Fluid DEX
Best for documented on-chain trading
How it rates
- Documentation published at a public address
- Deployed across 5 chains
- No audit report linked in the public dataset at this check
Each indicator scores 2, 1 or 0. A pillar is the points earned over the points available; the overall score is the weighted sum. Every source below is public — check any of them yourself.
- Not metIndependent audit published with a linked report
No audit report linked in the public protocol dataset at this check.
defillama.com/protocol/fluid-dex - Not met
- MetProtocol tracked by an independent analytics platform
Listed with published TVL and history.
defillama.com/protocol/fluid-dex - Met
- Met
- MetDocumentation published where fees are described
Documentation reachable for fee review.
docs.fluid.io/ - Met
- MetIndependent dataset publishes protocol economics
TVL and change history published independently.
defillama.com/protocol/fluid-dex - PartialFee model documented publicly
Documentation available; specific fee tiers not captured at this check.
docs.fluid.io/ - Met
- Met
- Met
- Met
- Met
- MetListed on the independent dataset for over a year
Listing date recorded in the dataset.
defillama.com/protocol/fluid-dex
- MetIndependent analytics page published
Public protocol page with history.
defillama.com/protocol/fluid-dex - Not metAudit documentation linked publicly
No audit report linked at this check.
defillama.com/protocol/fluid-dex - Met
- MetProtocol identity and chains disclosed
Chains and category published: Dexs.
defillama.com/protocol/fluid-dex - Met
- Met
- Met
- Met
- Not met
- Met
A decentralised exchange whose liquidity doubles as lending collateral and debt, holding $287m across five chains under a novel capital-efficiency design.
Our assessment
Fluid DEX is architecturally distinct from everything else in this comparison. The same capital acts as trading liquidity and as collateral or debt in a lending market — so a position earns swap fees and lending yield simultaneously, from one deposit.
Smart collateral and smart debt
In a conventional setup, capital supplied to a DEX is idle for lending purposes and vice versa. Fluid makes a lending position's collateral available as trading liquidity, and lets debt be denominated in a pair that trades. The capital efficiency is genuine and it is the reason the design attracts attention.
Combining two risk surfaces
Efficiency of this kind comes from combining exposures rather than eliminating them. A position now carries AMM divergence risk and lending liquidation risk in the same contract, and the interactions between them are harder to reason about than either alone. Anyone using it should be comfortable with both mechanisms separately before combining them.
No linked audit report at this check
We found no audit report linked at a public address, which is a significant gap for a novel design. Established AMMs benefit from years of adversarial attention on well-understood code; a new architecture has neither that history nor, here, a published review. Our counterparty pillar weights this at 30% for exactly this reason.
Who it suits
Fluid fits experienced DeFi users who understand both AMM and lending mechanics and want the capital efficiency of combining them. Users who want proven, audited contracts should choose Uniswap, Curve or PancakeSwap.
How rivals compare
Frequently asked
Does this score mean Fluid DEX is safe to use?
No. It measures what an outsider can verify: linked audits, published documentation and independently recorded market data. Contract behaviour is not tested by us.
Where does the TVL figure come from?
An independent public analytics platform, queried at the verification date. Anyone can re-run the same query.
Why do some protocols score zero on audits?
Because no audit report is linked in the public dataset. It records what a user can reach, not a claim that no audit was ever performed.