Vires Finance is a non-custodial lending and borrowing protocol on the Waves blockchain, aimed at Waves users who want to earn interest or borrow.
TVL $6.54M−3.3%Waves
Ecosystem guide
The Waves ecosystem
The best dApps on Waves by sector: DeFi, games, NFTs and more. 10 projects tracked, 10 reviewed in full.
Full Waves ranking →- dApps
- 10
- Reviewed
- 10
- TVL tracked
- $7.60M
- Native token
- WAVES
Waves is a layer 1 blockchain launched in 2016 as a platform for creating tokens and decentralized applications. It uses leased proof-of-stake, where WAVES holders can lease their tokens to block-producing nodes without handing over ownership. It is not an EVM chain: smart contracts are written in Ride, the platform's own language, so Ethereum wallets and tooling do not work directly.
WAVES is the native token. It pays transaction fees, is used for staking and leasing, and acts as a base asset in many trading pairs and lending markets. Fees on the network are generally small, though exact costs depend on the type of transaction.
The Waves DeFi scene is compact, with about $7.7M in total value locked at the time of writing. Vires Finance leads with lending and borrowing, while Puzzle Swap and Swop provide token swaps and liquidity pools. PepeTeam sWAVES offers liquid staking for WAVES, and bridges such as PepeTeam Bridge and WavesBridge connect the chain to Ethereum, BNB Chain and other networks. This page lists 11 dApps on Waves.
Waves ecosystem in numbers
- Tracked
- 10
- Reviewed
- 10
- Total TVL
- $12.8M
- Avg. score
- 5.7/10
Largest by TVL
- 1
Vires Finance$6.54M
- 2
Waves Exchange$4.24M
- 3
PepeTeam Bridge$679K
- 4
Puzzle Swap$431K
- 5
Swop$383K
Highest rated
- 1
- 2
- 3
- 4
PepeTeam sWAVES5.5
- 5
WavesBridge5.5
Reviewed
Top-rated dApps on Waves
PepeTeam Bridge is a small lock-and-mint cross-chain bridge linking Ethereum, BNB Chain, Polygon, Tron and Waves for users moving assets between networks.
TVL $679K−1.9%Ethereum · Waves · BNB Chain +2
Swop.fi is an AMM-style decentralized exchange for the Waves ecosystem, offering token swaps and passive income options, with about $358K TVL.
TVL $383K+17.1%Waves · Unit0
PepeTeam sWAVES is a liquid staking token for WAVES on the Waves blockchain, aimed at holders who want staking yield while keeping their tokens usable.
TVL $237K+1.0%Waves
WavesBridge is a cross-chain token bridge linking Waves and Unit Zero assets with Ethereum, BNB Chain and Solana, aimed at Waves ecosystem users.
TVL $13.3K+0.7%Waves · Solana · Ethereum +2
Puzzle Swap is a Waves-based decentralized exchange with mega pools and a PUZZLE token, aimed at Waves DeFi users.
TVL $431K+1.4%Waves
By sector
Best Waves dApps by sector
DeFi on Waves8
- 1
- 2
- 3
- 4
- 5
Infrastructure on Waves2
- 1
- 2
Tokens
Top tokens on Waves
Waves's native coin is Waves (WAVES). The largest tokens with a contract on Waves, by market cap.
| # | Token | Price | 24h | 7d | Market cap | Volume 24h |
|---|---|---|---|---|---|---|
| 2872 |  ROME StablecoinROME | $1.00 | — | −0.8% | $1.20M | — |
| 2968 |  Neutrino Index TokenXTN | $0.0156 | — | −0.4% | $1.07M | $3 |
Guides
Waves guides
Blockchain
How to Discover dApps on Waves and Read Rankings CarefullyWaves is a proof-of-stake blockchain with its own wallet, token and app ecosystem, but rankings for its dApps change often and are not always comparable. This guide explains where to find Waves dApps, how to read ranking metrics, and how to check an app before connecting a wallet.
