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.

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.

Avitus is a DeFi derivatives protocol based on MoveVM that allows users to achieve sustainable LSD returns and aims to unlock the original DeFi utility of on-chain assets.

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.

ApeX is a decentralized derivatives protocol that uses elastic automated market makers (eAMMs) to create perpetual swap markets for token pairs.

MYX Finance is the Chain-Abstracted Perpetual DEX built for the democratizing alpha on-chain. MYX Finance lets anyone trade perpetual contracts on any token—from blue-chip assets to the newest meme coin—with deep liquidity, 1 bp fees, and a seamless UX—all without surrendering keys or jumping chains.

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.

Bluefin (formerly Firefly, dTrade) is a decentralized perpetual contract agreement that supports users to trade perpetual contracts anytime, anywhere with a leverage ratio of up to 20 times. Its sub-product AlphaLend is a decentralized, non-custodial lending protocol based on SUI blockchain.

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.

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

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.

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

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.

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. The protocol also issued a stablecoin sUSD. 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.

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

APX Finance is a decentralized derivatives exchange offering both order book and on-chain perpetuals. Users can elevate trading with up to 1001x leverage, zero slippage and competitive fees.

Zeuz is a non-custodial decentralized exchange on Reya Network that provides perpetual contract trading, smart contract settlement and gas-free trading across margin accounts.

Jasper Vault is a peer-to-peer interoperable options protocol.

PRDT Finance is a decentralized prediction platform that provides a secure, user-friendly cross-chain environment for binary options trading. PRDT Finance features a more innovative and attractive reward system, such as the thrill of winning big, an interactive coin flip game, the chance to get treasure chests containing various rewards, and other features.

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

Nemo Protocol is the native yield-trading platform on Sui Network where users can Long yield or hedge yield exposure.

GRVT(Gravity) is an institutional-grade, trustless trading infrastructure for crypto. Built by technology and financial markets professionals, Gravity helps create a platform where institutional traders can enjoy a fully private, regulated (KYC & AML) and self-custodial trading venue.

BSX is building a decentralized limit order book for users to go long and short with leverage. BSX to combines the best of CeFi trading experiences (e.g. cross-collateralization, powerful cross-margining, improved front-end, limit orders) with the best of DeFi (such as self-custody directly on Base).

Dolomite is a next-generation margin trading and lending protocol.

Drake is an onchain orderbook perp DEX with diverse collateral options, gas-free trading, deep liquidity, and meticulous risk control.

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

D3X is a multichain decentralized exchange for spot and derivatives trading, powered by AI. It provides an all-in-one solution with AI-driven insights, offering market signals and advanced trading tools to enhance decision-making and strategy development across spot and Perp DEX trading.

Perennial is a decentralized derivatives protocol that offers a straightforward trading experience, a flexible and capital-efficient model for providing liquidity, and a primitive for developers to create DeFi derivatives easily. Perennial acts as a peer-to-pool derivatives AMM that perpetually offers to take the other side of any Taker's position at the oracle price, in exchange for a funding rate that fluctuates based on the utilization of the liquidity pool (similar to Compound and Aave).

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.