Onchain Finance Hub

Onchain Finance · 8 primitives

Onchain Finance, Primitive by Primitive

The building blocks of DeFi, how each one works, who leads it, and case studies of the protocols that defined it. Assets like stablecoins and tokenized RWAs live under Onchain Assets.

$166B

Locked across these primitives

$7.3B

Perp DEX volume, last 24 hours

$286B

Spot DEX volume, last 30 days

Live from DefiLlama · 17 Oct 2026 19:51 UTC · refreshed hourly

Market Map

Value locked by primitive. Some protocols count in more than one.

Spot DEX$13.7BPerp DEX$2.0BOptions$211MLending$51.5BStaking$65.9BYield Vaults$25.0BStructured Products$7.7BLaunchpads$243M

Primitives

Token X in poolYx · y = kSell X → get YPrice movesLPs earn fee
01$13.7B

Spot DEX

Swap tokens without a broker

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IndexPerp above index → longs payBelow index → shorts payMarginLiquidation
02$2.0B

Perp DEX

Leverage without expiry

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StrikePrice at expiry →Payoff− premiumCall · right to buyPut · right to sellPremium up frontBuyer risk capped at it
03$211M

Options

The right, not the obligation

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UtilizationAPRKinkHealth factor1.0 · liquidateSuppliersPoolBorrowers
04$51.5B

Lending

Borrow against collateral, earn on deposits

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VanillaETHValidatorLockedLiquidETHLST tokenUsable in DeFiRestakingLSTServices+ yield, + slashing
05$65.9B

Staking

Secure a chain, earn its rewards

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DepositVaultSHARESMarket AMarket BMarket CCurator rebalances within capsShare price
06$25.0B

Yield Vaults

Deposit once, strategies do the work

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Building blocksYield sourceHedgeOptionsTranchingUnderlying moveReturnUnderlyingPrincipal-protectedCapped (covered call)Delta-neutral carry
07$7.7B

Structured Products

Repackage yield and risk

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Tokens boughtPriceGraduationDEX poolLIQUIDITY MIGRATESLaunch in a minuteNo presale, one curve
08$243M

Launchpads

Anyone can launch a token

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Protocol Case Studies

14 protocols that defined their category.