Defx has launched tokenized vaults on Ethereum mainnet, fundamentally changing how liquidity provision works in the Perps DEX landscape. For the first time, you can deposit non-stable assets like POL,BTC, ETH alongside stablecoins like USDC, USDT and earn yield from professional market-making strategies without giving up self custody or transparency.

When you deposit into Defx vaults, you receive a composable yield-bearing token (dlpUSDC, dlpPOL) that represents your proportional share of the vault’s NAV. This token automatically appreciates as the vault captures yield from three sources: trading fees, funding payments, and protocol activity.

Unlike traditional LP models in Perp DEXs where you’re betting against traders or taking directional risk, these vaults run delta-neutral market-making strategies. Your capital provides liquidity to Defx’s order books while the vault handles hedging, execution, and risk management across multiple venues through integrated adaptors. The result is sustainable yield generation without the volatility of taking sides in the market.

This is a one-of-a-kind offering in the perp DEX landscape. Most protocols only accept stablecoins as assets and expose you to directional risk from traders. Defx lets you put POL, ETH, BTC, or USDC to work earning real delta neutral yield from actual trading activity, all wrapped in a composable token that can be used across DeFi.

To celebrate this launch and reward the first wave of liquidity providers to our vaults, we’re introducing the Defx Early LP Program.

Program Details

To launch this new vault layer and reward foundational liquidity providers, we’re introducing the Defx Early LP Program, a 30-day campaign with 2x points, locked multipliers, and exclusive recognition for early depositors.

Eligible Vaults:

• USDC Liquidity Provider Vault

• USDT Liquidity Provider Vault

• POL Liquidity Provider Vault

• BTC Liquidity Provider Vault (wBTC)

• ETH Liquidity Provider Vault (wETH)

Benefits for Early LPs:

2x Boosted Points
All deposits made during the campaign period earn 2x Defx points. Your LP position earns yield while your points stack faster. The earlier you deposit the more points you accumulate.

Early LP Discord Role
Get exclusive access to a shiny Early LP role in our Discord community. This role marks you as a foundational liquidity provider and gives you visibility and perks in future discussions.

Locked Multiplier
Maintain your vault position for 90+ days and keep the 2x points multiplier permanently, even after the campaign ends. Early LPs who stay committed earn at 2x indefinitely.

Hard Cap: $5,000,000
The first $5M in combined deposits across all vaults (USDC, USDT, POL, ETH, BTC) receives the exclusive benefits package.Early depositors lock in their benefits for the entire duration of the campaign.

How It Works

1. Connect your wallet to app.defx.com/earn

2. Choose your vault

3. Deposit your tokens

4. Receive your yield-bearing token (YBTs) representing your share in the vault

5. Earn 2x points automatically while your position accrues yield

Your vault token represents your proportional share of the strategy’s NAV. As the vault generates returns from market-making activity, your token appreciates in value. You can track performance in real-time on the Earn page and redeem your position through the asynchronous withdrawal queue when you’re ready to exit.

Why Deposit Now?

The Early LP Program rewards the liquidity providers who help establish depth in the new vault system. Early participants receive:

• Higher point multipliers that compound over time

• Recognition as foundational LPs

• Priority positioning for future vault features and products

The window closes fast. Only the first $5M in total deposits within 30 days qualify for the 2x multiplier and exclusive perks.

Start Earning

Deposit into the USDC or POL vaults and claim your Early LP benefits:
app.defx.com/earn

Questions? Join the discussion in Discord or read the full vault documentation at https://docs.defx.com/docs/earn/vaults

Defx is announcing the launch of a $10,000 trade to earn competition in collaboration with Voltrade. Voltrade hosts onchain trading competitions for spot pairs, DEXs, and perpetual platforms. Over the next 4 weeks, traders can compete for $10,000 in rewards, earn VXP (Voltrade points), and receive a 2X points boost on Defx.

