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PHUX Review 2026: Balancer V2 Fork DEX on PulseChain

PHUX is a Balancer V2 fork on PulseChain that offers customizable liquidity pools and swaps. It is a niche DEX with modest TVL, best suited to users already active on PulseChain.

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By the DappsAtlas editorial team · Updated Nov 4, 2026

DappsAtlas score

6.3/10

Mixed

Visit PHUX

Our verdict on PHUX

6.3/10

PHUX suits users already on PulseChain who want Balancer-style pools, including multi-token and custom-weight designs. Its main strength is the proven Balancer V2 model, along with two listed audits. The main caveat is size: TVL of about 746,000 USD means thin liquidity, and public sources leave out fees, team details and audit specifics. Verify those yourself and start small.

Score breakdown

How PHUX scores

Security: 6.0/10
Ease of use: 6.5/10
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 PHUX?

PHUX, short for Pulse & Hex Universe Xchange, is a decentralized exchange and liquidity protocol on PulseChain. It is a fork of Balancer V2, built to give users and projects a flexible way to create and use liquidity pools.

DefiLlama has tracked it since July 2023 and lists it under the DEX category with a PHUX token. TVL is about 746,000 USD, up 5.7 percent over seven days, which makes it a small venue by DEX standards.

Its homepage is minimal, so this review relies mainly on the DefiLlama description and data. Details on fees, team and audits are not included.

How PHUX works

PHUX is an automated market maker. Instead of matching buyers and sellers, it holds tokens in liquidity pools, and traders swap against those pools at prices set by a formula. Liquidity providers deposit tokens and earn a share of trading fees.

As a Balancer V2 fork, it follows the design in which pools can hold more than two tokens and use custom weights, rather than the standard 50/50 pair. The description calls it a programmable liquidity protocol, meaning pools can be configured for different needs.

It runs on PulseChain, and the description also mentions Ethereum. Liquidity providers face impermanent loss when token prices move, and traders face price impact in shallow pools.

6 features

Key features

Balancer V2 fork

PHUX is a fork of Balancer V2, so it reuses a pool design built for flexible liquidity rather than only simple two-token pairs.

Programmable liquidity

The protocol is described as a programmable liquidity protocol that acts as a building block for tailorable liquidity needs.

AMM trading

PHUX works as a decentralized automated market maker, so users swap tokens against pools instead of an order book.

PulseChain focus

The project is built around PulseChain, and DefiLlama tracks its TVL on that chain.

Native PHUX token

DefiLlama lists a PHUX token associated with the protocol.

Listed audits

DefiLlama shows two audits listed for the project, though details are not public.

Pros and cons

What we like

Based on Balancer V2, a well-known pool design that supports flexible and multi-token pools
Native to PulseChain, serving users in that ecosystem
Two audits are listed on DefiLlama
Tracked publicly since July 2023, which gives it a multi-year presence
Has its own PHUX token tied to the protocol

Watch out for

TVL is small, at roughly 746,000 USD, so liquidity can be thin for larger trades
Depends on the PulseChain ecosystem, which carries its own network and regulatory uncertainty
Balancer V2 forks inherit the complexity of weighted and custom pools, which can confuse newcomers
Audit details are not public, only a count of two listed audits
Homepage is minimal, so documentation quality and team information are unverified

PHUX fees

PHUX's fee schedule is not published. In Balancer-style designs, swap fees are generally set per pool and shown in the app, and liquidity providers earn a share of them.

Users also pay PulseChain network gas fees on each transaction. Check the pool's fee and the estimated gas in the interface before confirming a swap or deposit.

Is PHUX safe?

DefiLlama lists two audits for PHUX, but the project does not name the auditors or give results. Forking Balancer V2 reuses established code, but changes made in the fork and the deployment itself can still introduce risk. Read the audit reports before depositing.

As with any AMM, funds in pools are exposed to smart-contract risk, token risk and impermanent loss. Public sources mention no hacks or incidents. The project's regulatory status and team details are not covered, so users should do their own research and only use funds they can afford to lose.

6 steps

How to get started with PHUX

1
Set up a wallet that supports PulseChain and add the network.
2
Fund the wallet with PLS for gas and the tokens you want to trade.
3
Open the official PHUX site and connect your wallet, checking that the address is correct.
4
Review the pool's tokens, weights and swap fee before trading.
5
Start with a small swap to confirm the price and gas cost.
6
If you provide liquidity, read the pool's terms and understand impermanent loss first.

Open PHUX

Who PHUX is for

PHUX is for PulseChain users who want to swap tokens or provide liquidity in Balancer-style pools. It is less suited to traders who need deep liquidity for large orders or to beginners unfamiliar with impermanent loss and multi-token pools.

PHUX FAQs

What is PHUX?

PHUX stands for Pulse & Hex Universe Xchange. It is a decentralized exchange and programmable liquidity protocol forked from Balancer V2 and built for PulseChain.

Which blockchain does PHUX run on?

DefiLlama lists PHUX on PulseChain. The project description also mentions Ethereum, but the tracked TVL data shows only the Pulse chain.

Does PHUX have a token?

Yes. DefiLlama lists a token called PHUX for the protocol. The project does not describe its supply, utility details or governance rights.

Is PHUX audited?

DefiLlama shows two audits listed for PHUX. The project does not name the auditors or the findings, so check the project's own documentation before depositing funds.

What are the fees on PHUX?

The project does not publish fee levels. Swap fees and pool fees in Balancer-style systems are usually set per pool, so check the pool details in the app before trading or providing liquidity.

How is PHUX related to Balancer?

PHUX is a fork of Balancer V2. That means it uses a similar pool design with a shared vault and customizable pools, but it runs separately on PulseChain with its own liquidity and token.

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