Surf Protocol

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Count the total balance across all pools for all trading pairs.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Wichtige Ereignisse, die von der DeFiLlama-Community markiert wurden — Protokoll-Launches, Exploits, Governance-Änderungen und Anreizprogramme.

1. Dec 23, 2023
   Auf DeFiLlama gelistet
2. Jan 23, 2026
   Shutdown of v1

Surf Protocol is a Derivatives protocol where traders open leveraged, perpetual, or option positions priced off oracle feeds and settled in collateral held by the contract. It is deployed across 2 chains, including Base, Merlin. The codebase has been independently audited (2 reports on file). DeFiLlama tracks 1 historical event for this protocol since 2026.

Surf Protocol operates on 2 networks (Base, Merlin), keeping its surface area narrower than chain-agnostic peers. Price discovery relies on 2 oracle providers (Uniswap, TWAP), which diversifies the data-feed surface but also expands the set of third parties users implicitly trust. Two audit reports are published on DeFiLlama, which is in line with typical practice for protocols at this scale.

Verified external resources for Surf Protocol — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Surf Protocol is one of 7 Derivatives protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Jupiter Perpetual Exchange, Hyperliquid HLP, Drift Trade, and 3 more. These peer protocols collectively secure 2,3 Mrd. $ in deposits, giving you a frame of reference for whether Surf Protocol's own TVL is at the top, middle, or tail of the category.

Jupiter Perpetual Exchange

TVL 910,6 Mio. $ · 24h -0.27%

Hyperliquid HLP

TVL 431,7 Mio. $ · 24h +0.11%

Drift Trade

TVL 334,4 Mio. $ · 24h +0.22%

GMX V2 Perps

TVL 267,5 Mio. $ · 24h -0.08%

Extended

TVL 196,4 Mio. $ · 24h +0.06%

dYdX V4

TVL 125,3 Mio. $ · 24h +0.58%