Joining is simple. Traders register through the official referral link on the Voltrade competition page and trade any perpetual pair on Defx. Rewards are tied directly to trading activity. Every $1 in volume generates 0.1 VXP. This creates a dual earning setup where traders earn real cash rewards, VXP, and 2X Defx Points throughout the event.

How the competition works

1. Register on the Voltrade competition page through the Defx referral link.

2. Trade any perp pair on Defx through Voltrade.

3. Every $1 traded gives 0.1 VXP.

4. Daily cap is 50,000 VXP per user equal to $500,000 in daily volume.

5. Leaderboard updates have a short delay of 1 to 2 hours. All trades are recorded.

All Perpetual pairs on Defx are eligible.

Rewards

The total prize pool is $10,000 in USDC plus VXP.
Traders who cross 1,000 VXP and finish within the top 60 percent qualify for a share of the pool. Rewards follow a proportional model based on your points relative to the total eligible points.

The event also includes a daily lottery.
Any user who earns 100 VXP in a day is automatically entered into a $50 draw. The total lottery allocation for the campaign is $1,400.

All rewards, including the lottery, will be sent within 7 days after the competition ends.

Extra boost for Voltrade users

Traders participating through Voltrade receive 2X Defx Points for the full duration of the campaign. This bonus applies only when using the official link on the Voltrade competition page.

How to join

1. Visit the official competition page:
   https://voltrade.xyz/trading_competition/defx-trading-competition

2. Click Trade on Defx

3. Connect your wallet

4. Start trading any perp market

All trades routed from Voltrade automatically count toward VXP and leaderboard scoring.

Start trading and secure your share

The competition is live and the leaderboard is already moving. Register, start building VXP, and position yourself for a share of the rewards.
Join here:
https://voltrade.xyz/trading_competition/defx-trading-competition

Defx is expanding its presence across Asia with the launch of the Regional Ambassador Program, starting with Indonesia and South Korea.

The program officially starts on 11 November and brings together local leaders who will help grow Defx’s footprint, support trader education, and guide regional market strategy. This initiative follows our recent IDRX on-ramp integration in Indonesia and forms the foundation for our broader localization push across key trading markets.

Our goal is to establish a regional foundation for Defx by connecting local traders and communities to our on-chain trading infrastructure through localized access, education, and partnerships.

Program Overview

Each Regional Ambassador will serve as an on-ground operator for Defx, helping strengthen awareness, partnerships, and user engagement in their respective markets. The role combines strategic input with execution across content, KOL collaboration, and community activation.

What Ambassadors Will Do

• Promote Defx within local trading and DeFi communities.

• Design and execute regional KOL and influencer strategies.

• Translate and localize major campaigns such as Points, Affiliate, and Trade to earn.

• Advise the Defx team on regional partnerships, market insights, and narrative positioning.

• Host AMAs, Spaces, and educational sessions to onboard new users.

Incentives

Each selected ambassador will receive:

• A fixed monthly stipend paid in USDC

• Affiliate tier upgrade

• 2× Defx Points boost

• Official Defx X Badge

High-performing ambassadors will be eligible for program renewal and potential long-term collaboration in future regional initiatives.

Selection & Timeline

• Applications are open now. Interested applicants can submit their details through the form linked below.

• 7th November: Application deadline and final review by the Defx team.

• 11 November: Program kickoff and onboarding for selected ambassadors..

Who We’re Looking For

We’re looking for active contributors who can help us expand Defx’s regional presence:

• Involved in crypto, DeFi, or trading communities

• Experience in content, marketing, or business development

• Strong understanding of on-chain trading and derivatives

• Established local network across Twitter, Telegram, or KOL groups

• Available 4–6 hours per week for content and coordination

Apply Now

If you’re based in Indonesia or Korea and want to help build Defx’s regional foundation, apply to join the program.

