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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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

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.

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

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

Arcadia is a decentralized and composable margin protocol that allows users to lend, borrow, and trade assets permisionlessly. Borrowers can access up to 10x more capital than their initial collateral and use both their deposited collateral assets and the borrowed assets to permisionlessly interact with any other protocol, all while retaining full ownership of their assets.

Felix is a synthetic dollar protocol on Hyperliquid L1 that allows users to deposit collateral and borrow feUSD to earn income using Felix vaults.

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

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.

Aries Market is a decentralized margin trading protocol on Aptos. Users can lend, borrow, and trade with margin through a fully on-chain order book.

Marginfi is a decentralized portfolio margining protocol for trading on Solana. It provides traders with a unified account to access margin, construct a portfolio, and increase capital efficiency across different trading protocols.

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.

Mitosis is the liquidity protocol for the modular era that redefines cross-chain liquidity. Mitosis makes cross-chain LPing more attractive by making it liquid. Mitosis LPs receive derivative tokens that are 1:1 convertible to their locked assets. LPs can use these derivative tokens to participate in various DeFi applications on the supported Ethereum L1 chain and L2 rollups, essentially enabling LPs to let their cross-chain assets work for additional yield on top of the default fee sharing.

Cap is a decentralized Perpetual Exchange.

Aegis is a stablecoin platform backed by Bitcoin. Its YUSD is completely independent of the fiat banking system and is designed to protect savings from fiat hyperinflation. Aegis effectively profits from funding fees by performing funding rate arbitrage through delta-neutral trading in the spot and perpetual contract markets. Aegis will also provide an easy-to-use platform through a partnership with Riverside Hedge to enable people to access DeFi and achieve instant liquidity of funds.

Filament is an oracle-based Perpetual DEX, designed to help traders and liquidity providers extract the most out of perpetual trading. Filament's liquidity pools are intelligently designed to accommodate low liquidity assets.

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.

Valhalla is a fully on-chain perpetuals exchange on MegaETH.