DeFi Companies

Elixir Network is a DeFi protocol focused on providing institutional-grade liquidity infrastructure for real-world assets (RWAs) on-chain. Its core product, deUSD, is a synthetic dollar designed to bring liquidity to tokenized assets, with integrations across chains including Sei, Sui, Avalanche, and Plume. The protocol connects with major asset managers and tokenization platforms such as BlackRock, Apollo, Hamilton Lane, and Securitize, as well as DeFi protocols like Morpho, Euler, Curve, Balancer, and Pendle. Elixir also operates a validator network and has recently enabled claims for Euler and Morpho users, indicating active protocol-level activity.

USDtb is a stablecoin issued by Ethena Labs, backed primarily by BlackRock's BUIDL tokenized treasury fund, which holds cash, U.S. Treasury Bills and Notes. Unlike algorithmic stablecoins, USDtb maintains its peg through institutional-grade short-duration treasury assets, with BNY Mellon as fund administrator and Securitize as transfer agent. It is composable across DeFi protocols including Aave, Morpho, Euler, and Fluid, and is also accepted as collateral on centralized exchanges such as Bybit. Ethena Labs, the team behind the synthetic dollar USDe, manages USDtb with backing from investors including Fidelity, Franklin Templeton, Dragonfly, Binance, and OKX.

ETHGas operates a marketplace for trading Ethereum blockspace commitments, including inclusion preconfirmations and whole-block sequencing rights, using a centralized order book for matching with non-custodial smart contracts handling collateral and settlement on-chain. The platform targets sub-5ms transaction confirmation times by connecting validators, block builders, and end users through a structured blockspace trading layer secured via EigenLayer's restaking AVS. It also offers an 'Open Gas' rebate program and gasless transaction abstractions aimed at reducing friction for end users and enabling institutional adoption. Ecosystem partners include validators such as Figment, Obol, and HashKey, block builders like Titan and BTCS, and investors including Polychain Capital, Amber Group, and BlueYard. The project raised a $12M seed round and reports over $10B in total value locked through

Euphoria is a mobile-first crypto derivatives trading app that aggregates options and perpetuals liquidity into a one-tap trading interface designed for retail users. Its technical approach combines embedded oracles with aggregated options and perps liquidity, abstracting the complexity of underlying protocols into a gamified consumer experience. The product targets retail traders and 'degens' seeking leveraged speculation on price trends and volatility without needing to understand implied or realized volatility mechanics. Backed by $7.5M in pre-seed and seed funding, the app is currently in waitlist phase with notable backers including Robot Ventures (Tarun Chitra), Figment Capital, Grug Capital, and Hash3.

Exponent is a Solana-based yield exchange that enables users to trade, hedge, and lock in fixed interest rates on yield-bearing assets through interest rate swaps. The protocol separates principal and yield tokens (e.g., PT-JitoSOL) to allow fixed-rate positions, floating-to-fixed swaps, and liquidity provision in yield markets — similar in design to Pendle on Ethereum. It supports staking yields (JitoSOL, mSOL, JupSOL) and credit markets, with reported metrics of $1.8B+ in traded yield volume and $100M+ TVL. The platform raised $2.1M in November 2024 and is preparing a v2 launch with private beta access, targeting both retail and institutional DeFi participants on Solana.

Falcon Finance is a synthetic dollar protocol that allows users to deposit liquid crypto assets — including stablecoins, blue-chip tokens, and altcoins — as collateral to mint USDf, an overcollateralized synthetic dollar. USDf can then be staked to produce sUSDf, a yield-bearing token backed by diversified institutional-grade trading strategies including basis spread arbitrage. The protocol reports $1.87B in TVL and $1.63B in USDf supply, with sUSDf offering approximately 6.95% APY. It targets traders, crypto project treasuries, and exchanges seeking yield on idle assets. The legal entity is Falcon Digital Limited, with no explicit HQ jurisdiction disclosed on the site.

Fenix is a DeFi staking protocol built within the XEN ecosystem that allows users to burn XEN tokens to mint FENIX, then stake FENIX to earn a fixed 1.61% annual inflationary yield. The protocol operates as a 'hyperstructure' — immutable smart contracts with no admin keys, no pre-mine, no ICO, and no origin address — designed to run indefinitely without maintenance or intermediaries. It is audited by CertiK and an independent auditor, and operates cross-chain across all networks supported by XEN. The project raised a $300K seed round in June 2024 and is positioned as a Blast-native trading and liquidity marketplace within the broader XEN/Fair Crypto ecosystem.

First Digital Labs is the issuer of FDUSD, a 1:1 USD-backed stablecoin issued by FD121 (BVI) Limited and custodied by First Digital Trust (FDT). The stablecoin operates across multiple blockchains including Solana, Sui, and Arbitrum, and is integrated with major DeFi protocols such as Aave, Curve, Uniswap, and PancakeSwap. Partners and liquidity providers include Wintermute, Cumberland, and Binance, indicating significant institutional and exchange-level adoption. The company originated as a spin-off from Legacy Trust, a Hong Kong-based financial institution, and raised $3M in 2020 to build an Asian settlement platform before pivoting to stablecoin issuance.

