading infrastructure within the Ethereum ecosystem. As an application-specific zk-rollup, it employs advanced cryptographic techniques and data structures. Lighter significantly improves the security and fairness of order book trading with its verifiable matching engine, ensuring scalable and efficient market price discovery. Thus, Lighter lays the groundwork for creating new, high-performance, and secure digital trading platforms.
Lighter
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DeFi、Derivatives、Perp
| | Perpetual trading protocol |
1,210
|
155
|
Avantis is an oracle-based synthetic derivatives protocol where users can trade crypto and real world assets with up to 100x leverage, and earn yield as a market-maker by providing USDC liquidity.
Avantis
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DeFi、Derivatives、Perp
| | Synthetic derivatives protocol |
788
|
129
|
trade.xyz is a perpetual platform that can be used to trade any commodity, including stocks.
trade.xyz
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DeFi、Derivatives、Perp
| | Perpetual platform |
562
|
126
|
Paradex is a crypto-derivatives exchange launching on Starknet’s first Appchain. Paradex will offer perpetual futures trading with deep liquidity, capital efficiency and performance while remaining transparent and self-custodial. Paradex was incubated by the team at Paradigm, the largest institutional liquidity network in crypto.
Paradex
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DeFi、Derivatives、Appchain
| | Cryptocurrency derivatives exchange |
460
|
116
|
Pendle is a yield trading protocol that allows users to tokenize and trade future yields by leveraging top yield-generating protocols such as Aave, Compound, and Wonderland. Similar to stripped bonds in traditional finance, Pendle splits yield-bearing assets into tokenized ownership (zero-coupon bonds) and yield components (coupons), enabling innovative yield trading opportunities.
Pendle
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DeFi、Derivatives、Yield Tokenization、LSD
| | Yield trading protocol |
1,112
|
116
|
Rain is a decentralized prediction and options protocol on Arbitrum. At the core is $RAIN - a token designed with a deflationary engine that burns 2.5% of every trade volume, reducing supply as usage grows.
Rain
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DeFi、Derivatives、Options
| | Decentralized prediction and options protocol |
654
|
110
|
StandX is a perpetual DEX that enables users to trade with yield-earning margins. DUSD is StandX's first product - a yield-bearing stablecoin.
StandX
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DeFi、Derivatives、Perp、Stablecoin Protocol
| | Perpetual DEX |
866
|
106
|
MYX Finance is the Chain-Abstracted Perpetual DEX built for the democratizing alpha on-chain. MYX Finance lets anyone trade perpetual contracts on any token—from blue-chip assets to the newest meme coin—with deep liquidity, 1 bp fees, and a seamless UX—all without surrendering keys or jumping chains.
MYX Finance
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DeFi、Derivatives、Perp
| | Decentralized derivative exchange |
514
|
105
|
RateX Protocol is a decentralized exchange (DEX) built on Solana. RateX offers leveraged yield trading, similar to perpetual futures contracts, allowing users to gain exposure to underlying assets with a much larger position size compared to their deposited margin. To fully unlock the potential of yield trading, RateX offers three tightly integrated features: Leveraged Yield Trading, Earn, and Synthetic Assets.
RateX
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DeFi、Derivatives、Perp
| | Leveraged Synthetic Yield exchange |
468
|
101
|
ApeX is a multi-chain decentralized trading protocol based on zero-knowledge proof. It provides contracts and spot transactions under the self-custody of user assets. Its product lines include crypto-perpetual contracts, leveraged event prediction contracts, vault treasury, usdt one-click trading of multi-chain assets and US stock spot.
ApeX
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DeFi、Derivatives、Perp
| | Multi-chain decentralized transaction protocol |
326
|
101
|
Jupiter is a Solana-based DEX aggregator that aggregates liquidity for traders looking for the best possible prices with minimal slippage. Though Jupiter was initially conceived as a swap engine, the protocol has evolved significantly to include a number of different products for different kinds of users such as: Dollar-Cost Averaging (DCA), limit orders, perpetual trading, and, most recently, a launchpad.
Jupiter
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DeFi、DEX、Derivatives、DEX Aggregator、Perp、Launchpad
| | DEX Aggregator |
1,520
|
95
|
GRVT(Gravity) is an institutional-grade, trustless trading infrastructure for crypto. Built by technology and financial markets professionals, Gravity helps create a platform where institutional traders can enjoy a fully private, regulated (KYC & AML) and self-custodial trading venue.
