https://fenixfinance.io

Fenix Finance — What we built for BlastFenix was the #1 MetaDEX on Blast. $650M cumulative volume, ~$23M peak TVL, 783 veFNX lockers. Sunsetted — the recap of what we built and how we honored our community.Fenix Finance — What we built for BlastFenix Finance · A RecapWe built Blast's #1 MetaDEX.2024 — 2025Scroll to read the storyBy the numbersWhat we shipped.The cumulative footprint of Fenix Finance on Blast.Cumulative Volume$650Macross all swap pools~$23MPeak TVL$434.6KCumulative Swap Fees783veFNX LockersVerified on Dune · @x3researchThe thesisWhy we chose Blast.Deployed onWe deployed on Blast because of native yield — the first L2 where every ETH and stablecoin deposit earned a baseline return from ETH staking and Sky (formerly Maker).As a DEX, that meant we weren't just splitting swap fees with LPs — we were stacking DEX revenue on top of DeFi yield. A structurally better economics layer than any other chain.We believed native yield would become the default. We were early, and we built for it.What we shipped firstInnovations.4 YRIndustry standard→6 MOFenixThe 6-month lockBreaking the 4-year lock.Every ve-token protocol since Curve demanded 4-year locks. We argued that was theater — nobody knows what DeFi looks like in 4 years. We shipped the first 6-month lock: short enough to be honest, long enough to mean something.The shorter window also meant voting power decayed faster — which forced lockers to actively re-lock, making Fenix one of the highest-locking-ratio protocols in DeFi.The RISE programHundreds of thousands in incentives.The RISE program distributed hundreds of thousands of dollars in Blast incentives directly to veFNX lockers — paying the chain's yield back to the people who showed up.The captureWhile Blast fell,we built.The Blast team stopped supporting protocols. The chain lost momentum. The farmers left.We kept building because we believed in the native yield thesis. The principle was sound. The execution was ours. We bet that if we kept shipping, something durable would emerge over the long term.It didn't. But while we waited, Fenix was the last protocol still working on Blast.The endWhy it ended.Blast pivoted from a DeFi L2 to a mobile application, and never gained traction there.We had a direct conversation with Pacman, saw where Blast was headed, and made the call: stop working on Fenix and start the next chapter.That next chapter became nest.View on X · @SatsyxbtGiving backveFNX lockers got a stake in our new company, nest.Most failed crypto projects walk away. We chose to honor the people who believed in us.nest allocation to veFNX lockers:host{display:inline-block;direction:ltr;white-space:nowrap;line-height:1}span{display:inline-block}:host([data-will-change]) span{will-change:transform}.number,.digit{padding:round(nearest, calc(var(--number-flow-mask-height, 0.25em) / 2), 1px) 0}.symbol{white-space:pre}$0:where(number-flow-react){line-height:1}number-flow-react > span{font-kerning:none;display:inline-block;padding:calc(round(nearest, calc(var(--number-flow-mask-height, 0.25em) / 2), 1px) * 2) 0}$05% of nest token supply, at today's price:host{display:inline-block;direction:ltr;white-space:nowrap;line-height:1}span{display:inline-block}:host([data-will-change]) span{will-change:transform}.number,.digit{padding:round(nearest, calc(var(--number-flow-mask-height, 0.25em) / 2), 1px) 0}.symbol{white-space:pre}$1,000,000:where(number-flow-react){line-height:1}number-flow-react > span{font-kerning:none;display:inline-block;padding:calc(round(nearest, calc(var(--number-flow-mask-height, 0.25em) / 2), 1px) * 2) 0}$1,000,000 at distributionEvery veFNX locker received a direct allocation in nest, the new protocol from Rise Labs.Distributed at launch · May 2026The rebirth2024 — 2025 · BlastFenix2026 — · HyperliquidnestFenix became nest.Inside Fenix, we built a product called nest — a yield manager where users deposited $FNX and we ran the optimized strategy for them.That product became nest exchange, the new protocol from Rise Labs.VisitBuilt byRise Labs2024 — 2025·Thanks to the 783 lockers who locked $FNX.Historical recap. Token values shown reflect current on-chain data and are for informational purposes only. Nothing on this page is an offer, solicitation, or financial advice.enen1787479927https://fenixfinance.io

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