Extended

A perpetuals exchange. Trading turnover and collateral are measured separately when comparing its activity.

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Snapshot checked 2026-09-22 · Source: DefiLlama ↗ · combined protocol profile

Volume · 24h$338.03M

Volume · 7d$1.80B

Volume · 30d$7.40B

Open interest$99.84M

TVL$120.35M

Fees · 30d$1.70M

Revenue · 30d—

Holders revenue · 30d—

Token price—

Market cap—

FDV—

FAIR VALUE

Valuation under review

Verified inputs for value capture, token supply and future unlocks are incomplete. A numerical range is not published yet.

How valuation works →

WEEKLY CHANGES

Baseline snapshot

Timestamped TVL history is available below. The weekly page compares compatible observations; volume-rank changes are not yet calculated.

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AUTOMATED OBSERVATION / SEPARATE SCOPE

TVL · $120.29M

Fresh · Observed 2026-09-22T09:09:23Z

2026-06-25 → 2026-09-22 · Range $119.21M–$140.75M · Chart scale starts at the series minimum, not zero.

DefiLlama top-level protocol TVL; component methodology not supplied · Source ↗. This series may differ from combined-profile baseline TVL above.

RESEARCH DESK · 2026-09-22

What matters here

Track retained trading activity and collateral growth independently of any potential token launch.

Team

The official team page describes the CEO as Revolut’s former Head of Crypto Operations and the CTO as having built multiple exchanges, including at Revolut. These are project-supplied biographies.

Primary source ↗

Investors

A primary-source funding table is not yet verified in this edition.

Not verified in this edition

Unlocks

No verified protocol-token launch or unlock calendar is included. XVS vault receipts should not be confused with a protocol governance token.

Primary source ↗

Utility

The product combines an offchain order book with Starknet validation and settlement. Its published architecture is more informative than an undifferentiated “DEX” label.

Primary source ↗

Buyback

No verified protocol-token buyback or holder distribution is included.

Not verified in this edition

Listings

The official exchange is linked above; a separate tradable protocol token has not been verified.

Not verified in this edition

What to compare next

Compare volume quality, fee economics, dilution and actual value reaching token holders. Affiliate payouts never affect rankings.

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