Covo V2(COVO)
Total Value Locked$495.06
TVL by Chain
Polygon$495.06
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
A Decentralized Crypto Trading Platform with up to 50X Leverage.
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: Fees collected from open/close position, liquidations, and borrow feeView code on GitHubRevenue: Revenue is 40% of all collected fees, which goes to COVO stakersView code on GitHubHolders Revenue: 40% of all collected fees goes to COVO stakersView code on GitHubPerp Volume: Notional volume of all trades including leverage on the perp exchangeView code on GitHubCompetitors
Covo V2 history
TVL is the default DefiLlama definition, which excludes Staking. Daily values are UTC snapshots from Mar 27, 2023 to Oct 28, 2026.
All-time high TVL: $306,604 on Jul 19, 2023. All-time low TVL: $355 on Oct 18, 2025.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $527 |
| Sep 30, 2026 | $532 |
| Oct 1, 2026 | $526 |
| Oct 2, 2026 | $518 |
| Oct 3, 2026 | $518 |
| Oct 4, 2026 | $521 |
| Oct 5, 2026 | $522 |
| Oct 6, 2026 | $521 |
| Oct 7, 2026 | $512 |
| Oct 8, 2026 | $510 |
| Oct 9, 2026 | $504 |
| Oct 10, 2026 | $506 |
| Oct 11, 2026 | $510 |
| Oct 12, 2026 | $511 |
| Oct 13, 2026 | $510 |
| Oct 14, 2026 | $509 |
| Oct 15, 2026 | $500 |
| Oct 16, 2026 | $500 |
| Oct 17, 2026 | $498 |
| Oct 18, 2026 | $496 |
| Oct 19, 2026 | $494 |
| Oct 20, 2026 | $495 |
| Oct 21, 2026 | $499 |
| Oct 22, 2026 | $497 |
| Oct 23, 2026 | $492 |
| Oct 24, 2026 | $492 |
| Oct 25, 2026 | $491 |
| Oct 26, 2026 | $490 |
| Oct 27, 2026 | $493 |
| Oct 28, 2026 | $495 |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $1,244 |
| Dec 31, 2024 | $1,046 |
| Jan 31, 2025 | $981 |
| Feb 28, 2025 | $773 |
| Mar 31, 2025 | $664 |
| Apr 30, 2025 | $712 |
| May 31, 2025 | $663 |
| Jun 30, 2025 | $634 |
| Jul 31, 2025 | $684 |
| Aug 31, 2025 | $742 |
| Sep 30, 2025 | $696 |
| Oct 31, 2025 | $635 |
| Nov 30, 2025 | $559 |
| Dec 31, 2025 | $510 |
| Jan 31, 2026 | $524 |
| Feb 28, 2026 | $519 |
| Mar 31, 2026 | $496 |
| Apr 30, 2026 | $498 |
| May 31, 2026 | $493 |
| Jun 30, 2026 | $461 |
| Jul 31, 2026 | $464 |
| Aug 31, 2026 | $500 |
| Sep 30, 2026 | $532 |
| Oct 28, 2026 (latest) | $495 |
TVL at each year end, Dec 31, 2023 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2023 | $6,521 |
| Dec 31, 2024 | $1,046 |
| Dec 31, 2025 | $510 |
Fees, revenue and holders revenue by UTC calendar month, Jan 2024 to Jan 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Jan 2024 | $24 | $9 | $9 |
| Mar 2024 | $0 | $0 | $0 |
| Apr 2024 | $0 | $0 | $0 |
| May 2024 | $0 | $0 | $0 |
| Jun 2024 | $0 | $0 | $0 |
| Jul 2024 | $0 | $0 | $0 |
| Aug 2024 | $0 | $0 | $0 |
| Sep 2024 | $0 | $0 | $0 |
| Oct 2024 | $0 | $0 | $0 |
| Nov 2024 | $0 | $0 | $0 |
| Dec 2024 | $0 | $0 | $0 |
| Jan 2025 | $0 | $0 | $0 |
| Feb 2025 | $0 | $0 | $0 |
| Mar 2025 | $0 | $0 | $0 |
| Apr 2025 | $0 | $0 | $0 |
| May 2025 | $0 | $0 | $0 |
| Jun 2025 | $0 | $0 | $0 |
| Jul 2025 | $0 | $0 | $0 |
| Aug 2025 | $0 | $0 | $0 |
| Sep 2025 | $0 | $0 | $0 |
| Oct 2025 | $0 | $0 | $0 |
| Nov 2025 | $0 | $0 | $0 |
| Dec 2025 | $0 | $0 | $0 |
| Jan 2026 | $0 | $0 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/covo-v2
Frequently asked questions
What is Covo V2's TVL?
As of Oct 28, 2026, Covo V2 has $495.06 in total value locked. TVL has decreased 7.3% over the past 30 days.
What chains does Covo V2 operate on?
Covo V2 operates on Polygon. Polygon holds the largest share at 100%.
How does Covo V2's TVL compare to similar protocols?
Among Derivatives protocols tracked by DefiLlama, Covo V2 ranks #221 by TVL. The category holds $1.974b across 426 protocols, and Covo V2 accounts for <0.1% of that total. Similar protocols include Contango V2, Gains Network, ApeX Pro, MUFEX, Vest Markets, Lynx, Float, Domination Finance, Jarvis Network, and Rubin Trade.