Fjord Foundry is a token sale launchpad and capital formation platform built on blockchain infrastructure, offering multiple sale models including Liquidity Bootstrapping Pools (LBPs), fixed price, tiered, and overflow sales. LBPs use dynamic weighting to let market forces discover token prices, reducing front-running and bot activity common in traditional IDO formats. The platform supports both permissionless community sales and curated partnered sales backed by recognized Web3 entities, covering seed rounds, private sales, and public sales with vesting schedules. As of its website, Fjord has facilitated over $1B in funds raised and $1.5B in volume traded across 100k+ participants, with multichain support across several EVM-compatible networks. It raised a $4.3M seed round in March 2024.

Flying Tulip is a DeFi protocol combining yield aggregation, a delta-neutral stablecoin (ftUSD), a money market with slippage-aware LTV, and a volatility-adaptive AMM with integrated limit-order routing. Its core mechanism pools user deposits into wrapper contracts and deploys them across lending, staking, and funding-rate strategies targeting 8–12% APY, with protocol yield used to buy back and burn the native FT token. The lending module sets borrow caps dynamically based on observed price impact and volatility rather than static asset lists, aiming to reduce liquidation risk. The project raised $206M via a public token sale (announced February 2026) and offers investors a perpetual put option for downside protection with no vesting cliff.

Four.meme is a memecoin launchpad built on BNB Chain that enables users to create and deploy fungible tokens with minimal technical friction. The platform operates a bonding-curve-style token issuance model, where newly created tokens trade on an internal market until they reach a liquidity threshold and graduate to a decentralized exchange. It targets retail crypto users and speculative traders who want to launch or trade low-cap meme tokens without writing smart contracts. The platform also features an X Mode token list, an agentic section, and ranking and campaign tools aimed at driving community engagement around newly launched tokens. The native token ticker is FORM, and the platform operates on Binance's BNB Smart Chain.

Frankencoin is a decentralized Swiss franc stablecoin (ZCHF) that maintains a 1:1 peg with the CHF through on-chain collateral rather than a centralized issuer. The protocol is deployed across 8 blockchains and holds approximately 30.6 million ZCHF in circulation backed by 56.2 million ZCHF in collateral as of late 2025. Users can borrow ZCHF by depositing crypto collateral, earn yield through DeFi integrations, and spend ZCHF at Spar supermarkets in Switzerland or via GnosisPay debit cards and Mt Pelerin IBAN linkage. The project is operated by the Frankencoin Association and claims compliance with Swiss law and MiCAR regulations.

General Protocols is a Bitcoin Cash-focused blockchain development company that builds open-source DeFi protocols and smart contract infrastructure. Its flagship products include AnyHedge, a non-custodial hedging protocol built on the BCH network, and Detoken, a decentralized trading platform that uses AnyHedge contracts. The company targets developers and businesses seeking to build financial applications on programmable money networks, positioning itself as a foundational infrastructure layer for BCH-based decentralized finance. Founded around 2020, General Protocols operates under the tagline 'Banking on freedom' and has received backing from investors in the Bitcoin Cash ecosystem.

Glider is a non-custodial, onchain portfolio management platform that lets users build and automate cryptocurrency portfolios with configurable rebalancing intervals ranging from minutes to daily. It uses smart wallets and session keys to maintain user custody while executing automated allocation strategies across multiple chains. The platform incorporates real-time market signals to dynamically shift asset allocations and claims predictive capabilities for volatile market conditions. Backers include a16z Crypto (via CSX), Uniswap, MoonPay, Base Ecosystem Fund, GSR, and Anagram, with a $4M funding round announced in April 2025.

Goblin Finance is a yield-optimization protocol built on the Aptos blockchain that automates liquidity management across Uniswap V3-style DEXs and perpetual exchanges. Its vaults offer three core strategies: Automated Liquidity Management (ALM) with dynamic rebalancing of concentrated LP positions, delta-neutral perpetual strategies that capture funding rates and price inefficiencies, and yield-enhanced LST vaults that layer staking rewards on top of strategy profits. The platform abstracts operational complexity so users can access multi-source yield with a single deposit, and is designed as modular infrastructure extensible to new DEXs, LSTs, and perp markets. Goblin raised a $1M strategic round in late 2024 and has received smart contract audits from ExVul, Plainshift, and Movebit, with 15 active strategies live at launch.

Goldilocks DAO is a suite of DeFi and NFTfi protocols built natively on Berachain, comprising three products: Goldiswap, an AMM designed to create upward-only price floors with interest-free, unliquidatable loans; Goldilend, an NFT-collateralized lending platform tailored for the Berachain ecosystem; and Goldivaults, a yield tokenization product spanning Berachain DeFi. The protocols have been audited by four firms — yAudit, Cyfrin, Hyacinth Audits, and Halborn — indicating a focus on security. The project raised a $1.5M seed round in August 2024. It operates as a DAO with no disclosed legal HQ.

