Logo of Covo FinanceCovo Finance(COVO)
Total Value Locked$502

TVL by Chain

Polygon$502

Key Metrics

Cumulative Fees$86,424
Cumulative Fees by chain

Polygon$86,424

Cumulative Revenue$34,570
Cumulative Revenue by chain

Polygon$34,570

Cumulative Holders Revenue$34,570
Cumulative Holders Revenue by chain

Polygon$34,570

Cumulative Perp Volume$63.48m
Cumulative Perp Volume by chain

Polygon$63.48m

Staked$0

Protocol Information

Covo Finance is a decentralized trading platform that offers spot and perpetual trading with low swap fees and zero market impact. The platform offers a maximum leverage of 50x on major cryptos and is backed by a singular multi-asset pool that generates income for liquidity providers through fees garnered from market making, swap transactions, leveraged trading (including spreads, funding fees, and liquidations), and rebalancing of assets.

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Category:Derivatives
Products:

Methodology

TVL: Total value of all coins held in the smart contracts of the protocol

Fees:

Covo V1 - Fees from open/close position, swap, mint and burn (based on tokens balance in the pool) and borrow fee ((assets borrowed)/(total assets in pool)*0.01%)View code on GitHubCovo V2 - Fees collected from open/close position, liquidations, and borrow feeView code on GitHub

Revenue:

Covo V1 - Revenue is 30% of all collected fees, which goes to COVO stakersView code on GitHubCovo V2 - Revenue is 40% of all collected fees, which goes to COVO stakersView code on GitHub

Holders Revenue:

Covo V1 - 30% of all collected fees goes to COVO stakersView code on GitHubCovo V2 - 40% of all collected fees goes to COVO stakersView code on GitHub

Perp Volume: Notional volume of all trades including leverage on the perp exchange

Competitors

Gains Network ($10.32m)Contango V2 ($6.16m)ApeX Pro ($1.43m)Vest Markets ($482,513.65)MUFEX ($276,639.39)HMX ($264,784.58)Jarvis Network ($261,127.16)Domination Finance ($237,724.93)Lynx ($192,510.91)Float ($143,376.49)

Frequently Asked Questions

What is Covo Finance's TVL?

Covo Finance currently has $502 in total value locked. TVL has increased 7.3% over the past 30 days.

What chains does Covo Finance operate on?

Covo Finance operates on Polygon. Polygon holds the largest share at 100%.

How does Covo Finance's TVL compare to similar protocols?

Among Derivatives protocols tracked by DefiLlama, Covo Finance ranks #225 by TVL. The category holds $2.049b across 423 protocols, and Covo Finance accounts for <0.1% of that total. Other leading protocols include Gains Network, Contango V2, ApeX Pro, Vest Markets, MUFEX, HMX, Jarvis Network, Domination Finance, Lynx, and Float.