Applications close: 7th November
Program starts: 11 November

Apply here → https://defxroles.deform.cc/ambassador

Introduction

Defx continues its mission to make on-chain trading accessible to users around the world. After launching IDR on-ramps through IDRX for Indonesia, we’re now unlocking direct USD access for global users through a new partnership with Noah.

This integration allows users to move funds straight from their bank accounts into crypto quickly, securely, and without conversion fees.

The Vision: From Bank to On-Chain in One Step

Funding your on-chain wallet has always involved friction. Whether through third-party on-ramp aggregators or multi-step transfers, most traders face delays and unnecessary costs when trying to get their funds on-chain.

Defx and Noah change that by introducing a direct USD on-ramp that connects your bank to your Defx wallet in one seamless step.

With this integration, users can deposit USD directly via ACH or Wire transfer and receive USDC 1:1 without any intermediaries hidden fees, and delays.

How It Works

1. Complete KYC Verification

Start by completing a one-time KYC verification through Noah directly on the Defx interface. The process is quick and secure, ensuring compliance while keeping the user experience simple.

Once verified, you’ll be issued a personal virtual USD bank account directly within your Defx wallet

2. Access Your Virtual Bank Account

After KYC approval, your virtual USD account will appear in the Wallet → Fiat → USD section.

You’ll see your personalized account details, including:

• Account holder name (your name)

• Account number

• Routing code

• Bank name and address

This account is unique to you and accepts both ACH and Wire transfers

3. Deposit USD

Send USD from your regular bank account from anywhere in the world to the provided virtual account.

Funds are automatically processed through Noah’s payment network and converted into USDC 1:1, with absolutely no conversion or transfer fees.

4. Receive USDC in Your Defx Wallet

Once processed, your funds appear as USDC within 24 hours (depending on banking hours).

You can immediately use your USDC to:

• Trade perpetual futures on Defx.

• Deposit into DLE vaults and earn yield.

Why It Matters

This integration is a major step toward bridging traditional finance and DeFi.

• Direct Access: Connect your bank account straight to your Defx wallet.

• Zero Fees: Every dollar becomes one USDC with no conversion costs.

• Speed and Simplicity: Fund your wallet in under 24 hours through standard banking rails.

• Compliance Ready: Noah handles KYC and transaction security at the infrastructure level.

Expanding Global Access

The Defx x Noah partnership marks another milestone in building Defx’s global fiat-to-crypto network.

After integrating IDR through IDRX for Indonesia, USD is the next step in expanding fiat accessibility to on-chain traders worldwide.

Defx is building the financial infrastructure for a world where users can fund their wallets, trade, and earn yield directly from their bank accounts — all on a decentralized, trading-first Layer 1.

The new USD on-ramp powered by Noah brings Defx one step closer to making on-chain markets as accessible as traditional finance.

With instant KYC, 1:1 conversion, and direct wallet settlement, users can now move from their bank to DeFi without intermediaries or friction.

Start your verification and fund your wallet today at https://app.defx.com/user/wallet

At Defx, our mission has always been to build the most trader-focused Layer 1 infrastructure for perpetual futures. Speed, execution, liquidity, and transparency are critical, but they are only part of the story.

The real unlock for on-chain adoption also lie in ease of access which is generally through efficient on-ramps. If users cannot move their local currency into crypto efficiently, the broader DeFi ecosystem remains out of reach.

This is why we are proud to announce our partnership with IDRX, a stablecoin pegged 1:1 to the Indonesian Rupiah. This integration allows Indonesian users to seamlessly deposit and withdraw IDR, convert into on-chain assets, and begin trading or earning yield on Defx.

Growing the Pie Through On-Ramps

In the on-chain space, most DEXs are fighting over the same set of active users. These are typically a mix of farmers and a smaller pool of genuine on-chain traders. The pie remains limited while the majority of trading activity still happens on centralized exchanges.

If DeFi is to scale beyond this small base, the next step must be to grow the pie. That growth cannot come from chasing the same users with more incentives. It comes from solving the access problem.

