Kodiak
KDKKodiak is Berachain's native liquidity platform integrating DEX and automated liquidity management
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.02% | 0.59% | 4.23% | 17.16% | 23.73% | 31.21% |
Revenue & Burn
Protocol income
$842.93Buyback funds
$503.07Burn funds
--Buyback ratio
59.7%Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $842.93 | $503.07 | -- | 59.7% |
| Oct 2026 | $13.18K | $7.84K | -- | 59.5% |
| Sep 2026 | $15.09K | $8.46K | -- | 56.1% |
| Aug 2026 | $12.72K | $7.32K | -- | 57.6% |
| Jul 2026 | $13.81K | $7.62K | -- | 55.2% |
| Jun 2026 | $34.16K | $18.88K | -- | 55.3% |
Comparison
Tokenomics
Unlock Progress
Data source: CoinMarketCap
KDK is used for Kodiak exchange governance, liquidity incentives, and staking, serving as a DEX token on Berachain to participate in ecosystem incentive distribution.
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About Kodiak
Kodiak is Berachain's native liquidity platform, tying trading, market making and incentives into one stack: the Kodiak DEX pairs concentrated liquidity with a full-range AMM, Islands are vaults that rebalance concentrated ranges automatically, Baults are ERC-4626 auto-compounding vaults, Panda Factory allows no-code token deployment, and there are an aggregator called kX, perpetuals with up to 100x leverage, and a validator business.
The design couples with Berachain's Proof of Liquidity: validators earn block rewards in proportion to the liquidity they attract, and Kodiak routes BGT emissions to its own vaults through Sweetened Islands, then standardises LP positions into tokens that compose across protocols, cutting the rebalancing and compounding work that concentrated positions normally demand. On that base it holds more than 90% of Berachain's spot and perpetual DEX share, with about 41 million dollars in TVL on its site. The underlying chain has been under pressure: according to CoinMarketCap, Berachain's network-wide TVL fell from a peak near 3.35 billion dollars to roughly 26.2 million dollars by August 2026, with DEX volume down 48.5% over 30 days.
Milestones: Berachain's 'PoL Next' upgrade went live on July 8, the biggest change to Proof of Liquidity since mainnet: the old BGT reward flow was scrapped, Kodiak's reward vaults now pay claims in WBERA, and stBGT is being sunset with its vault incentives ending.
Fundamentals: Kodiak V3 holds about $34.4 million in TVL and ranks among the top 50 perp DEXs; by late September KDK traded near $0.09 with a market cap around $1.45 million, close to its listing lows.
Kodiak kept expanding in 2026, reaching roughly $170M TVL and about $17.9M daily volume as the volume leader of the Berachain ecosystem. Its perpetuals product Kodiak Perp surpassed $5B in cumulative volume, supports up to 100x leverage on major tokens, and posts stable monthly volume above $180M, placing it among the global Top 50 perp DEXs.
In 2026 Kodiak shipped Kodiak VIP for xKDK stakers, Limit Orders and TWAP, kX and Kodiak Baults, plus Boyco Rewards and BGT Reward Vaults; its Valentine's trading competition recorded $210M in volume with $50K in rewards.
Future strategy and roadmap: Looking ahead Kodiak will keep building toward being Berachain's native liquidity hub, deepening its product stack across Perps, spot and liquidity management (Islands, Panda Factory) and BGT reward vaults, and leveraging PoL incentives to grow high-frequency on-chain trading and yield scenarios within the ecosystem.
BeraRodman — Co-founder; comes from a technical background, began with DEX arbitrage bots, previously founded and exited a gaming startup and worked on the investment team of a crypto VC.
Kodiak DEX charges a uniform 0.3% on V2 pools, while V3 pools use fee tiers of 0.05%, 0.3%, 1% or 2% set by liquidity providers, with trades spanning tiers paying each tier cumulatively.
Kodiak splits V3 fees 65% to LPs and 35% to the protocol, V2 fees 83.33% to LPs and 16.67% to the protocol, and adds 0.17% on advanced orders to incentivise Orbs Network.