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Mantapex
MetalSwap
MetalSwap
XMTDerivatives
Audited
DeFiLlama Derivatives·$183.3K TVL·-0.19% 1h·+0.23% 24h·+5.72% 7d·5 chains

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Protocol TVL

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About MetalSwap

MetalSwap is a decentralized platform that allows hedging swaps on financial markets with the aim of providing a coverage to those who work with commodities and an investment opportunity for those who contribute to increase the shared liquidity of the project.

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

MetalSwap tokenomics and on-chain capital

A further $110.7K sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Tokens staked in protocol
$110.7K
Locked native staking

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.

Security & Audits

Audited by external firms
2 audits
Audit reports
certik.com/projects/metalswap

MetalSwap Timeline

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

  1. Jul 28, 2022
    Listed on DeFiLlama
  2. Feb 24, 2025
    TVL Migration to Denaria
  3. Sep 2, 2022
    Launch on ETH

Protocol Profile

MetalSwap 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 5 chains, including Linea, Optimism, Ethereum, Binance and 1 other chain. The codebase has been independently audited (1 report on file). DeFiLlama tracks 2 historical events for this protocol since 2022.

TVL Distribution by Chain

TVL spans 8 chains across the deployment. See the breakdown below for per-chain values.

staking
$110.7K(27.0%)
Linea
$109.6K(26.7%)
Ethereum-staking
$87.6K(21.3%)
Optimism
$71.4K(17.4%)
Binance-staking
$23.1K(5.6%)
Polygon-pool2
$2.8K(0.7%)
pool2
$2.8K(0.7%)
Ethereum
$2.4K(0.6%)

Supported Chains

Linea Optimism Ethereum Binance Polygon

Protocol Footprint

MetalSwap runs a multi-chain deployment, with smart contracts live on 5 networks. TVL is comparatively balanced across networks: even the largest deployment (staking) holds only 27% 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.

Official Resources & Links

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

Project Website
app.metalswap.finance
Twitter / X — @MetalSwapNet
twitter.com
Source Code on GitHub
github.com
Token on CoinGecko
coingecko.com
Token on CoinMarketCap
coinmarketcap.com

Other Derivatives protocols on Mantapex

MetalSwap 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 MetalSwap'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 MetalSwap news

Latest reporting from major crypto news outlets covering MetalSwap.

Related protocols

Other DeFi protocols connected to MetalSwap 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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