Grix is a unified aggregation and tooling layer for DeFi derivatives, providing a single interface to compare options prices, manage positions, and execute strategies across 10 integrated protocols including Hyperliquid, Deribit, GMX, Premia, and Aevo. Its core differentiator is a protocol-agnostic abstraction layer — described as a 'universal language' — that normalizes data and interactions across fragmented on-chain derivatives venues. The platform also exposes APIs and plugins for AI agents (via Eliza and MCP integrations), enabling automated trading strategies and LLM-driven derivatives workflows. As of its website, Grix reports $10.8M in notional volume, 285 active traders, 117+ active trade agents, and 1,937+ buy option transactions. The project raised a $1.1M seed round in January 2025.

Haiku is a declarative DeFi execution engine that converts complex multi-step on-chain strategies into single transactions across 22 chains and 45+ integrated protocols. Rather than requiring users to manually bridge, approve, swap, and deposit across multiple platforms, Haiku's API accepts a target portfolio state and computes and executes the full transaction path automatically with all-or-nothing atomicity. The platform has processed over $40M in volume with a 99.8% API success rate and serves developers, institutions, AI agents, and power users through distinct product tiers (API, Pro, and Agent). It raised a $1M pre-seed round and positions itself as infrastructure for wallets, protocols, and fund managers needing complex cross-chain strategy execution.

Hamilton issues USDh, a USD-pegged stablecoin backed by US government bonds and designed to capture carry trade yield, currently offering approximately 7% APY. The protocol is built on the Bitcoin network, positioning itself within the real-world asset (RWA) tokenization space by bringing Treasury-backed dollar instruments on-chain. The product is currently in testnet phase, suggesting early-stage development consistent with its January 2025 pre-seed raise of $1.7M. Target users appear to be crypto-native holders seeking yield-bearing dollar exposure without leaving the Bitcoin ecosystem.

Harmonix Finance is a DeFi yield platform that packages hedge fund-style strategies — including delta-neutral, options wheel, and restaking vaults — into automated on-chain smart contracts. Its core differentiator is generating yield in bearish market conditions through derivatives-based strategies, not just bull-market liquidity provision. The platform currently advertises vault APYs around 10.68% and staking APRs of 2.28%, with integrations on Hyperliquid and partnerships with ValiDAO, Nansen, and Felix. Smart contracts have been audited by Verichains, Shieldify, and Zenith, and the protocol raised $600K via a public token sale announced in late 2025.

Hedron (HDRN) is a set of smart contracts deployed on Ethereum and PulseChain that extends the HEX staking ecosystem by allowing HEX stakers to mint or borrow HDRN tokens against their active HEX stakes. Stakers can also wrap HEX stakes into tokenized NFT contracts (HEX Stake Instances, or HSIs) that can be traded on compatible NFT marketplaces, enabling stake liquidity without emergency unstaking. The borrowing mechanism allows users to receive HDRN advances in a lump sum against their HSI collateral, with defaulted advances subject to on-chain auction. The protocol is fully non-custodial with no admin keys or kill switches, and its smart contracts have been audited by CertiK.

Hibachi is a high-performance decentralized exchange (DEX) engineered for professional and institutional perpetual futures trading. The platform utilizes a sovereign rollup architecture built on Celestia’s data availability layer to deliver microsecond-level execution speeds comparable to centralized exchanges. By combining an off-chain central limit order book with on-chain zero-knowledge (ZK) proofs, Hibachi ensures that all trades are publicly verifiable while maintaining absolute privacy for individual positions and trading flows. This innovative design allows participants to trade with "lightning speed" without exposing sensitive strategies to the public blockchain.

Hive (by Hive Labs) is a DeFi yield optimization tool built on Solana that automates capital allocation across lending and liquidity protocols. Users input three parameters — risk tolerance, time horizon, and capital amount — and the engine queries protocols such as Kamino, Jupiter, Solend, Raydium, and Sanctum in real time to generate a personalized allocation, executed in a single atomic transaction. The product targets the estimated $27.6B in idle stablecoins on Solana, framing manual APY research and multi-step rebalancing as the core problem it solves. As of mid-2025, the platform is pre-launch with a waitlist open ahead of an April 2026 target release.

ht.digital (htdigitalassets.com) is the product arm of Hex Trust that issues USDX, a USD-pegged stablecoin backed 1:1 by US Treasuries and cash equivalents held under licensed custody. Reserve assets are held in segregated accounts with regular third-party attestation reports on proof of reserves. USDX is tradeable on BitMart and swappable on Curve and Sparkdex, and can be deployed into yield-bearing Investment Vaults via Clearpool, offering exposure to T-Bill strategies, delta-neutral arbitrage, and forthcoming Pay-Fi pools. The entity is notable for a reported majority-stake acquisition by Bridgepoint, a private equity firm, signalling institutional backing for its stablecoin and custody infrastructure.