DeFi · Category ranking
Best Synthetics dApps in 2026
40 Synthetics dApps ranked by DappsAtlas score and total value locked. Open any row for the full review.
- Listed
- 40
- Reviewed
- 40
- Page
- 1/1
Synthetics are DeFi protocols that issue tokens tracking the price of another asset, such as ETH, BTC, a stablecoin or a fiat currency. Users lock collateral or add liquidity, and smart contracts mint a synthetic token against it. The category also covers loan-style products and newer ideas such as tokenized loyalty or airdrop points. This list is about financial tools, not games of chance. Anyone considering gambling-related crypto products must be 18+ (21+ where required) and should check that online gambling is legal where they live.
Most of these protocols earn money from fees. Depending on the design, those can include minting or redemption fees, a cut of yield on deposited collateral, swap fees on liquidity pools, or value that accrues to a governance token. Collateral is usually held in smart contracts, and price feeds called oracles keep each synthetic close to its target. If collateral drops too far, positions can be liquidated, which keeps the system backed. Some protocols also pay token rewards to minters, as Youves does with YOU.
When comparing options, start with the mechanism. Alchemix V3 focuses on self-repaying loans, Metronome Synth on multi-collateral msUSD, msETH and msBTC, and Usual ETH0 on ETH exposure backed by wstETH. Then compare TVL, supported chains, collateral rules, audits, and whether the project is still active. Smaller or older entries such as Yam Finance, Harbor and Linear Finance carry extra risk, and Linear has announced its closure. Read each protocol's documentation before connecting a wallet.
Synthetics dApps at a glance
- Tracked
- 40
- Reviewed
- 40
- Total TVL
- $68.3M
- Avg. score
- 5.0/10
Largest by TVL
- 1
Alchemix V3$38.3M
- 2
Youves$16.7M
- 3
Metronome Synth$9.51M
- 4
Usual ETH0$2.05M
- 5
Wrap Protocol$525K
Highest rated
- 1
- 2
Alchemix V26.5
- 3
- 4
- 5
Metronome V15.5
| Chains | |||||
|---|---|---|---|---|---|
| 1 | Alchemix V3Reviewed | Ethereum, Optimism +2 | $38.3M | +0.8% | 7.2 |
| 2 | Alchemix V2Reviewed | Ethereum, Optimism +2 | $78.9K | −0.1% | 6.5 |
| 3 | Metronome SynthReviewed | Ethereum, Optimism +1 | $9.51M | −0.7% | 6.2 |
| 4 | Usual ETH0Reviewed | Ethereum | $2.05M | −0.7% | 6.0 |
| 5 | Metronome V1Reviewed | Ethereum | $123K | −0.5% | 5.5 |
| 6 | Jarvis NetworkReviewed | Polygon, BNB Chain +5 | $82.3K | +0.1% | 5.5 |
| 7 | Rumpel LabsReviewed | Ethereum, Hyperliquid L1 | $45.8K | −5.6% | 5.2 |
| 8 | KopioReviewed | Arbitrum | — | — | 5.0 |
| 9 | HarborReviewed | MegaETH, Ethereum | $1 | +0.6% | 4.8 |
| 10 | Yam FinanceReviewed | Ethereum | $116K | +0.1% | 4.5 |
| 11 | Mobius FinanceReviewed | Polygon | $36.2K | −2.8% | 4.5 |
| 12 | Mobius FinanceReviewed | Polygon | $36.2K | −2.8% | 4.5 |
| 13 | MirrorReviewed | Terra | — | — | 3.0 |
| 14 | Linear FinanceReviewed | BNB Chain | $4.83K | −0.1% | 2.0 |
| 15 | YouvesReviewed | Tezos | $16.7M | −0.5% | — |
| 16 | Wrap ProtocolReviewed | Ethereum, Tezos | $525K | −2.0% | — |
| 17 | ScientixReviewed | BNB Chain | $367K | +0.3% | — |
| 18 | TwindexReviewed | BNB Chain | $127K | −1.1% | — |
| 19 | ThetaCashReviewed | Theta | $98.1K | −6.1% | — |
| 20 | Taiga AcalaReviewed | — | $84.6K | −1.1% | — |
| 21 | Duet ProtocolReviewed | Arbitrum, BNB Chain | $36.2K | +0.8% | — |
| 22 | Crafting FinanceReviewed | Aurora, Ethereum | $16.6K | −12.2% | — |
| 23 | ION DAOReviewed | Osmosis | $6.91K | −85.4% | — |
| 24 | Taiga KaruraReviewed | Kusama | $6.60K | −3.8% | — |
| 25 | ISSUAAReviewed | Scroll | $336 | −11.4% | — |
| 26 | SynthExReviewed | Arbitrum | $6 | −0.4% | — |
| 27 | ArganoReviewed | Polygon | $4 | +3.9% | — |
| 28 | Arable ProtocolReviewed | Avalanche | $0 | — | — |
| 29 | MainstreetReviewed | — | — | — | — |
