cryptonist

DeFi protocols

fx Protocol

Data as of 3 October 2026 · Official site

fx Protocol is a protocol DefiLlama files under Dual-Token Stablecoin, deployed on 1 chain. On 3 October 2026 it held $133.7M in total value locked, up 13.7% over 30 days, placing it 189th of 225 protocols in this set. DefiLlama recorded $632K in fees over the previous 30 days. TVL is deposits at current prices, not revenue and not users. The note below says what it leaves out.

Total value locked, over time

Total value locked, USD: $932K at the start of the series, $133.7M at the end. $0 $100.0M $200.0M $300.0M $400.0M $500.0M Aug 23May 24Mar 25Dec 25Oct 26
Total value locked, USD. Weekly points for the last two years, monthly before. Source: DefiLlama, retrieved 3 October 2026.

Among protocols

Total value locked by protocol, 225 tracked: top 24, and fx Protocol at 189. Source: DefiLlama, 3 October 2026.
#ProtocolTotal value locked
1 Lido $26.4B
2 Aave V3 $18.1B
3 SSV Network $14.0B
4 LayerZero V2 $11.7B
5 Morpho Blue $11.3B
6 Binance staked ETH $10.0B
7 WBTC $9.9B
8 Coinbase Bridge $8.4B
9 Hyperliquid Bridge $7.1B
10 EigenCloud $7.0B
11 Sky Lending $5.9B
12 Binance Bitcoin $5.8B
13 SparkLend $5.5B
14 ether.fi Stake $5.2B
15 Ethena USDe $4.9B
16 JustLend V1 $3.9B
17 Arbitrum Bridge $3.7B
18 Babylon Protocol $3.4B
19 USDT0 $3.4B
20 JustLend sTRX $3.3B
21 Base Bridge $3.2B
22 Maple $3.0B
23 Polygon Bridge $2.9B
24 JustCryptos $2.8B
189 fx Protocol $133.7M

See all 225 protocols

TVL by chain

TVL by chain, fx Protocol, 3 October 2026. Source: DefiLlama.
ChainUSD
Ethereum $133.7M

Fees recorded by DefiLlama

Fees recorded by DefiLlama, fx Protocol, 3 October 2026. Source: DefiLlama.
WindowUSD
24 hours $730
30 days $632K
1 year $5.2M

About fx Protocol

Category: Dual-Token Stablecoin. Deployed on 1 chain. Listed by DefiLlama on 2023-08-04.

f(x) Protocol is a decentralized on-chain trading platform that enables stress-free leverage on ETH and WBTC while delivering the highest organic & sustainable yield on stablecoins. By utilizing an innovative mechanism, we offer up to 7X long or short exposure with minimum liquidation risk & funding costs. To fuel the leverage positions, the protocol mints fxUSD, a scalable & decentralized stablecoin with a strong peg to the dollar and backed by wstETH and WBTC. (DefiLlama's listing text.)

  • DeFi

    Where crypto yield comes from

    Staking, lending, liquidity provision, airdrops and points each pay for something different. Who pays, for what, and what can go wrong with each of them.

Source: DefiLlama, retrieved 3 October 2026, under its open methodology. Figures are a dated snapshot, not a live feed.