GuShiio.com Sonic has led DeFi back to the market again, and its top projects have increased almost 4-10 times in the past week.
Written by: Penny
The popularity of the Meme market has gradually cooled down in recent days. Sonic has led DeFi back to the market again. Its top projects have increased almost 4-10 times in the past week. What are the current projects worthy of attention in Sonic Ecosystem and what projects can be laid out in the future? The author combs them as follows:
Defi Infrastructure
SHADOW
$SHADOW is a native token of Shadow Exchange on Sonic and can be freely exchanged with other currencies (such as Sonic chain universal token $S, USDC.e, x33, etc.). Users can put their SHADOW into the liquidity pool to obtain LP income; they can also exchange SHADOW tokens into xSHADOW at a ratio of 1:1 to obtain pledges or voting incentives.
The initial supply of SHADOW tokens is 3 million tokens, and about 5 million tokens will be issued 10 years later (500 periods), with a maximum supply limit of 10 million tokens.
The market value of $SHADOW has risen from around US$5M to the current US$41.15M in one week, an increase of more than 700%, and the highest market value reaches US$47.21M.$ As the native token of Shadow Exchange, the largest exchange in the Sonic chain, SHADOW has a wide range of application scenarios and is closely related to the prosperity of the entire Sonic ecosystem.
X33
After xSHADOW makes a liquidity pledge, it can deposit $x33.$ The x33:xSHADOW ratio starts at 1.00:1.00, and will gradually tilt towards $x33 as rewards from fees, voting incentives, and resets accumulate. At the end of each cycle, rewards from fees and voting incentives are automatically sold to increase the $x33:xSHADOW ratio. The advantages of using $x33 tokens are as follows:
- Automatic voting: Calculate the optimal voting strategy according to a certain mathematical algorithm;
- SHADOW repurchase: Use aggregators to sell SHADOW rewards for best execution;
- Automatic compound interest: All voting incentives and fees increase the conversion ratio of $x33:xSHADOW;
- Zero fee: There is no cost to deposit, withdraw or compound interest;
- Adequate liquidity: Unlike pledged xSHADOW positions,$x33 can be freely traded on the open market;
- Price protection: You cannot trade below the redemption value of xSHADOW (instant exit).
Just pledge your xSHADOW and hand over the rest to $x33-zero-friction, fully automatic.
The market value of $x33 has also continued to rise with the popularity of Sonic Chain and Shadow Exchange. Within a week, the market value has exceeded from around US$3M to a maximum of US$15.53M, with the highest increase of more than 400%. The current market value is around US$12.88M.
EGGS
Eggs Finance is a DeFi protocol built on the Sonic blockchain. Users can cast EGGS by depositing S into the agreed smart contract, with a fee of 2.5% per cast transaction. The supply limit of EGGS is 100 billion pieces.
Source: Eggs Finance official website
The easiest way to redeem EGGS for S is to “sell back” it to the contract through the “Exchange” tab of the dApp. This is the same as at the time of casting and will incur a 2.5% fee, but the EGGS will be destroyed and the underlying S assets will be sent to the user. Fees will be allocated to contracts, liquidity incentives and teams in the same proportion as casting. Another way is to redeem EGGS by borrowing, which uses a position as collateral for borrowing and immediately defaults. This will destroy EGGS and return the underlying S assets to users, minus mortgage premiums and interest.
Users can also use EGGS as collateral to borrow S tokens. Users can borrow S equivalent to 99% of the value of their EGGS at most. The interest rate is calculated on a linear basis. The benchmark interest rate is 0.05%. The minimum repayment time is 1 day and the maximum repayment time is 365 days.
Therefore, users can use the above rules to leverage their positions: use the S tokens they hold to mint EGGS tokens, then use the minted EGGS as collateral to borrow S, and use the borrowed S to mint or buy more EGGS, and cycle this process to continuously obtain more tokens.
Source: Eggs Finance official website
The market value of the EGGS token quickly exceeded US$7M on the first day after its launch and continued to fluctuate. The current market value is US$12.12M, up 58% in a week.
Meme
On February 7, Sonic launched an on-chain Meme competition, in which 1 million OS tokens (liquid pledge tokens of S, which can be exchanged for S on a 1:1 ratio) will be distributed to the top 125 holders of the eight winning memecoin to reward loyal community members. Memecoins rankings are based on a points system that prioritizes liquidity (TVL) and transaction volume. The author will select the top two Meme tokens for readers to introduce:
GOGGLES
When the popularity of Meme in the Solana chain dropped and users on BNB Chain were still unclear which “broccoli” to buy, GOGGLES, as the leader of Meme coins on the Sonic chain, took advantage of the popularity of the Sonic chain to stand out in the Meme competition and enter investors ‘vision. There is high enthusiasm for the hype of GOGGLES in the community, with images and videos constantly created, and as the price of the token $S rises, the voice of GOGGLES continues to get higher.
The token $GOGLZ began to rise at noon on the 19th, and its market value rose from US$4.18M to a maximum of US$18.58M, with the highest increase of 344% in two days. The current market value has slightly corrected. As of writing, the market value is US$15.6M.
TINHATCAT
Cats and dogs, as small animals popular with the public, have always been the most classic image choice for Meme coins. Tinhatcat, the second largest Meme coin on the Sonic chain, is a cat wearing a pink hat. Its cute style and diverse second creations also led to the take-off of the token THC. The market value of THC tokens rose rapidly in a single day on the 12th, rising from US$1.63M to 6.91M, with a single-day increase of 322.61%. THC tokens have been fluctuating and rising since then, and as of writing, the market value is US$7.2M.
decentralized trading platform
NAVI
Navigator Exchange is a decentralized liquidity market in the Sonic ecosystem, covering multiple assets such as cryptocurrencies, foreign exchange, and metals. With a total trading volume of US$129 million, a TVL of US$9.91 million, a 240% APR in the liquidity pool, and rewards in the form of $S tokens, it is the No. 1 Perp DEX on Sonic. The market value of its token NAVI has been rising since the 19th, and has increased by as much as 10 times in three days. The current market value is US$12.11M.
BEETS
Beets is a decentralized trading platform launched as Beethoven X on the Fantom network in October 2021. Since then, the protocol has developed across chains and was deployed on Optimism in July 2022, and migrated from Fantom to Sonic in December 2024. Balancer v3 provides license-free technology to simplify AMM development. Its 24H trading volume on the Sonic chain is US$14.46M, 24H transaction fees are approximately US$20,000, and TVL165 million. Users can pledge stS tokens on Beets and earn revenue. The current market value of BEETS token is US$10.64M, up 95.6% in three days.
