Ask about Railgun · freeTotal Value Locked$112.79m
TVL by Chain
Ethereum$108.2m
Arbitrum$3.14m
BSC$970,737
Polygon$480,588
Key Metrics
Fees 30d$389,362
Fees 30d by chain
Ethereum$333,101
Arbitrum$42,503
BSC$7,453
Polygon$6,306
Fees 7d$91,713
Ethereum$78,414
Arbitrum$9,695
BSC$2,183
Polygon$1,423
Fees 24h$14,105
Ethereum$13,454
Arbitrum$337
Polygon$241
BSC$73.49
Cumulative Fees$14.03m
Ethereum$12.63m
Arbitrum$819,545
BSC$302,438
Polygon$279,267
Revenue 30d$389,362
Revenue 30d by chain
Ethereum$333,101
Arbitrum$42,503
BSC$7,453
Polygon$6,306
Revenue 7d$91,713
Ethereum$78,414
Arbitrum$9,695
BSC$2,183
Polygon$1,423
Revenue 24h$14,105
Ethereum$13,454
Arbitrum$337
Polygon$241
BSC$73.49
Cumulative Revenue$14.03m
Ethereum$12.63m
Arbitrum$819,545
BSC$302,438
Polygon$279,267
Holders Revenue 30d$211,563
Holders Revenue 30d by chain
Ethereum$211,563
Arbitrum$0
BSC$0
Polygon$0
Holders Revenue 7d$103,527
Ethereum$103,527
Arbitrum$0
BSC$0
Polygon$0
Holders Revenue 24h$0
Arbitrum$0
BSC$0
Ethereum$0
Polygon$0
Cumulative Holders Revenue$3.06m
Ethereum$3.06m
Arbitrum$0
BSC$0
Polygon$0
Market Cap$148.22m
$RAIL Price$2.46
Fully Diluted Valuation$148.22m
$RAIL Volume 24h$151,355
CEX Volume$57,141
DEX Volume$95,088(62.82% of total)
Staked$104.9m(70.77% of mcap)
Treasury$8.11m
Majors$1.92m
Stablecoins$911,993
Own Tokens$5.11m
Others$168,079
Total Raised$7m
Jul 26, 2021$7mRound: Private token saleInvestors: DCG
Protocol Information
RAILGUN secures privacy for DEX trading and lending. Built without any bridge or layer-2, RAILGUN is a smart contract system that gives zk-SNARK privacy to any transaction or smart contract interaction on Ethereum.
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: All deductions paid by users using Railgun privacy smart contracts.View code on GitHubRevenue: All deductions paid by users using Railgun privacy smart contracts are collected by Railgun treasury contracts.View code on GitHubHolders Revenue: 4.2% (was 2% before July 29, 2026) of the treasury is distributed to the claiming mechanism every 2 weeks.View code on GitHubTreasury: Value of tokens owned by the protocolCompetitors
Railgun history
TVL is the default DefiLlama definition, which excludes Staking. Daily values are UTC snapshots from Jan 28, 2022 to Oct 28, 2026.
All-time high TVL: $137.85m on Aug 14, 2025. All-time low TVL: $10,199 on Jul 13, 2022.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| Sep 29, 2026 | $97.1m |
| Sep 30, 2026 | $117.29m |
| Oct 1, 2026 | $117.43m |
| Oct 2, 2026 | $116.93m |
| Oct 3, 2026 | $115.16m |
| Oct 4, 2026 | $115.18m |
| Oct 5, 2026 | $116.66m |
| Oct 6, 2026 | $117.03m |
| Oct 7, 2026 | $117.42m |
| Oct 8, 2026 | $115.52m |
| Oct 9, 2026 | $111.63m |
| Oct 10, 2026 | $112.33m |
| Oct 11, 2026 | $113.57m |
| Oct 12, 2026 | $115.04m |
| Oct 13, 2026 | $111.62m |
| Oct 14, 2026 | $113.22m |
| Oct 15, 2026 | $111.21m |
| Oct 16, 2026 | $113.49m |
| Oct 17, 2026 | $112.44m |
| Oct 18, 2026 | $112.02m |
| Oct 19, 2026 | $113.43m |
| Oct 20, 2026 | $112.79m |
| Oct 21, 2026 | $115.13m |
| Oct 22, 2026 | $115.38m |
| Oct 23, 2026 | $112.19m |
| Oct 24, 2026 | $111.23m |
| Oct 25, 2026 | $110.25m |
| Oct 26, 2026 | $111.38m |
| Oct 27, 2026 | $111.7m |
| Oct 28, 2026 | $112.82m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $76.88m |
| Dec 31, 2024 | $92.43m |
| Jan 31, 2025 | $89.22m |
| Feb 28, 2025 | $67.58m |
| Mar 31, 2025 | $65.39m |
| Apr 30, 2025 | $52.86m |
| May 31, 2025 | $62.13m |