GRVT
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DeFi、Derivatives
| | Institutional grade trading infrastructure for crypto |
724
|
95
|
Tradoor is an NDMM exchange using smart math and safety measures to allow people to trade with confidence and protecting traders, LPs, and the protocol from unexpected market changes.
Tradoor
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DeFi、Derivatives、Perp
| | NDMM exchange |
293
|
93
|
01 is a decentralized derivatives protocol running on the Solana blockchain. 01 offers powerful deep liquidity perpetual futures markets, giving traders up to 20x their buying power. 01 is built with Serum's fully decentralized on-chain limit orderbook.
01 Exchange
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DeFi、Derivatives
| | Decentralized derivatives protocol |
394
|
93
|
edgeX is a high-performance, orderbook-based Perp Dex with native trading experience.
edgeX
|
DeFi、Derivatives、Perp
| -- | Orderbook-based Perp Dex |
454
|
92
|
100xSOON is an AI-native prediction PERP trading platform based on the x402, offering leverage up to 10,000x and supporting US tokenized stocks. The project is incubated by SOON.
100XSOON
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DeFi、Derivatives、Perp、AI
| | x402 AI-native Prediction Perp Trading Platform |
|
91
|
Variational is a crypto derivatives trading protocol based on Arbitrum. Its applications include Omni, a perpetual futures trading platform that allows traders to take leveraged long or short positions on any time series, with a special focus on newly launched tokens, baskets, yield/volatility perpetual contracts, and other new products. OLP is Omni's liquidity provider, which brings together liquidity from centralized and decentralized exchanges and over-the-counter trading platforms. The second application of Variational is Pro, a platform for institutional traders.
Variational
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DeFi、Derivatives、Perp
| | Crypto derivatives trading protocol |
424
|
91
|
RollX is a decentralized perpetual contract trading platform built on the Base chain, offering features such as on-chain perpetual contracts, prediction markets, and BTC liquid staking tokens.
RollX
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DeFi、Derivatives、Perp
| | Decentralized perpetual contract trading platform |
426
|
89
|
Ostium is a synthetic asset protocol that enables institutional and retail traders and hedgers to gain exposure to commodities on-chain.
Ostium
|
DeFi、Derivatives、Synthetic Assets
| | Bring commodity markets on-chain |
580
|
88
|
Synthetix is a decentralized platform for synthetic assets that provides on-chain exposure to real-world currencies, commodities, stocks, and indices. These synthetic assets (Synths) are backed by Synthetix Network Tokens (SNX) locked into a smart contract as collateral. The protocol also issued a stablecoin sUSD. Synths track the prices of various assets, allowing crypto-native and unbanked users to trade peer-to-contract (P2C) on Synthetix Exchange without liquidity restrictions.
Synthetix
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DeFi、Derivatives、Synthetic Assets
| | Decentralized synthetic asset platform |
851
|
88
|
dYdX is a decentralized exchange that provides users with key financial instruments, such as perpetuals, margin trading, spot trading, lending, and borrowing. It equips traders with off-chain order books and on-chain settlement, allowing them to short-sell tokens, increase exposure by leveraging long positions, and earn interest on deposited tokens for faster transactions.
dYdX
|
DeFi、Derivatives、Appchain、Perp
| | Decentralized Exchange |
1,096
|
88
|
Bulk Trade is a decentralized exchange focused on building a high-performance on-chain perpetual contract trading platform, aiming to bridge the gap between centralized exchanges (CEX) and decentralized finance (DeFi) in high-frequency order book trading performance.
BULK
|
DeFi、DEX、Derivatives
| | On-chain CLOB |
507
|
84
|
Pacifica is building the next generation decentralized perpetual trading platform.
Pacifica
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DeFi、Derivatives、Perp
| | Decentralized perpetual trading platform |
819
|
84
|
Decibel is a fully on-chain trading engine that unifies spot, perps, margin, vaults, and composable DeFi ecosystem integrations that bring yield opportunities into one programmable platform—delivering CEX-class performance without surrendering custody or transparency.
Decibel
|
DeFi、DEX、Derivatives、Perp
| | Composable, onchain trading engine |
337
|
78
|
Honeypot Finance is whipping up a community-run DeFi Hub that have a honey-flavored flywheel model that churns out dual incentives.
Honeypot Finance
|
DeFi、DEX、Derivatives、Perp
| | DeFi Hub on Berachain |
384
|
78
|