On-ramps are the key. Without efficient ways to move from local currency into on-chain markets, most potential users will never make the jump.

Every DEX in the market today talks about building a “CEX-like” experience. Typically, this means faster order books, more pairs, and deeper liquidity. While these are important, they overlook the most fundamental barrier: access.

Without efficient on-ramps, users remain stuck in centralized exchanges or face high fees through third-party fiat aggregators. For DeFi to scale, we must make onboarding as simple as:

1. Sign up

2. Deposit local currency

3. Start trading

This partnership with IDRX takes a major step toward that vision.

What is IDRX?

IDRX is a stablecoin backed 1:1 with the Indonesian Rupiah. It offers:

• Price Stability: Each IDRX is always equal to 1 IDR.

• Zero Conversion Fees: IDR deposits convert into IDRX without hidden charges.

• Accessibility: Available through Indonesian banks, e-wallets, and QRIS.

• Security: Multi-signature controls and on-chain verification to ensure reliability.

By integrating IDRX into Defx, we are opening on-chain markets to one of the world’s most active crypto user bases.

How to On-Ramp IDR on Defx

• Getting started with IDR on Defx is simple and fully integrated inside the app. Here is the step-by-step process:

  1. Go to Wallet → Fiat tab

     • Select IDR as your currency

       

  2. Complete Quick KYC

     • Fill in your name, email, and address.

     • Enter your 16-digit NIK.

     • Upload your KTP identity document (PNG, JPG, PDF).

     • Verification is handled securely by our partner IDRX

       

       .

  3. Deposit IDR

     • Once verified, deposit Rupiah directly from your bank or e-wallet (OVO, GoPay, QRIS).

     • There are no conversion fees.

  4. Receive IDRX Instantly

     • Every Rupiah converts 1:1 into IDRX with zero hidden costs.

  5. Convert to USDC on Base

     • Use the Buy-Sell page under the Trade menu to swap IDRX into USDC on Base

       

  6. Start Trading or Earning

     • Trade perpetuals with USDC collateral.

     • Or deposit into DLE vaults to earn yield from our vaults.
       

  This flow allows Indonesian users to move seamlessly from local fiat into on-chain markets. The process is fast, low-cost, and built directly into the Defx user experience.

The Bigger Picture: Growing the Pie

This launch is about more than just fiat access. It reflects our belief that on-ramps are one of the core foundations for DeFi adoption.

By solving fiat entry at the protocol level, Defx is:

• Lowering the barriers for retail traders to participate in DeFi.

• Creating efficient rails that bypass expensive fiat aggregators.

• Expanding the size of the on-chain user base, not just competing for existing liquidity.

Indonesia is the starting point, but this framework is built to scale across global markets.

What’s Next

The IDRX integration is the first step in a broader plan to simplify on-chain access:

• Stablecoin Orchestration: Efficient swaps across multiple fiat stables to find the best liquidity path.

• Buy-Sell Flows: A unified interface for fiat-to-token conversion across supported chains.

• Global Expansion: Adding more regional stablecoins beyond Indonesia to build a truly global on-ramp network.

Our goal is to make Defx the most accessible and comprehensive trading platform in DeFi.

Indonesia, welcome to Defx. ❤️

We’re excited to share that Defx now supports direct deposits and trading from the Polygon network. This integration removes friction for millions of Polygon users and opens a seamless path into Defx’s trading environment.

What it means for Polygon users

If you hold USDC or USDT on Polygon, you can now deposit those assets straight into Defx without paying gas fees. There’s no need for third-party bridges, no manual chain swaps, and no need to top up native gas tokens. Your Polygon balances now connect directly with Defx.

Supported assets

• USDC (Polygon)

• USDT (Polygon)

Starting today, all USDC and USDT transfers on the Defx wallet are completely free when sent through the Polygon network. The wallet can send and receive both without any gas costs.

