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.

QFEX is an hybrid perpetual exchange to allow high leverage, performant trading on traditional financial assets. Markets on QFEX operate 24/7 like crypto venues, with external market makers, allowing users to trade outside of market hours.

edgeX is a high-performance, orderbook-based Perp Dex with native trading experience.

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.

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.

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.

trade.xyz is a perpetual platform that can be used to trade any commodity, including stocks.

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.

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.

TruFin is a defi protocol built to provide institutional grade access to on-chain derivatives markets. Each of vaults executes an automated options strategy on behalf of its users - the breadth of the strategies will grow as TruFin do. The option vaults are accessible only with permission with all new users needing to complete KYC & AML onboarding via one of TruFin partners before placing funds into a vault.

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.

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.

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.

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.

Nest is a flagship staking protocol for RWAs deployed exclusively on Plume. By decoupling yield streams from the assets themselves, Nest enables the creation of new financial instruments, giving users the ability to earn, trade, and manage yield independently of the underlying asset.

Ostium is a synthetic asset protocol that enables institutional and retail traders and hedgers to gain exposure to commodities on-chain.

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.

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.

PerpsAI focuses on perpetual contract trading analytics and social features, enabling users to track trades, share outcomes, and learn from successful strategies. It aims to be a comprehensive hub for perp traders.

Ventuals is an unlisted company equity derivatives platform that allows users to use USDC to go long or short on the pre-IPO valuation of unlisted startups.

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.

fullstack is a margin trading protocol based on Hyperliquid.

StandX is a perpetual DEX that enables users to trade with yield-earning margins. DUSD is StandX's first product - a yield-bearing stablecoin.

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.

Nunchi is an yield derivatives trading platform that turns income itself into a tradable asset. With Nunchi, users can go long or short yield (e.g., staked yield on stETH or interest rates on a bond index) as easily as they can trade any token. Moreover, users can operate with leverage anytime, anywhere.

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.

Gearbox is a composable leverage protocol that improves capital efficiency within DeFi. It introduces a novel DeFi primitive called Credit Accounts, which are isolated smart contracts with predefined, whitelisted parameters such as liquidation thresholds and approved tokens. Credit Accounts contain both user funds and borrowed margin funds, and they can be deployed on any DeFi protocol. They are non-custodial, so users never give up ownership of their assets. All operations go through the Credit Accounts, giving users an easy way to move across the DeFi ecosystem and leverage-interact with any protocol they choose.

Pacifica is building the next generation decentralized perpetual trading platform.

Ranger is an aggregated, multi-asset trading platform designed for traders on Solana.

Rails, a self-custodial crypto exchange that leverages a centralized order book to drive optimal trade execution, combined with a self-hosted decentralized solution on the blockchain to provide transparent custody of funds, thereby protecting user funds and gaining user trust.