Venues / Reya

Is Reya Network legit and safe?

Reya is a real, operating perp dex. It is non-custodial, KYC: none, and is backed by Framework, Coinbase Ventures, Wintermute Ventures, Selini Capital, Amber Group, Brevan Howard Digital Assets and Leadblock Ventures, plus angels including Stani of Aave/Lens, David and Ryan of Bankless, and Kain of Synthetix/Infinex. We found no reported hacks or fund losses in our sources. Legit is not the same as low-risk: the coins traded on it can still go to zero.

The checklist

Custody: who holds your money

Orders are matched off-chain and every trade is validated and settled on-chain on Reya Network; collateral is held by Reya's smart contracts, not by an operator. Reya Network currently runs on a forked, customised Arbitrum Orbit stack and is moving in stages to a based zk rollup on Ethereum.

Who backs Reya

• Framework, Coinbase Ventures, Wintermute Ventures, Selini Capital, Amber Group, Brevan Howard Digital Assets and Leadblock Ventures, plus angels including Stani of Aave/Lens, David and Ryan of Bankless, and Kain of Synthetix/Infinex — $12,000,000 source

Incidents

No reported hacks, exploits or frozen withdrawals in the sources we checked.

Real downsides

• US persons are barred by the Terms & Conditions, which also prohibit using a VPN to get around the geofence.
• The v2 app admits new wallets from a waitlist, and the order book only went live on mainnet on September 28, 2026.
• Maximum leverage is 40x on BTC and BNB, 25x on ETH, SOL, SPY and QQQ, and 5x to 15x on single stocks.
• Maker rebates are planned but not live yet.

Can you use it where you live?

Reya Labs' Terms & Conditions (last updated 4 April 2024) say the Services 'were not developed for, and are not available to persons or entities who reside in, are located in, are incorporated in, or have a registered office or principal place of business in the United States of America', and bar use 'from a jurisdiction (including an IP address in a jurisdiction)' Reya prohibits, 'including the United States of America'. They also list restricted jurisdictions including Algeria, Bangladesh, Bolivia, Belarus, Crimea, Cuba, Donetsk, DR Congo, Egypt, Iran, Iraq, Ivory Coast, Liberia, Libya, Luhansk, Mali, Morocco, Myanmar, Nepal, North Korea, Oman, Qatar, Somalia, Sudan, Syria, Tunisia, Venezuela, Yemen and Zimbabwe, and prohibit VPNs used to get around the geofence. The UK and EU are not named; Reya does not state they are supported. (source)

We report what the venue's own terms say. Don't use a VPN to get around restrictions; venues can freeze accounts that do.

How to use Reya without getting scammed

• Only open reya.xyz — fake lookalike sites and "support" DMs are the most common way people lose funds on any trading venue.
• Never share a seed phrase or private key. No real support agent will ask for one.
• A referral code only changes your fee and who gets a share of it. It never needs your keys.
• Treat every new memecoin as able to go to zero. A legit venue does not make the coins on it safe.

Comparing options? See the full Reya sheet or Lighter, Paradex, trade.xyz.

More on Reya Network: Overview · Referral code · Fees · Is it legit? · News · Alternatives · US alternatives · Available in the US? · KYC required? · Mobile app? · Custodial? · Supported chains