As Polygon’s ecosystem expands to support new stablecoins from across the world, Defx will extend free transfers to them as well. Many non-dollar stablecoins will also be gas sponsored and supported natively, starting with IDRX.

How it works

1. Connect your wallet and head to app.defx.com/user/wallet.

2. Click on Defx Bridge and select USDC or USDT as the collateral asset with Polygon as the network.
   

   
   

3. The transaction is fully gas sponsored. Once the deposit is complete, your balance is live on Defx and ready to trade.

Benefits for traders

• No gas costs: Every transfer is covered.

• No external bridges: Move funds straight from Polygon into Defx.

• Native support: USDC and USDT on Polygon now work directly.

This update is part of our ongoing effort to reduce friction for traders and support a multi-chain user base.

Why Polygon matters to Defx

Polygon is a natural strategic partner for Defx. The network is aligned with Ethereum and has been critical in scaling its ecosystem. From being the first L2 to gain traction, to bringing global consumer brands onchain, Polygon has consistently grown the pie for the entire industry.

Looking ahead, Polygon is focused on becoming the leading chain for FX and payments. Defx will be a strong partner in making that vision a reality by powering seamless stablecoin flows and perps trading.

It is also worth noting that Sandeep Nailwal, co-founder of Polygon, is on Defx’s cap table, a strong vote of confidence and a reflection of the alignment between Polygon and Defx.

What’s next

This is just the start of our Polygon integration. We’re already working on:

• On-ramps for Polygon users: So you can fund your Defx account directly from Polygon.

• Native swaps: To move between supported assets without leaving the platform.

• Support for POL: Trading and yield opportunities are on the roadmap.

• Support for non-dollar stablecoins: Many will be gas sponsored and supported natively, starting with IDRX.

The bigger picture

With Polygon integration, Defx is becoming a truly multi-chain venue for perpetual trading. We are meeting traders where they are, cutting out unnecessary steps, and making sure every deposit, trade, and withdrawal feels seamless.

Polygon is one of the most active ecosystems in crypto. Bringing it into Defx expands access, liquidity, and opportunity for traders everywhere.

1.Overview

The Defx Liquidity Engine (DLE) is the foundational market-making system powering liquidity on the Defx perp DEX. Structured as a vault, DLE allows users to deposit capital into a fully on-chain pool that the protocol uses to provide liquidity across all perpetual markets. Unlike traditional AMMs or peer-to-pool models where users passively sit on one side of risk, DLE runs delta-neutral, liquidity provisioning strategies that aim to generate real, sustainable yield without exposing depositors to directional losses. The DLE is a core infrastructure layer for Defx, designed for performance, transparency, and long-term capital efficiency.

2.Vault Strategy

When users deposit into the DLE vault, their assets are used to run actively managed LPing strategies on the Defx orderbook. These strategies are fully neutral, aiming to balance long and short exposure in real-time to avoid market directionality risk. This allows DLE to act as a liquidity layer for traders while offering depositors consistent yield not tied to price speculation. Unlike other onchain perp vaults that suffer from trader PnL drain or LP-side losses, DLE does not bet against traders. This protects depositors from directional losses and avoids the common pitfall of vaults getting drained by profitable traders.

3.Yield Sources

The DLE generates yield from three primary sources:

• Funding Fees: Traders on Defx pay or receive funding based on the perp market's open interest skew. The DLE captures the positive funding side when providing liquidity across both sides of the book.

• Trading Fees :The DLE earns a 50% share of fees when its liquidity is matched on the Defx CLOB.

• Liquidation Profits :In cases where traders become undercollateralized, the engine participates in liquidations. Profits from these executions accrue back to the vault. All yield is automatically distributed to depositors, proportional to their share of the vault.

