DEXes · Review
ActiveDeversifi Review 2026: The Ethereum Layer 2 DEX Now Called rhino.fi
Deversifi was a self-custodial Ethereum layer 2 exchange that has since rebranded to rhino.fi and widened into a multi-chain DeFi gateway. Anyone researching it should look at the current rhino.fi product rather than the old name.
By the DappsAtlas editorial team · Updated
DappsAtlas score
—/10
Not rated
Our verdict on Deversifi
Deversifi is best understood as the earlier name of rhino.fi, a self-custodial Ethereum layer 2 exchange that grew into a multi-chain DeFi gateway. Its main strength is combining fast trading with user custody. The main caveat is that the brand is retired and fees, audits and team details are not published in the material reviewed. Anyone interested should evaluate the current rhino.fi product directly.
Score breakdown
How Deversifi scores
- Security
- n/a
- Ease of use
- n/a
- Fees
- n/a
- Features
- 6.5/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Deversifi?
Deversifi was a decentralized trading platform on Ethereum layer 2. It aimed to give traders centralized-exchange speed while keeping assets in their own custody. A 2019 news item reports a $5 million raise from investors including ParaFi, Defiance Capital and Lightspeed Venture Partners.
The team has since announced that DeversiFi is no more and that it now operates as rhino.fi. The new positioning is a layer 2 gateway to multi-chain DeFi rather than a standalone DEX. One source describes it as a self-custodial layer 2 wallet with access to 500+ tokens.
The project's token, DVF, continues under the rhino.fi name.
How Deversifi works
Deversifi was built as a decentralized exchange on an Ethereum layer 2. A layer 2 processes transactions off the main Ethereum chain and settles results back to it, which lowers cost and speeds up trading. Users hold their own assets in a self-custodial account rather than on an exchange balance.
One 2021 analysis says it used real-time order management so trading felt closer to a centralized exchange. That means orders are matched quickly, while the user keeps control of keys.
With the rebrand to rhino.fi, the product is described as a gateway between layer 2 and multi-chain DeFi. Users move assets in, trade or swap them, and access other DeFi opportunities from one place.
6 features
Key features
01
Self-custodial trading
Users keep control of their funds rather than depositing them with a central operator. Third-party write-ups describe it as a self-managed trading platform.
02
Ethereum layer 2
The exchange ran on an Ethereum layer 2 to lower costs and speed up trades compared with trading directly on mainnet.
03
Real-time order management
A 2021 deep dive says it used real-time order management to get closer to centralized exchange performance than most DEXs.
04
Swap, send and invest
The platform let users swap, send and invest from one interface, aimed at making DeFi easier to use.
05
Broad token access
After the rebrand to rhino.fi, one source describes a self-custodial layer 2 wallet with access to 500+ tokens.
06
Multi-chain gateway
The rebrand positions the product as a layer 2 gateway to DeFi across several chains, not only a DEX.
Pros and cons
What we like
- Self-custodial design means users keep control of their assets
- Layer 2 approach aims for lower costs and faster trades than mainnet
- Backed by a funding round that included ParaFi, Defiance Capital and Lightspeed Venture Partners
- Evolved from a single DEX into a multi-chain DeFi gateway
- Reported access to 500+ tokens after the rebrand
Watch out for
- The Deversifi name has been retired, so the old brand is no longer the product to look for
- Fee schedule, audit reports and team details are not published in the material reviewed
- Layer 2 and bridging add smart-contract and bridge risk on top of Ethereum itself
- Order book liquidity on a self-custodial exchange can be thinner than on large centralized exchanges
- The product's scope has changed since the rebrand, so older guides may be out of date
Deversifi fees
Fees are not published in the material reviewed, so no trading, withdrawal or bridging figures can be given here. Costs on a layer 2 exchange typically include a trading fee plus network or bridging charges when moving assets in and out.
Before using the platform, check the current rhino.fi app, where fee details would be shown at the point of trading or transfer.
Is Deversifi safe?
The platform is described as self-custodial, so the operator does not hold user funds in the way a centralized exchange does. The main risks are smart-contract and bridge risk, plus user-side risks such as phishing and lost keys. Audit reports and incident history are not covered in the material reviewed, so check the current rhino.fi documentation for them.
Licensing or regulatory status is not stated in the material reviewed. Readers should check whether using the service is permitted where they live.
6 steps
How to get started with Deversifi
- 1
Confirm you are using the current rhino.fi site, since Deversifi is its former name
- 2
Set up a self-custodial wallet and keep your seed phrase offline
- 3
Check which networks and tokens the platform currently supports
- 4
Review the fee details shown in the app before depositing
- 5
Start with a small test deposit and withdrawal
- 6
Check whether the service is available in your jurisdiction
Who Deversifi is for
It suits DeFi users who want to trade from their own wallet on a layer 2 and are comfortable with bridging and self-custody. It is less suitable for people who want an account-based exchange with customer support and fiat on-ramps.
Deversifi FAQs
What is Deversifi?
Deversifi was a trading platform built on Ethereum layer 2. It let users swap, send and invest in tokens from a self-custodial account instead of handing funds to a centralized exchange.
Did Deversifi rebrand?
Yes. The team announced that DeversiFi is no more and that it now operates as rhino.fi. The change reflects a move from being mainly a DEX to a layer 2 gateway for multi-chain DeFi.
What is the DVF token?
The token, ticker DVF, is now listed under the rhino.fi name. A token sale page describes rhino.fi as a multi-chain platform that brings DeFi opportunities together in one place.
Is Deversifi self-custodial?
It is described as self-custodial, meaning users keep control of their keys and assets. That removes exchange custody risk, but it does not remove smart-contract, bridge or user-error risk.
What does Deversifi charge?
Fees are not stated in the material reviewed. Check the current rhino.fi interface for trading, withdrawal and bridging costs before moving funds.
Who funded Deversifi?
A 2019 news item reports a $5 million raise from investors including ParaFi, Defiance Capital and Lightspeed Venture Partners. Later funding details are not covered here.
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Guides
Guides about Deversifi
DeFi
DeversiFi Gas-Free Trading Review: What CEX Users Should KnowDeversiFi pitched gas-free trading to users coming from centralized exchanges. This review explains how that model worked, what the rebrand to rhino.fi changes, and what to check before using any gas-free trading claim.
How we checked
Sources
No public sources were recorded for this review.
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