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.

3Jane is a crypto-native derivatives protocol leveraging restaking and cash-and-carry to unlock a novel derivatives yield source. 3Jane enables the collateralization of shared security of any Proof-of-Stake system in financial derivatives contracts, allowing users to generate real ETH / BTC yield on EigenLayer and Babylon.

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.

Harmonix Finance is where TradFi meets DeFi: automated vaults, smart strategies, and max gains with min risk. Harmonix Finance is building efficient hedge fund on-chain derivatives pools using hedge fund strategies (like options wheel & delta neutral) where users deposit fund and receive high yield & multiple tokens airdrop.

Vest is a quantitative research firm developing financial infrastructure that enables real-time, universal risk pricing. As a neutral and verifiable intermediary, Vest will enable participants to share risk data without exposing proprietary information, leading to greater capital efficiency, improved liquidity provisioning, fairer pricing, and more accurate risk assessments across lending, trading, and credit markets. As a first proof of concept, Vest is launching a perpetual futures exchange to demonstrate how universal risk assessment enables a fair, predictable, and liquid trading environment.

Injective is an interoperable layer-1 blockchain that powers the next generation of financial applications. Injective uniquely provides plug-and-play financial infrastructure primitives such as high-performance on-chain decentralized trading infrastructure, decentralized bridges, oracles, and multiple composable smart contract layers such as CosmWasm and EVM.

flyingtulip is an intelligent trading protocol that adapts to market conditions, giving users better execution, higher returns, and integrated DeFi in one platform. Users can access spot, leverage, and perpetual trading from a single liquidity pool without moving funds across different protocols.

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.

KiloEx is a user-friendly decentralized exchange focused on risk management and capital efficiency.

Drift Protocol is a Solana on-chain asset trading center, offer Perps, Prediction Market and so on services.

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.

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. 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.

DeriW is a zero-fee decentralized perpetual contract exchange, and its innovative Rollup architecture combines Ethereum's security with high-speed layer 3 technology to redefine transactions. Managed by CoinW’s team, DeriW reaches 80,000 transactions per second (TPS), ensuring a seamless experience similar to a centralized platform, while combining the transparency and reliability of a decentralized system.

Taker Protocol is a yield scaling layer built on the NPOL consensus mechanism. It provides liquidity and yields to the Bitcoin ecosystem through robust incentive structures, offering features such as EVM compatibility and strong demand for Taker tokens. Any Bitcoin derivatives can be traded via the Taker protocol, generating attractive on-chain yield and protocol revenue, which are directly distributed to protocol users. Taker will be the yield scaling and dAPP layers for all BTC and its derivatives.

SynFutures is a decentralized derivatives exchange that enables anyone to list and trade futures and perps on any asset. Positioned as the Amazon of derivatives by creating an open and trustless derivatives market, SynFutures introduces permissionless asset listings and offers the widest diversity of pairs for trading.

Ethereal is a decentralized spot and perpetual DEX based on Ethena. Ethereal aims to fully utilize the power of USDe within a high performance onchain finance environment to provide users with a one-stop-shop for all their core DeFi needs in a single vertically integrated application.

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.

GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero-price impact trades. Trading is supported by a unique multi-asset pool that earns fees from market making, swap fees, and leverage trading for liquidity providers.

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.

ApeX is a decentralized derivatives protocol that uses elastic automated market makers (eAMMs) to create perpetual swap markets for token pairs.

Dolomite is a next-generation margin trading and lending protocol.

Plaza Finance is a cross-ecosystem hub for programmable derivatives, focused on delivering better financial products for everyone.

Pye is Solana's Yield Swap Protocol.

D3X is a multichain decentralized exchange for spot and derivatives trading, powered by AI. It provides an all-in-one solution with AI-driven insights, offering market signals and advanced trading tools to enhance decision-making and strategy development across spot and Perp DEX trading.

Bluefin(ex Firefly, dTrade) is a decentralized perpetuals protocol that allows users to trade perpetuals from anywhere with up to 20x leverage.

Aevo is a high-performance decentralized derivatives exchange platform, focused on options and perpetual contracts. The exchange runs on a custom EVM roll-up that rolls up to Ethereum. Aevo operates an off-chain orderbook with on-chain settlements. This means that once orders are matched, trades get executed and settled with smart contracts.

Demether is a DeFi protocol that unifies liquidity, enabling blockchain to attract and retain liquidity at zero cost. It is on a mission to onboard the next billion into passive yields via a suite of yield-bearing tokens. The first product to be launched by Demether will be a liquid restaking token, $demETH. The synthetic liquid restaking token $demETH is the building block on which the initial suite of DeFi opportunities will be based.

MYX is a MPM model decentralized derivative exchange, which uses intelligent rates and exposure hedging mechanisms to ensure protocol stability and provide sustainable high returns.

Bean Exchange is a Hybrid Orderbook-oracle Perp DEX natively built on Monad, powered by Pyth Network that aims to integrate the SocialFi and Gamification elements into the world of trading.

EVEDEX is a Perpetual DEX & Next-Gen Web3 financial ecosystem built on its own L3 blockchain.