Drake

Perp DEX

$— · Founded 2024 · drake.exchange ↗

No token yetPre-token

Visit Drake ↗

★★★★★★★★★★

48/100dexwatch score · Caution

A fully on-chain Monad perp exchange that pairs a per-market order book with an oracle-priced backstop vault, settled in AUSD — tiny so far.

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Status

Public launch on 7 September 2026 (contracts held value since July). Five markets, 5–20× leverage, AUSD as the only collateral. A Sherlock audit exists but the report is only available on request, and the core contracts are upgradeable. Open interest is negligible, so volume and depth figures should be read with care. US, Chinese and Hong Kong residents are barred.

Key metrics

24h volume

n/a

Total value locked

$177.7K

Open interest

$1.1K

Share of tracked perp volume

n/a

Market cap

n/a

Maker / taker fee

0.01% / 0.05%

Max leverage

20×

Trading pairs

Snapshot Oct 25, 2026 from public sources (the venue's own market API for volume and open interest, DefiLlama for TVL). Live values refresh in your browser where a source is available. Fields without a verifiable source show n/a.

Overview

Drake is a perp dex that runs on Monad. It handles $177.7K in total value locked, charging a taker fee of 0.05% and offering up to 20× leverage. Founded in 2024.

A detailed editorial pros & cons breakdown, security score and audit history for Drake are not available yet — the figures above come from public trackers and the venue's own API where available. We add full profiles over time.

Security

No published security score or audit list is available for Drake in our dataset yet.

AuditsNot available

At a glance

ChainsMonad

IncentivesWeekly points (no token); MON rewards up to $100K per month, unlocked by platform volume; referrals

TypePerp DEX

BackersCMS Holdings ($1M seed, Sept 2025) with Monad community investors

Made your choice?

Start trading on Drake

Non-custodial — connect your wallet and you stay in control of your funds. Leverage is high-risk; only trade what you can afford to lose.

MonadPerp DEX

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Frequently asked about Drake

Is Drake safe to use?

There is no published dexwatch security score or audit list for Drake in our dataset yet, so we mark that as not available. Like other decentralized exchanges it is non-custodial, meaning you keep control of your funds in your own wallet. Always do your own research before trading.

What are the trading fees on Drake?

Drake charges a maker fee of 0.01% and a taker fee of 0.05%.

What is the maximum leverage on Drake?

Drake offers up to 20× leverage on supported markets. High leverage is extremely risky and can liquidate a position quickly — only trade what you can afford to lose.

Which blockchains does Drake support?

Drake operates on Monad.

Does Drake have a token?

No. Drake has no live token at the time of writing, and runs a points programme instead. Points are not a promise of an airdrop. We do not speculate on future token launches.

Compare with similar venues

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Learn before you trade

Open the Academy →

What are perpetuals & perp DEXes?Module 7 · 7 min read → Leverage risk & liquidationModule 7 · 6 min read → The crypto wallet: your key to the DEXModule 2 · 6 min read → Phishing, fake sites & wallet drainersModule 5 · 7 min read →

Key terms

Perpetuals Funding rate Leverage Liquidation Margin

Figures are a dated snapshot from public sources — they move constantly and are for reference only, not financial advice. Updated Oct 25, 2026. Spotted an error? Tell us.