Bitmex

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.

We collect only wallets that have more than 20 bitcoins

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

Bitmex's governance or utility token carries a market capitalisation of $6.3M based on circulating supply at the latest DeFiLlama snapshot. The token's market cap ($6.3M) is small relative to deposits secured by the protocol ($1.2B); a mcap/TVL multiple of 0.01× is sometimes read as a discount, though it can also reflect minimal fee accrual to the token.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Nov 17, 2022
   Listed on DeFiLlama

Bitmex operates in the CEX category of DeFi. It is deployed across 6 chains, including Bitcoin, Ethereum, Tron, Solana and 2 other chains. No public audit reports are listed on DeFiLlama for this protocol.

Bitmex runs a multi-chain deployment, with smart contracts live on 6 networks. Roughly 98% of its on-chain value sits on just three networks (Bitcoin, Ethereum, Tron), so a fault on any one of them would affect a large slice of users. No public audit reports are linked from DeFiLlama for this protocol despite a non-trivial TVL — treat any deposit as carrying material smart-contract risk. Its token market cap ($6.3M) is small relative to TVL ($1.2B) — a mcap/TVL ratio of 0.01 is often read as the token being structurally undervalued versus the activity it secures.

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

Bitmex is one of 7 CEX protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Binance CEX, OKX, Bitfinex, and 3 more. These peer protocols collectively secure $228.7B in deposits, giving you a frame of reference for whether Bitmex's own TVL is at the top, middle, or tail of the category.

Binance CEX

TVL $156.8B · 24h -0.04%

OKX

TVL $18.8B · 24h +0.04%

Bitfinex

TVL $17.5B · 24h -0.47%

Bybit

TVL $16.3B · 24h -0.15%

Robinhood

TVL $13.6B · 24h +0.23%

Bitget

TVL $5.7B · 24h -0.88%