Blockchain
Waves Network Q&A: How the Waves Blockchain Works in 2026Waves is a layer-1 blockchain launched in 2016, known for leased proof-of-stake, the Ride smart contract language and simple token issuance. This Q&A covers how it works, what to verify yourself and where to look for current information.
Token
WAVES Token Volume Jumped 276% in 30 Days: What It MeansA 276% rise in trading volume over 30 days is a claim about activity, not proof of value. This guide explains what the WAVES token and Waves Ducks game are, how volume is measured, and how to check a spike like this yourself before drawing conclusions.
Blockchain
Blockchain Examples and How They WorkLearn how blockchains record and verify transactions, how consensus keeps a shared ledger in sync, and how Bitcoin, Ethereum and other networks put the technology to work. See practical examples, key trade-offs and ways to assess whether a blockchain is a good fit.
Blockchain
Blockchain for Data: Uses, Limits and How It WorksBlockchains can create shared records that are difficult to alter, but they are not a general-purpose replacement for databases or file storage. Learn what belongs on-chain, how blockchains connect to outside data, and when the trade-offs make sense.
Blockchain
Casper Network and CSPR: A Practical Guide for 2026Casper Network is a proof-of-stake blockchain, and CSPR is its native token. This guide explains the network’s purpose, how CSPR is used, and what to check before staking or transacting.
Waves FAQs
What is Waves?
Waves is a blockchain platform for launching tokens and decentralized applications. It uses a leased proof-of-stake system and its own smart contract language rather than running the Ethereum Virtual Machine. WAVES is the native token.
Is Waves compatible with Ethereum?
No, Waves is not an EVM chain. Its contracts are written in Ride, and its wallets and tooling differ from those on Ethereum. To move assets between Waves and EVM networks you generally need a bridge such as WavesBridge or PepeTeam Bridge.
What is the WAVES token used for?
WAVES is used to pay network fees and for staking, including leasing it to nodes under leased proof-of-stake. It also serves as a base asset in many Waves trading pools and lending markets. Liquid staking options such as PepeTeam sWAVES let holders keep a tradable token while staking.
Which are the main dApps on Waves?
Vires Finance is the largest by value locked, with about $6.9M of the roughly $7.7M DeFi TVL on the chain at the time of writing. Puzzle Swap and Swop are the main exchanges, and PepeTeam Bridge and WavesBridge cover cross-chain transfers. Figures change often, so check the live numbers on each page.
Can I swap, lend and borrow on Waves?
Yes, Puzzle Swap and Swop are both AMM-style exchanges on Waves, and Vires Finance offers lending and borrowing. Their pools are small compared with major chains, so liquidity can be thin and price impact larger on bigger trades.
What are the risks of using Waves dApps?
Risks include smart contract bugs, thin liquidity and bridge risk, since bridges hold locked assets and have been common targets for exploits. Only use funds you can afford to lose, check each protocol's documentation, and start with small amounts. Nothing on this page is financial advice.
What is the largest dApp on Waves by TVL?
Vires Finance is the largest dApp on Waves by total value locked, with $6.54M across all the chains it supports. It is followed by Waves Exchange ($4.24M) and PepeTeam Bridge ($679K). TVL figures come from DefiLlama and change daily.
Which dApp on Waves has the highest DappsAtlas score?
Vires Finance has the highest score at 5.8/10, ahead of PepeTeam Bridge (5.8) and Swop (5.8). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.
How many dApps are on Waves?
DappsAtlas tracks 10 dApps on Waves. Of these, 10 have a full review and 10 report value locked, $12.8M in total, counting value on every chain they support.
What are the most common types of dApps on Waves?
Which dApps on Waves grew the most this week?
Among dApps with at least $1M locked, Waves Exchange had the biggest 7-day TVL gain (+1.5%) and Vires Finance the biggest drop (−3.3%). Combined TVL moved −0.7% over the same seven days.
What is the average score for dApps on Waves?
The 5 rated dApps on Waves average 5.7 out of 10. Of these, 0 score 8 or higher and 0 score below 5.