| Jun 30, 2025 | $60.41m |
| Jul 31, 2025 | $97.18m |
| Aug 31, 2025 | $128.41m |
| Sep 30, 2025 | $106.71m |
| Oct 31, 2025 | $104.31m |
| Nov 30, 2025 | $95.16m |
| Dec 31, 2025 | $97.41m |
| Jan 31, 2026 | $93.88m |
| Feb 28, 2026 | $81.29m |
| Mar 31, 2026 | $93.25m |
| Apr 30, 2026 | $94.39m |
| May 31, 2026 | $88.29m |
| Jun 30, 2026 | $78.01m |
| Jul 31, 2026 | $79.66m |
| Aug 31, 2026 | $92.04m |
| Sep 30, 2026 | $117.29m |
| Oct 28, 2026 (latest) | $112.82m |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $3.06m |
| Dec 31, 2023 | $13.82m |
| Dec 31, 2024 | $92.43m |
| Dec 31, 2025 | $97.41m |
Fees, revenue and holders revenue by UTC calendar month, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $337,796 | $337,796 | - |
| Dec 2024 | $498,562 | $498,562 | $0 |
| Jan 2025 | $459,921 | $459,921 | $140,711 |
| Feb 2025 | $605,078 | $605,078 | $84,712 |
| Mar 2025 | $346,104 | $346,104 | $72,870 |
| Apr 2025 | $342,286 | $342,286 | $68,885 |
| May 2025 | $413,828 | $413,828 | $91,332 |
| Jun 2025 | $277,773 | $277,773 | $109,025 |
| Jul 2025 | $283,577 | $283,577 | $202,843 |
| Aug 2025 | $566,207 | $566,207 | $193,897 |
| Sep 2025 | $462,223 | $462,223 | $182,787 |
| Oct 2025 | $523,056 | $523,056 | $182,799 |
| Nov 2025 | $371,127 | $371,127 | $146,170 |
| Dec 2025 | $366,474 | $366,474 | $138,029 |
| Jan 2026 | $353,021 | $353,021 | $199,426 |
| Feb 2026 | $330,534 | $330,534 | $76,461 |
| Mar 2026 | $319,162 | $319,162 | $84,215 |
| Apr 2026 | $381,658 | $381,658 | $94,260 |
| May 2026 | $330,524 | $330,524 | $96,265 |
| Jun 2026 | $293,761 | $293,761 | $82,282 |
| Jul 2026 | $329,416 | $329,416 | $175,906 |
| Aug 2026 | $304,713 | $304,713 | $201,931 |
| Sep 2026 | $385,507 | $385,507 | $225,402 |
| Oct 2026 (to date) | $322,368 | $322,368 | $211,563 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/railgun
Frequently asked questions
What is Railgun's TVL?
As of Oct 28, 2026, Railgun has $112.79m in total value locked. TVL has increased 15.6% over the past 30 days.
What chains does Railgun operate on?
Railgun operates on 4 chains: Ethereum, Arbitrum, BSC, and Polygon. Ethereum holds the largest share at 95.9%.
How much has Railgun generated in fees and revenue?
Over the past 30 days, Railgun generated $389,362 in fees. Of that, $389,362 was protocol revenue. Based on the trailing year, the annualized rate is $4.18m in fees and $4.18m in revenue.
What is the RAIL token price and valuation?
RAIL is currently trading at $2.48. Its circulating market capitalization is $148.9m, ranking it #312. Its fully diluted valuation is $148.9m. Supply currently stands at 60m circulating, 60m total supply, 100m maximum supply.
How has RAIL performed recently?
RAIL is up 5.7% over the past 7 days and down 13.7% over the past 30 days. Its all-time high is $5.66, reached on Nov 7, 2025. The token is currently 56.2% below that level.
How does Railgun's TVL compare to similar protocols?
Among Privacy protocols tracked by DefiLlama, Railgun ranks #3 by TVL. The category holds $1.075b across 52 protocols, and Railgun accounts for 10.5% of that total. Similar protocols include Tornado Cash, zERC20, Hinkal, Vortexo, Privacy Pools, Privacy Cash, Nullmask, Payy, Zama, and The Interfold.
Does Railgun have a treasury?
Railgun has a tracked treasury currently valued at $8.11m. Its holdings include $911,993 in stablecoins, $1.92m in major assets, $5.11m in its own tokens, $168,079 in other assets.