Contango V2

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.

Counts the tokens locked in the positions to be used as margin + user's tokens locked in the protocol's vault. Borrowed coins are discounted from the TVL, so only the position margins are counted. The reason behind this is that the protocol only added the user's margin to the underlying money market. Adding the borrowed coins to the TVL can be used as a proxy for the protocol's open interest.

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

Contango V2 is published as a versioned release inside the Contango protocol family. Releases inside the same family typically share governance, brand, and large parts of the audit history, but each version can run materially different contract logic — a release labelled v2 or v3 is not just a UI refresh. Newer versions inside a family typically launch with their own audit cycle and parameter set, so do not assume the previous release's safety record carries over without checking the linked audit reports.

Fork lineage and parent-protocol relationships are tracked by DeFiLlama for security and audit-history attribution; a fork inherits the upstream design but not necessarily the upstream audits or governance.

Contango V2 is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.

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

1. Oct 6, 2023
   Listed on DeFiLlama
2. Oct 16, 2024
   Affected by the Radiant hack

Contango V2 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 10 chains, including Ethereum, Base, Arbitrum, Optimism and 6 other chains. The codebase has been independently audited (1 report on file). DeFiLlama tracks 1 historical event for this protocol since 2024.

Contango V2 runs a multi-chain deployment, with smart contracts live on 10 networks. TVL is comparatively balanced across networks: even the largest deployment (borrowed) holds only 47% of the protocol's value. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.

Verified external resources for Contango V2 — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Contango V2 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 $2.3B in deposits, giving you a frame of reference for whether Contango V2's own TVL is at the top, middle, or tail of the category.

Jupiter Perpetual Exchange

TVL $910.6M · 24h -0.27%

Hyperliquid HLP

TVL $431.7M · 24h +0.11%

Drift Trade

TVL $334.4M · 24h +0.22%

GMX V2 Perps

TVL $267.5M · 24h -0.08%

Extended

TVL $196.4M · 24h +0.06%

dYdX V4

TVL $125.3M · 24h +0.58%