| 30 | CryptexReviewed | — | — | — | — |
| 31 | OmnicompReviewed | — | — | — | — |
| 32 | KreskoReviewed | — | — | — | — |
| 33 | Zest ProtocolReviewed | Fantom | — | — | — |
| 34 | HashlandReviewed | — | — | — | — |
| 35 | SynthetifyReviewed | Solana | — | — | — |
| 36 | Arable FinanceReviewed | — | — | — | — |
| 37 | Dafi ProtocolReviewed | Ethereum | — | — | — |
| 38 | Oikos CashReviewed | Tron | — | — | — |
| 39 | Peri FinanceReviewed | Polkadot, BNB Chain | — | — | — |
| 40 | SynthetixReviewed | Ethereum | — | — | — |
Ranked by DappsAtlas score, then total value locked. Click a column to re-sort this page. TVL data via DefiLlama.
Where they run
Synthetics dApps by chain
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Frequently asked questions
What is a synthetic asset in DeFi?
A synthetic asset is a token that tracks the price of something else, such as ETH, BTC, a fiat currency or a stablecoin, without being that asset itself. Smart contracts hold collateral and use price feeds to keep the token's value in line with its target. Holders get price exposure without owning the underlying asset directly.
How do self-repaying loans like Alchemix work?
Alchemix lets you deposit collateral and borrow a synthetic token against it. The deposit earns yield, and that yield is used to pay down the loan over time. Alchemix V3 lists loans of up to 90% LTV on ETH or USDC. Your position can still carry risk from smart contracts, the underlying yield source and market conditions.
Do I need to overcollateralize to mint synthetic tokens?
Most protocols require you to lock more collateral than the value of the synthetic tokens you mint. If the collateral value falls too far, part of your position can be liquidated. Check each protocol's collateral ratio and liquidation rules before minting, and keep a buffer.
What are the main risks of synthetics protocols?
Yes. Risks include smart-contract bugs, oracle or price-feed errors, a synthetic token losing its peg, liquidation, and thin liquidity. Small or inactive protocols add further risk. Linear Finance, for example, announced its closure in March 2025. Only use money you can afford to lose.
Are all synthetics protocols about the same size?
Not at all. At the time of writing, Alchemix V3 holds about $40.7M in TVL, Youves about $16.7M and Metronome Synth about $10.3M. Several others hold well under $1M, and Harbor shows about $1. Low TVL does not prove a protocol is unsafe, but it can mean less liquidity and less usage.
Should I use older versions such as Alchemix V2 or Metronome V1?
No. Alchemix V3 has superseded V2, and Metronome Synth is a separate protocol from Metronome V1. Check which version you are connecting to, and look at current TVL and activity before depositing into an older one.
What is the largest synthetics dApp by TVL?
Alchemix V3 is the largest synthetics dApp by total value locked, with $38.3M. It is followed by Youves ($16.7M) and Metronome Synth ($9.51M). TVL figures come from DefiLlama and change daily.
Which synthetics dApp has the highest DappsAtlas score?
Alchemix V3 has the highest score at 7.2/10, ahead of Alchemix V2 (6.5) and Metronome Synth (6.2). Scores weigh security, ease of use, fees and features, and are based only on facts we could verify.
How many synthetics dApps does DappsAtlas track?
DappsAtlas tracks 40 synthetics dApps. Of these, 40 have a full review and 25 report value locked, $68.3M in total.
What chains do most synthetics dApps run on?
Which synthetics dApps grew the most this week?
Among synthetics dApps with at least $1M locked, Alchemix V3 had the biggest 7-day TVL gain (+0.8%) and Usual ETH0 the biggest drop (−0.7%). Combined TVL moved +0.1% over the same seven days.
What is the average score for synthetics dApps?
The 14 rated synthetics dApps average 5.0 out of 10. Of these, 0 score 8 or higher and 6 score below 5.