SecretSwap

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

SecretSwap's governance or utility token carries a market capitalisation of $637.5K based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token ($637.5K) above the protocol's on-chain TVL ($364.1K) — a mcap/TVL multiple of 1.75× implies investors are paying for expected future fee flows rather than current deposits alone.

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.

SecretSwap is a DEX — a decentralised exchange where users swap assets against on-chain liquidity pools rather than a central order book. It is deployed on Secret.

SecretSwap is a single-chain protocol, deployed exclusively on Secret — this concentrates execution risk but simplifies the trust model. Its token market cap ($637.5K) currently exceeds total value locked ($364.1K) — a mcap/TVL ratio of 1.75 suggests the market is pricing in more growth than current deposits support.

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

SecretSwap is one of 7 DEX protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Curve DEX, Uniswap V3, PancakeSwap AMM, and 3 more. These peer protocols collectively secure $8B in deposits, giving you a frame of reference for whether SecretSwap's own TVL is at the top, middle, or tail of the category.

Curve DEX

TVL $1.9B · 24h +0.39%

Uniswap V3

TVL $1.8B · 24h -0.67%

PancakeSwap AMM

TVL $1.7B · 24h +0.14%

Raydium AMM

TVL $1.1B · 24h +0.66%

Uniswap V2

TVL $872.4M · 24h -0.17%

Uniswap V4

TVL $670.6M · 24h -0.47%