4. Transparency Module

To build trust and align with the ethos of onchain finance, a full transparency module is under development. This will allow users to:

• View active vault positions and orders

• Track historical trades and funding rate exposure

• Monitor live APY metrics

• Understand how each component contributes to total yield

• Give complete visibility of the assets held across all contracts

The goal is to give depositors full visibility into how their funds are being deployed and how the yield is being earned, with no need to parse raw onchain data.

5. Deposit and Withdrawal Mechanics

• Deposit Process Users can deposit USDC into the vault directly on Defx. Funds start accruing yield once accepted into the active pool.

• Cool-Off Period All withdrawals are subject to a 3-day cool-off period, ensuring liquidity stability for open positions and hedges.

• Redemptions After the cool-off period, users can withdraw their principal plus any accumulated yield based on their vault share.

A future upgrade will introduce continuous deposits and withdrawals via liquid staking tokens.

6. Risk Management

The DLE is designed for capital protection, not speculation.

• Delta-neutral strategy eliminates directional price risk

• All strategies are managed onchain with protocol-enforced limits

• Yield is diversified across sources to avoid reliance on a single revenue stream

DLE does not chase high APY through risky behavior. It is built to be sustainable, composable, and predictable.

7. LST Architecture (Upcoming)

The next evolution of DLE introduces Liquid Staking Tokens (LSTs). This system will issue yield-bearing tokens like dstETH, dUSDC, or dSOL on supported chains. These tokens represent your position in the DLE vault and accrue rewards continuously.Key features:

• Native LST issuance on Ethereum, Solana, and others

• Mint and redeem at any time

• Composability with other DeFi protocols

• Live APY tracking and proof-of-performance

This transforms vault positions into transferable assets, opening new doors for composable DeFi integrations and layered yield strategies.

8. Roadmap and Future Features

• Full Transparency Dashboard: Go live with position tracking and yield attribution

• Cross-chain Vault Deployments: Expand vault access to other chains via unified mint/redeem

• Public Vault Audits: Formal audits to be completed for maximum trust

• LST Collateral in Perp Trading: Use dTokens directly as margin collateral

The DLE is the liquidity engine behind the Defx perp layer and will continue evolving to support more chains, more tokens, and more advanced liquidity flows.

DEPOSIT HERE- https://app.defx.com/liquidity-pools

Defx is thrilled to announce the launch of "The Syndicate" - our exclusive trade-to-earn competition designed to reward active traders on our platform. With a substantial prize pool of 50,000 USDC distributed over 60 days, this competition offers traders at all levels the opportunity to earn rewards simply by doing what they do best: trading.

The Syndicate program represents our commitment to building a vibrant, active trading community while rewarding those who contribute to our ecosystem's liquidity and growth.

The Syndicate Program: Overview

The Syndicate is Defx's trade-to-earn competition that rewards active traders based on their trading volume. The program uses a straightforward approach: participants earn rewards proportional to their contribution to the platform's taker volume.

Participants compete for a share of the 50,000 USDC prize pool while trading on Defx's infrastructure, which features sub-millisecond execution, multi-chain settlement, and yield-generating vaults. The competition runs for 60 days with rewards distributed based on each trader's percentage of the total taker volume. How The Competition Works

Competition Period

The Syndicate competition will run for 60 days starting on 18 June, 11:00 AM UTC and ends 17 August 2025, 11:00 AM UTC.
Giving traders ample time to accumulate volume, stack points and climb the ranks.

Taker Volume Only

Importantly, only taker order volume counts toward your competition metrics. Let's clarify what this means:

• Taker orders are those that immediately match with existing orders in the order book, effectively "taking" liquidity from the market. These include market orders and limit orders that immediately match with existing orders.

• Maker orders are limit orders that don't immediately match and instead sit in the order book, providing or "making" liquidity for others. These orders will not count toward your competition volume.

This focus on taker volume ensures a fair competition that rewards active trading rather than passive order placement.

Eligibility

All Defx users are eligible to participate.

