Xyra Labs

Xyra Labs is a multi-chain decentralized finance platform founded in 2021 and rebranded from Kana Labs in October 2025. Its product suite brings together perpetual futures trading, cross-chain token swaps, gasless transaction infrastructure, and developer APIs under a single framework designed to match the execution quality of centralized exchanges. The platform operates across Solana, Aptos, Sui, Ethereum, Polygon, BNB Chain, Arbitrum, Avalanche, and additional networks — nine or more chains in total — aggregating liquidity and routing transactions without requiring users to leave a unified interface.

How It Works

Xyra Labs operates three interconnected product lines that address different layers of the multi-chain DeFi stack.

Xyra Perps is a fully on-chain Central Limit Order Book perpetual futures platform, launched in Q2 2025. Unlike AMM-based perpetuals that rely on price oracles and liquidity pools, the CLOB model matches buyers and sellers directly through a live order book, enabling tighter spreads and more predictable fills — features common on centralized venues but rare in decentralized settings. The platform supports Hedge Mode, which lets traders hold simultaneous long and short positions on the same asset, a function previously limited to centralized exchanges. Within its first two months, Xyra Perps crossed $100 million in trading volume; by year-end 2025 it had surpassed $2 billion, with 12,000-plus unique users and roughly 175,000 daily trades at peak activity.

The DEX Aggregator routes token swaps across multiple chains and liquidity sources using split-routing algorithms that identify CEX-comparable prices with minimal slippage. The aggregator has processed over $8 billion in volume, with the swap platform nearly tripling from $2.9 billion in 2024 to $8 billion by Q4 2025. Supported chains include Solana, where users can access cross-chain liquidity that spans EVM and non-EVM networks from a single interface.

Kana Paymaster is a gasless transaction infrastructure service for Move-VM-based chains, primarily Aptos. It sponsors transaction fees on behalf of users, enabling dApps to offer one-click experiences without requiring users to hold native tokens for gas. By end of 2025, the Paymaster had processed 396 million sponsored transactions — 300 million during the year alone — serving 15 or more dApps with peak daily activity of 2 million transactions. At its height the service reached 3.7 million monthly active users and 1.25 million daily active users, representing approximately 30% of total Aptos network activity.

Account abstraction features complement the paymaster, offering social login options and sponsored transaction flows that reduce the technical friction typically associated with non-custodial wallets.

Developer Infrastructure

Xyra Labs makes its infrastructure available to builders through a JavaScript and TypeScript SDK and enterprise-grade REST APIs targeting sub-100ms response times and 99.9% uptime. The APIs expose swap routing, liquidity aggregation, and cross-chain bridging capabilities, allowing teams to embed Xyra's infrastructure in their own applications without rebuilding underlying logic.

Solana Ecosystem Role

On Solana, Xyra Labs functions primarily as a cross-chain liquidity bridge and swap aggregator, connecting Solana-native assets to liquidity pools and markets on Aptos, Sui, and EVM chains. The aggregator's split-routing engine sources prices across Solana DEX venues and routes outbound cross-chain swaps where better liquidity exists on other networks. Future product iterations, including Xyra Perps V2, are expected to expand multi-chain trading capabilities further.

Security and Audits

The platform completed an independent smart contract audit conducted by Movebit, a security firm specializing in Move-VM and multi-chain protocols. This audit covers the core Perps platform and paymaster infrastructure.

Team and Funding

The founding team brings combined experience across traditional finance and over a decade in blockchain development. The company raised a $2 million seed round in November 2023 from MARBLEX Corp (a subsidiary of NetMarble), Nexus One, Klaytn, and Gate Labs. Apollo Capital participated in a subsequent funding round announced in June 2026.

For 2025, Xyra Labs reported $600,000 in retail DeFi revenue, a 40% increase from $390,000 in 2024, driven by swap fee growth and Perps adoption. Upcoming releases include Xyra Perps V2 with a redesigned order book interface, copy trading functionality, and vault-based yield products.

Metrics at a Glance

• $10 billion-plus in cumulative trading volume across all products
• $8 billion-plus through the DEX aggregator
• $2 billion-plus in perpetuals volume since Q2 2025 launch
• 396 million total gasless transactions via Kana Paymaster
• 12,000-plus unique Perps users; 175,000 peak daily trades
• $600,000 revenue in 2025 (40% year-over-year growth)
• Security audit completed by Movebit