Covo V1
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Protocol TVL
About Covo V1
Covo V1 is a decentralized trading platform that offers spot and perpetual trading with low swap fees and zero market impact. The platform offers a maximum leverage of 50x on major cryptos and is backed by a singular multi-asset pool that generates income for liquidity providers through fees garnered from market making, swap transactions, leveraged trading (including spreads, funding fees, and liquidations), and rebalancing of assets
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
Covo V1 codebase lineage and protocol family
Covo V1 is published as a versioned release inside the Covo Finance 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.
Security & Audits
Oracles supply external price data to on-chain contracts. Oracle compromise is a common attack vector — diversified providers reduce single-point-of-failure risk.
Parent Protocol
Covo V1 is a versioned release inside a larger protocol family. View the parent for combined TVL and all sibling versions.
Covo FinanceCovo V1 Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Feb 12, 2023Listed on DeFiLlama
Protocol Profile
Covo V1 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 on Polygon.
TVL Distribution by Chain
Supported Chains
Protocol Footprint
Covo V1 is a single-chain protocol, deployed exclusively on Polygon — this concentrates execution risk but simplifies the trust model. Price discovery relies on 2 oracle providers (Chainlink, Pyth), which diversifies the data-feed surface but also expands the set of third parties users implicitly trust.
Official Resources & Links
Verified external resources for Covo V1 — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other Derivatives protocols on Mantapex
Covo V1 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 Covo V1's own TVL is at the top, middle, or tail of the category.
Related protocols
Other DeFi protocols connected to Covo V1 by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other Derivatives protocols
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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