Reward Structure

The competition features a total prize pool of 50,000 USDC, allocated based on participants' taker trading volume during the 60-day period. DEFX implements a tiered reward structure that increases the available prize pool as collective trading volume reaches predetermined thresholds:

• 0-75 million in total taker volume: 10,000 USDC prize pool

• 75-125 million in total taker volume: 20,000 USDC prize pool

• 125-150 million in total taker volume: 30,000 USDC prize pool

• 150-175 million in total taker volume: 40,000 USDC prize pool

• 175+ million in total taker volume: 50,000 USDC prize pool

This means that as our community trades more collectively, the reward pool grows for everyone. Rewards are distributed pro rata based on each participant's contribution to the total taker trading volume.

Reward Distribution

Rewards will be calculated based on your percentage contribution to the total taker trading volume. For example, if you contribute 5% of the total taker trading volume and the community reaches the 120-150 million tier (30,000 USDC prize pool), you would receive approximately 1,500 USDC in rewards.

All rewards will be distributed within 14 days after the competition ends, directly to the wallet address used for trading on Defx.

Contest page and leaderboard- app.defx.com/contests

Defx Points: A Progression System for Traders and LPs

Defx Points are live, and they’re more than just numbers on a screen or a typical points program. This is a long-term, performance-driven system that tracks your contribution to the Defx ecosystem and rewards you accordingly. Whether you’re trading, providing liquidity, or referring new users, every action you take builds your reputation and unlocks new benefits over time.

Earn As You Contribute

Defx Points runs on a simple principle — if you contribute to the ecosystem, you earn points. These points aren’t arbitrary. They reflect your cumulative participation and determine your standing in the system.

You can earn points in three ways:

• Trading on Defx

• Providing passive liquidity to the Liquidity pools

• Referring users who start trading or deposit capital

Points are distributed weekly, with each user receiving a share based on their relative activity during the period. This ensures rewards scale with effort and engagement.

Role-Based Progression

As you earn more points, you move up the Defx Rewards Ladder. Each level unlocks new access, benefits, and community perks. From early community roles and educational tools to signal channels, fee discounts, premium tooling, and exclusive event access, the structure is designed to grow with you.

The deeper your involvement, the more you unlock. Every milestone reflects tangible commitment to the protocol, and with that comes more utility.

What Comes Next

This is just the beginning. Defx Points will eventually serve as the basis for a much larger rewards program. Your standing will matter, and those who consistently engage will be best positioned to capture what’s coming. While the full scope of future rewards will be revealed later, what’s clear now is this, your points have long-term value.

Start Climbing

You don’t need to do anything extra. Just trade, refer, or provide liquidity like you normally would. The system does the rest. You’ll be able to track your weekly earnings, total points, and current rank directly in the Defx dashboard.

This isn’t a one-off campaign. It’s a reputation engine built into the heart of the protocol.

Happy stacking 😉

Defx is self-custodial major crypto and memecoin perpetual contract trading exchange on Defx L1, with audited bridges from Arbit…

app.defx.com

We’re excited to announce that Defx has raised $2.5 million in seed funding to launch a new Layer 1 blockchain purpose-built for trading, enabling a dark pool DEX for perpetual futures with encrypted order flow and verifiable onchain execution.

The round includes participation from Pantera Capital, CMT Digital, Gumi Cryptos, CoinShares, Robot Ventures, Cadenza Ventures, Baboon VC, and angel investors Sandeep Nailwal (Polygon) and Mahin Gupta (Liminal).

The funding will support the development and expansion of Defx’s Layer 1 blockchain for real-time, on-chain trading infrastructure of perpetual contracts across cryptocurrencies, commodities, currencies, indices, and more.

A New Paradigm for Onchain Trading

In traditional DeFi, every trade is fully transparent. Order sizes, leverage levels, liquidation thresholds, and position direction are all visible onchain, creating front-running risk, copy trading, and strategic exposure that deters serious traders.

