DeFiPlaza is an open-source, decentralized exchange operating on both Ethereum and Radix. Its Radix deployment is a next-generation automated market maker built to reduce impermanent loss and deliver higher, more consistent returns for liquidity providers, prioritising sustainable LP income over raw trade volume.
History
DeFiPlaza launched on Ethereum in October 2021, where it became one of the network's more capital-efficient DEXs with up to 124 trading pairs. Following a unanimous community vote, the project expanded to the Radix L1 after the Babylon upgrade, bridging its DFP2 token to Radix and launching its Radix DEX in October 2023. The team cited Radix's asset-oriented design and more favourable transaction-cost dynamics as reasons for the move to a more secure environment for complex DeFi.
Core Features
- Multi-token trading: direct swaps between many token pairs from a shared pool, reducing intermediary hops.
- Single-sided liquidity: LPs gain exposure only to the token they provide plus DFP2, the platform's internal base token.
- Concentrated liquidity & dynamic fees: liquidity concentration and trading fees adjust to market conditions to improve capital efficiency and sustainability.
- Annualised LP Returns (ALR): each pair surfaces an ALR metric so liquidity providers can compare pool performance directly.
DFP2 Token
DFP2 is DeFiPlaza's operational base token, paired against listed assets (for example ASTRL/DFP2, XRD/DFP2, and WEFT/DFP2) and used to route multi-token swaps. It bridges between the Ethereum and Radix deployments, giving the two-chain platform a shared unit of account.
Status & Metrics
DeFiPlaza’s Radix deployment was live and operational when it was last measured against a moving ledger. Its public pairs endpoint listed 156 pairs on 27 August 2026 holding $183,419 in total value locked. That liquidity is concentrated: 50 of those pairs held more than $100 and 17 held more than $1,000. DefiLlama measured the same deployment at $180,367 on the same morning.
The two deployments are no longer peers. Ethereum produced almost all of DeFiPlaza's lifetime trading, roughly $846 million of the $855.5 million the protocol has settled across both chains, against about $9.5 million on Radix. It now produces almost none of it. In the thirty days to 26 August 2026 the Ethereum DEX traded $801 and collected $12 in fees, while the Radix DEX traded $119,685 and collected $1,095 (volume and fee series, per-chain breakdown). Radix holds 95.9% of the protocol's total value locked. The Ethereum swap app is still live and still quotes its 0.1% fee. The trading moved.
Reported value during the network halt
Radix mainnet stopped committing transactions on 31 August 2026 at 21:19:48 UTC, at state version 557,840,627, and did not restart until 11 September 2026. Nothing in DeFiPlaza’s Radix pools has moved in that time. The dollar figures published for those pools have, and by 9 September the two sources this page cites disagreed about them by 74%.
Read at 03:05 UTC on 9 September 2026, DeFiPlaza’s own pairs endpoint still listed 156 pairs, now holding $110,466, with 41 pairs above $100 and 14 above $1,000, and a volume of zero on every one of them. The token balances behind that figure are the ones frozen on 31 August. The endpoint reports 7,530,679.117206777 $XRD in the base pool of its $XRD/DFP2 pair, and the Radix Gateway, asked for that pool pinned to state version 557,840,622, returns 7,530,679.117206777387126939. The balances are the same, so the $72,953 the endpoint has shed since 27 August is a change in the price it marks them at and nothing else.
DefiLlama handles the same problem the opposite way and does not say so. Its record for DeFiPlaza reports a current Radix value of $191,915 and a current Ethereum value of $7,673, and both are the last points of series that end on 31 August 2026. The tracker stopped updating the whole protocol when the Radix ledger stopped, including the Ethereum deployment, which never stopped: DefiLlama’s records for Uniswap and Aave both carried points timestamped 01:1x UTC on 9 September. On 27 August the two sources were 1.7% apart on the same pools. They are 74% apart now, one publishing a nine-day-old number as current and the other re-marking frozen balances at a $XRD price that no longer has one value across exchanges.
DeFiPlaza’s analytics dashboard came back on 9 September after a week of failing, having timed out on 2 September and returned HTTP 500 on 4 and 5 September. It answers in about a second and prints two different answers on one page: $110K of total value locked in its header, $0.000 of total value locked “Today” in the chart below it, and a pairs table with no rows.
DefiLlama's volume series for DeFiPlaza records trading that did not happen. Its adapter, the script DefiLlama runs each day to collect a protocol's figures, asks DeFiPlaza's volume endpoint for a day and takes the volumeUSD it gets back without checking which day the answer belongs to. The endpoint returns its latest entry, and while the ledger was stopped the latest entry was 31 August: state version 557,840,558, 670 swaps and $17,028 of volume. Read on 13 September 2026, it still returns that entry for every timestamp from 1 to 10 September. DefiLlama's per-chain series accordingly shows $17,024 of Radix volume on each of those ten days, $170,240 in all, then $1,564 on 11 September, the day the network restarted, and $132 on 12 September. The Week in Review for 13 September reported the error.
Team
DeFiPlaza was created by three co-founders: Jazzer9F, the project's originator, an electrical engineer and long-standing Radix community member; UI_guy, responsible for front-end development; and djtrebel, who brought startup and community-engagement experience and is also associated with Astrolescent, a Radix DEX aggregator.