Defx Early LP program is now live
Earn 2x boosted points and exclusive rewards as a foundational liquidity provider
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
Connect your wallet to app.defx.com/earn
Choose your vault
Deposit your tokens
Receive your yield-bearing token (YBTs) representing your share in the vault
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