what's wasabi protocol?
Wasabi Protocol is a decentralized leverage trading platform built on the Base blockchain, enabling users to trade and stake various cryptocurrencies with up to 5x leverage while earning native yield from on-chain trading activity. The protocol focuses on providing accessible derivatives infrastructure for high-growth and long-tail assets, allowing traders to long, short, and earn yields with minimal risk through fully collateralized perpetuals and staking mechanisms. Key features include a points system for user rewards, community boosts for variable APYs, and robust stability during market volatility, as demonstrated by handling $19B in market-wide liquidations with minimal bad debt. It integrates with ecosystems like Blast and supports tokens such as $BLAST, $ME, and others for staking and trading. The platform also runs airdrop campaigns, such as distributing $WASABI tokens via partnerships like @arbuschirps, to incentivize participation. Overall, Wasabi aims to combine leverage trading with real yield generation to enhance DeFi accessibility and profitability.
Wasabi Protocol integrated Prop AMM with OpenOcean, a multi-chain DEX aggregator.
Integrated Prop AMM with OpenOcean, a DEX aggregator that consolidates liquidity sources across multiple blockchains.
Has zero exposure to the Drift exploit, with all positions, markets, and Earn vaults unaffected and operating normally.
Featured in Redacted Research's Machines & Money article as one of four DeFi protocols offering opportunities to earn on or borrow against xStocks' tokenized shares, alongside Raydium, Byreal, and Morpho.
Offers 1.98% APY on cbBTC deposits.
Launched "Size Games" trading competition on Base from March 18-25, 2026, with $10,000 USDC in prizes for trading BTC, ETH, or SOL by volume with up to 20x leverage.
Listed PreStocks tokens for Anthropic AI, SpaceX, and OpenAI for leveraged trading (long and short positions) on the PreStocks platform.
Integrated Prop AMM into Fibrous Finance, a multi-chain DEX aggregator, enabling routing through Wasabi Protocol's liquidity pools.
Achieved a vault yield of 7.29% APY for USDC on Solana from trading fees.
Achieved a vault yield of 4.95% APY for USDC on Base from trading fees.
Achieved a vault yield of 3.11% APY for ETH on Base from trading fees.
Integrated Prop AMM into KyberNetwork, enabling KyberSwap to aggregate Wasabi Protocol's liquidity for swap routing.
Prop AMM reached $100M onchain volume on Base using ETH quotes within 3 weeks.
Deployed Prop AMM on Base chain with 0xProject, offering no impermanent loss and CEX-level spreads, alongside Tessera and ElfomoFi.
Now offers 20x leverage trading on BTC and ETH on Base, and SOL on Solana.
Offers 200+ markets on Base with up to 10x leverage, increasing maximum leverage on $JLP from 10x to 15x.
Settled over $50 million in volume since November 18th, 2025.
Offers leveraged trading on MOLTEN token with up to 10x leverage, being the first platform to provide leverage for this asset.
Added $LEMON trading with 3x leverage, offering the only leveraged trading venue for Lemon Markets token.
Hosts xStocks vaults, reaching $9M total onchain volume, with NVDAx, CRCLx, QQQx, TSLAx, SPYx as the five most-traded tokens this week.
Became the first platform to offer leverage trading on KellyClaude token.
Launched Wasabi Earn offering 19% yield on tokenized gold.
Listed ZAUTH token with up to 3x leverage trading available.
Added BIRB token trading with up to 5x leverage on the platform.
Integrated with Solana Mobile to become the first venue offering asset-backed leverage for the Solana Mobile ecosystem.
Added ELSA token with up to 3x leverage trading support.
Added ButtCoin ($Buttcoin) as a tradeable asset with up to 3x leverage on 2026-01-20.
Listed $FUN token from @footballdotfun for trading with up to 3x leverage.
Generated over 150,000 media creations through its AI media proliferation engine.
Released GIF generation feature for its AI media engine.
Has over 92% of token supply controlled by the team.
Selected as a finalist for "most viral campaign" award at Solana Breakpoint conference.
Holds 16,698,682 NIGGABUTT tokens deposited in the protocol earning interest as of January 11, 2026.
Added $FISH token with up to 3x leverage trading available on the platform.
Launched wasadotbot, a bot product built by Wasabi Protocol.
Wasabi Protocol's community vault has accumulated over 50.5 million staked tokens, exceeding the initial airdrop amount of 48.265 million tokens.
Rewrote the entire protocol for Solana deployment in January 2025, supporting memecoins and high-velocity trading.
Integrated into Base App, driving 11% week-over-week user growth, and featured as App of the Week by Base on March 12, 2026.
Achieved over $1 billion in originations across 2025 with zero protocol-level security incidents.
Offers auto-compounding yields on USDC (Solana) at 17.53%, USDC (Base) at 10.03%, SOL at 9.25%, and ETH at 5.43%. Achieved a SOL vault yield of 9.52% APY from trading fees.
