PopDEX

Perp + Spot (app-chain)

$— · Founded 2026 · popdex.xyz ↗

No token yetPre-token

Visit PopDEX ↗

★★★★★★★★★★

72/100dexwatch score · Solid

A CEX-style perp exchange with a fully on-chain order book on its own Morph Tachyon app-chain — deep market list and very low fees, but a permissioned validator set and only the bridge audited.

ℹ

Status

Trading on Morph Tachyon since mid-2026 (release notes from 15 July; RWA pairs and referrals added 10 August). No token has been announced. Open interest around $37M against roughly $50M of daily volume. Germany, France and Austria are on the prohibited list.

◆

For beginners

You need USDT bridged from Arbitrum or Morph, only cross margin is available, and German residents are excluded by the terms of use.

Key metrics

24h volume

$72.7M

Total value locked

$71.6M

Open interest

$37.9M

Share of tracked perp volume

0.4%

Market cap

n/a

Maker / taker fee

0.01% / 0.032%

Max leverage

100×

Trading pairs

Snapshot Oct 19, 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.

The honest take

Pros

✓Fully on-chain order book, matching and settlement on a dedicated gasless EVM chain; trading from your own wallet or an exportable embedded wallet

✓66 crypto and RWA perps (US indices, single stocks, pre-IPO names) at 0.010% / 0.032% base fees with maker rebates for market makers

✓Well-documented public REST and WebSocket API and on-chain referral contracts

Cons

✕Permissioned validators, bridged USDT custody and no audit of the exchange contracts — only the bridge and deposit contracts were reviewed by BlockSec; most TVL sits in one team-operated vault

✕Blocked for residents of the US, UK, Canada, Germany, France and Austria; cross margin only

Security

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

AuditsBlockSec (bridge and deposit contracts)

At a glance

ChainsMorph Tachyon

IncentivesVIP fee tiers; on-chain referral (20% of referee fees); no points, no token

TypePerp + Spot (app-chain)

BackersForesight Ventures ($30M seed, May 2026)

Made your choice?

Start trading on PopDEX

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.

Morph TachyonPerp + Spot (app-chain)

Open PopDEX ↗ Visit popdex.xyz Affiliate link · dexwatch may earn a commission at no extra cost to you.

Frequently asked about PopDEX

Is PopDEX safe to use?

There is no published dexwatch security score or audit list for PopDEX 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 PopDEX?

PopDEX charges a maker fee of 0.01% and a taker fee of 0.032%.

What is the maximum leverage on PopDEX?

PopDEX offers up to 100× 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 PopDEX support?

PopDEX operates on Morph Tachyon.

Is PopDEX good for beginners?

You need USDT bridged from Arbitrum or Morph, only cross margin is available, and German residents are excluded by the terms of use.

Does PopDEX have a token?

No. PopDEX 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

See full ranking →

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 19, 2026. Spotted an error? Tell us.