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Lemma
Lemma
-Derivatives
Audited
DeFiLlama Derivatives·$9.3K TVL·+0.02% 1h·+0.07% 24h·+2.87% 7d·1 chains

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Protocol TVL

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About Lemma

Lemma is a decentralized finance (DeFi) protocol with two products: leveraged basis trading vault and USDL, a stablecoin that is fully decentralized, 100% capital efficient and USD pegged. It also has a spot exchange that allows traders to swap spot assets using perpetual futures markets much deeper liquidity called LemmaSwap.

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

Security & Audits

Audited by external firms
2 audits
Audit reports
github.com/lemma-finance/audits/tree/main/audits

Lemma Timeline

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

  1. Sep 28, 2022
    Listed on DeFiLlama

Protocol Profile

Lemma 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 Optimism. The codebase has been independently audited (1 report on file).

TVL Distribution by Chain

Optimism
$9.3K(100.0%)

Supported Chains

Optimism

Protocol Footprint

Lemma is a single-chain protocol, deployed exclusively on Optimism — this concentrates execution risk but simplifies the trust model. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts.

Official Resources & Links

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

Twitter / X — @Lemma_Labs
twitter.com
Source Code on GitHub
github.com

Other Derivatives protocols on Mantapex

Lemma 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 Lemma's own TVL is at the top, middle, or tail of the category.

Jupiter Perpetual Exchange
Jupiter Perpetual Exchange
TVL $910.6M · 24h -0.27%
Hyperliquid HLP
Hyperliquid HLP
TVL $431.7M · 24h +0.11%
Drift Trade
Drift Trade
TVL $334.4M · 24h +0.22%
GMX V2 Perps
GMX V2 Perps
TVL $267.5M · 24h -0.08%
Extended
Extended
TVL $196.4M · 24h +0.06%
dYdX V4
dYdX V4
TVL $125.3M · 24h +0.58%
Browse all Derivatives protocols on Mantapex

Recent Lemma news

Latest reporting from major crypto news outlets covering Lemma.

Related protocols

Other DeFi protocols connected to Lemma by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.

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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