Defx introduces a new model. Using a custom zero-knowledge-based trading engine, all trade intents—including size, leverage, direction, and liquidation thresholds—are encrypted. The protocol ensures:

• Encrypted trade inputs (order size, leverage, direction)

• Hidden PnL and liquidation points

• No public exposure of active positions

• Verifiable fairness of execution, funding, and liquidations onchain

While trading activity remains private, the system maintains full onchain integrity. Every transaction, fill, and state change is provable without revealing sensitive trader data.

Purpose-Built Chain Architecture

Defx is a sovereign Layer 1 built specifically for perpetual futures. It features:

• Sub-millisecond matching via a native central limit order book (CLOB)

• Direct onboarding of assets from Ethereum, Solana, Arbitrum, Base, Berachain, and more—no bridges or wrapped tokens

• Unified margin engine with multi-collateral, cross-margin accounts

• Liquidity infrastructure composed of vaults, LPs, and market makers

• Native support for both EVM and Solana contracts

This vertical integration enables high performance, secure custody, and composable onchain markets across asset classes.

Why Build a L1?

• Scalability and Throughput: This allows us to put our orderbook fully on-chain and ensure it scales to the levels of the largest CeFi companies in terms of operations per second and latency.

• Customizability: Customized and novel fee models tied to trading activity can be native, permissionless, and on-chain. Additionally, customers choose which assets they pay fees in.

• Prioritization: With a custom L1, the DAO will have control to ensure upgrades, chain optimizations, and UX improvements can be built into the infrastructure layer.

• Dark Pool Primitives: Privacy-preserving bids and asks are built into the chain so that large positions are not broadcasted until executed.

• Consensus Layer and Virtual Machine Stack: These can be chosen based on application needs, while ensuring that the best dApps can effortlessly migrate to Defx.

Vault-Based Liquidity and Passive Yield

Defx introduces vault-based liquidity infrastructure that allows any user to provide capital and earn protocol fees and rewards. Users can stake BTC, ETH, stablecoins, or LSTs to earn passive yield through:

• Trading fees

• Protocol revenue share

• Points and ecosystem incentives

This system is designed to balance deep liquidity for active traders with yield-generating opportunities for passive participants.

Broad Asset and Collateral Support

Defx will support a wide range of underlying markets including:

• Cryptocurrencies

• Foreign exchange (FX)

• Commodities

• Traditional financial indices

• Interest rate perps and other synthetic products

Trades can be funded using multiple forms of collateral, including stablecoins, crypto assets, and yield-bearing tokens—without losing exposure to the original asset.

Founding Team

Defx Labs was founded by Darshan Bathija, Sanju Sony Kurian, and Soumyadeep Das, the team behind Vauld, previously Asia’s largest crypto lending platform with nearly 1 million users.

Having navigated the collapse of centralized custodial platforms in 2022, the team brings a deep understanding of risk management and the need for sovereign, self-custodied infrastructure. Those lessons now inform the architecture and values behind Defx.

Roadmap

The capital raised will support protocol development, network security, liquidity expansion, and onboarding of key trading and LP communities.

Defx is entering its next phase with a focused rollout plan that includes:

• Incentivised trading and points programs

• Competitive trading events and reward campaigns

• Additional vault integrations

• Spot markets

• Embedded self-custody wallets

• Native fiat on/off ramps

• Expansion of governance and permissionless listings

Defx brings dark pool mechanics onchain, privacy-first DEX with high performance trading, real yield through vaults, and no counterparty risk.

About Defx

Defx is a purpose-built Layer 1 blockchain designed for trading perpetual futures across crypto, FX, commodities, and synthetic markets. By combining a high-performance CLOB engine with zero-knowledge proofs and a vault-based liquidity system, Defx offers private, composable, and verifiably fair onchain trading. The protocol enables encrypted order flow, multi-collateral margining, and native cross-chain onboarding without bridges or wrapped assets.

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