Experienced a security incident where the X (Twitter) account was compromised through a phishing attack targeting a team member via a third-party application (Buffer), allowing unauthorized posts with malicious links to be published on December 29, 2025, though smart contracts and user funds remained secure.
Conducting a $BOT token snapshot for allocation to Wasabi Points Holders, $VIRTUAL Stakers, and Butler_Agent users, with $BOT explicitly stated as NOT being the Wasabi governance token.
Listed HUMA token with up to 3x leverage trading available.
Listed $FUKU token with up to 2x leverage trading available.
Added $RUSSELL token as a tradeable asset with up to 3x leverage available.
Closes all Blast markets, with all active positions on Blast to be automatically closed on December 26, 2025 at 3PM EST.
Completed $IR token distribution to iBGT loopers, with tokens sent directly to eligible wallets without requiring manual claims.
Added NEAR token with up to 5x leverage trading capability.
Added TRX trading with up to 6x leverage.
Listed OMFG token with up to 3x leverage trading available.
$BLKH token from @blkh_io launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
Community incentive program goes live offering real yield on $GBOY deposits.
$GBOY token from @neukoai launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$wETH (wrapped Ethereum) launches on the platform with up to 10x leverage trading and yield earning from real onchain activity.
$cbDOGE (Coinbase-wrapped Dogecoin) launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$CMC20 index token from CoinMarketCap launches on the platform with 3x leverage trading and yield earning, providing weighted exposure to the top 20 crypto assets and powered by Reserve Protocol.
$FAN token from @fan360games launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
Integrated with xStocks for leveraged perpetual trading of tokenized stocks on Solana.
$WET token from @humidifi launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$AIGMX staking vault launches with rewards funded by $AIGMX buybacks from ACP revenue and other streams, accessible through Virtuals page or directly on the platform.
$67 token launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$Wojak token from @WojakOnX launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
Wasabi supports the ICM raise for useBackroom and fan360games, offering earning and trading capabilities directly onchain for these projects.
$MACHINES token from machines_cash launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$WhiteWhale depositors earn 31.4% APY through a new Community Boost launched by WhiteWhale CTO.
$WhiteWhale token launches on the platform with up to 2x leverage trading and yield earning from real onchain activity.
Dealernodeapp stakes buyback and team tokens in Wasabi Vault to strengthen liquidity before their DEX listing.
$ST token from the_small_thing launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$CYPR token from Cypher_HQ_ launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$DONUT token from Glaze_Corp launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$RECALL token from recallnet launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
Trading competition 'The First Based Games' concludes with top 25 traders receiving rewards in $USDC, $OP, and Wasabi Points for driving platform volumes.
$REPPO token launches on the platform with 57% APY yield opportunities through the Earn Vault, with 1.23% of supply locked and token price up 247%.
$SURGE token from Surgexyz launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$ORCA token launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
The protocol deploys on multichain infrastructure including mainnet and Solana.
$PIPPIN token launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$PING token launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$PNKSTR token launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
In November, $REPPO, $LURKY, $EDEL, $ZOOF tokens launch on Base with spot leverage and yield earning features.
$TNSR and $ORE tokens launch on the platform in November and are live for trading and earning, bringing the total available markets to over 100 Internet Capital Markets.
Traders can now long, short, and earn on stock tokens $NVDAx, $TSLAx, $AAPLx, $METAx, $GOOGLx, $MSTRx, $SPYx, $QQQx, and $GLDx on Solana, with the platform accounting for 45% of $METAx volume and 13.4% of total onchain xStocks volume.
$JESSE token launches on the platform with 179% APY for holders, described as the first with additional tokens planned to follow soon.
$BL token from ButlerLiquid launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
The platform runs a trading competition where every trade competes for a share of 3M $OP + USDC rewards for trading the Base ecosystem.
$MON token from Monad launches on the platform with up to 5x leverage trading and yield earning from real onchain activity, bringing Monad assets to Solana.
$REPPO token from Repponetwork launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$NUB token from nubcat launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$RSC token from ResearchHub launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$TOWNS token from TownsProtocol launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
Launches a Base mini app consolidating trading, leverage, yield, and simple swaps into one unified onchain experience.
$ALTT token from Altcoinist launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$docker token from dockerxyz launches on the platform with up to 2x leverage trading and yield earning from real onchain activity.
$hayden token launches on the platform with up to 2x leverage trading and yield earning from real onchain activity.
$JESSE launches with 3x leverage as the first creator coin on the platform, introducing a new category for trading personal creator tokens alongside project tokens.
$CRT token launches on the platform with a new looping market feature that allows users to apply leverage to the token's built-in yield.
$LURKY token from TeamLurky launches on the platform with up to 2x leverage trading and yield earning from real onchain activity.
$TNSR token from Tensor launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$PRXVT token from PRXVTai launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$FLAY token from Flaunch launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.
$TRUST token from 0xIntuition launches on the platform with up to 3x leverage trading and yield earning from real onchain activity.