What other wealth codes are worth paying attention to in the Sonic ecosystem?

Written by: Penny

In recent days, the popularity of the Meme market has gradually cooled down. Sonic has led DeFi to return to the market again, and its leading projects have almost all increased by 4-10 times in the past week. What projects are worth paying attention to in the current Sonic ecosystem and what projects can be laid out in the future? The author sorts out the following:

Defi Infrastructure

SHADOW

$SHADOW is the native token of Shadow Exchange on Sonic, which can be exchanged freely with other currencies (such as Sonic chain general tokens $S, USDC.e, x33, etc.). Users can invest their SHADOWs in liquidity pools to obtain LP returns; they can also convert SHADOW tokens into xSHADOWs at a ratio of 1:1 to obtain pledge 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 cap of 10 million tokens.

The market value of $SHADOW has risen from around $5M in one week to currently $41.15M, an increase of more than 700%, with a maximum market value of $47.21M. $SHADOW is the native token of Shadow Exchange, the largest exchange on Sonic chain, and has a wide range of application scenarios and is closely related to the prosperity of the entire Sonic ecosystem.

X33

xSHADOW After liquidity pledge, $x33 can be cast. The ratio of $x33:xSHADOW starts at 1.00:1.00, and this ratio will gradually tend toward $x33 as rewards accumulate from fees, voting incentives, and resets. After 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 certain mathematical algorithms;
• SHADOW Repurchase: Use an aggregator to sell SHADOW rewards for best execution;
• Automatic compounding: All voting incentives and fees increase the redemption ratio of $x33:xSHADOW;
• Zero Fee: No cost for deposits, withdrawals or compound interest;
• Full liquidity: Unlike pledged xSHADOW positions, $x33 can be traded freely on the open market;
• Price protection: Cannot trade at a value below xSHADOW redemption (instant exit).

Simply pledge your xSHADOW and leave the rest to $x33 to complete - zero friction, fully automatic.

The market value of $x33 has also continued to rise with the rise in popularity of Sonic Chain and Shadow Exchange. In a week, the market value broke through from around US$3M to a maximum of US$15.53M, with a maximum 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 mint EGGS by depositing S into a smart contract in the agreement. Each minting transaction requires a 2.5% fee, and the maximum supply of EGGS is 100 billion pieces.

 Source: Eggs Finance official website

The easiest way to redeem EGGS and exchange S is to "sell" it back to the contract through the "Exchange" tab of the dApp. This is the same as when minting, incurring a 2.5% fee, but the EGGS is destroyed and the underlying S assets are sent to the user. Fees will be distributed to contracts, liquidity incentives and teams in the same proportion as casting. Another way is to redeem EGGS through loans, i.e., use positions as collateral to borrow and default immediately. This will destroy EGGS and return the underlying S assets to the user, subject to deduction of the mortgage premium and interest.

Users can also use EGGS as collateral to borrow S tokens. Users can borrow up to 99% of their EGGS value. The interest rate is calculated in a linear proportion, with a benchmark interest rate of 0.05%, and the repayment time is at least 1 day and a maximum of 365 days.

Therefore, users can use the above rules to leverage their positions: use the S tokens they hold to mint EGGS tokens, and then use the minted EGGS as collateral to borrow S, and use the borrowed S to mint or buy more EGGS and loop 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 and rise. Its current market value is US$12.12M, up 58% in a week.

Meme

On February 7, Sonic launched an on-chain Meme competition, with 1 million OS tokens (S's liquid staked tokens that can be exchanged for S at a 1:1 ratio) distributed to the top 125 holders of the 8 winning memecoin to reward loyal community members. Memecoins' ranking is based on a points system that prioritizes liquidity (TVL) and trading volume. The author will introduce the top two Meme tokens for readers:

GOGGLES

When the popularity of Meme on Solana chain has declined and users on BNB Chain are still not sure which "brocco" to buy, GOGGLES, as the leader of Meme on Sonic chain, stood out in the Meme competition and entered the Meme competition with the popularity of Sonic chain. Investor vision. The enthusiasm for GOGGLES in the community is rising, with Erchuang pictures and videos constantly, and with the rise in the price of token $S, the call for GOGGLES is still getting higher.

The token $GOGLZ started to rise at noon on the 19th, with its market value rising from USD 4.18M to a maximum of USD 18.58M, with a maximum increase of 344% in two days. Currently, the market value has been slightly pulled back, and as of writing, the market value is US$15.6M.

TINHATCAT

As small animals that are popular among the public, cats and dogs have always been the most classic image choice for Meme coins. The second largest Meme coin on the Sonic chain, Tinhatcat, is a cat with a pink hat. The cute style and diverse second creation also led the takeoff of the token THC. The market value of THC tokens rose rapidly in a single day on the 12th, rising from USD 1.63M to 6.91M, with a single-day increase of up to 322.61%. Since then, the THC token has been volatile and rising, with a market value of USD 7.2M as of writing.

Decentralized trading platform

NAVI

Navigator Exchange is a decentralized liquidity market in the Sonic ecosystem, covering a variety of assets such as cryptocurrencies, foreign exchange, and metals. With a total trading volume of $129 million, TVL $9.91 million, 240% APR is provided in the liquidity pool and rewarded in the form of $S tokens, it is the number one Perp DEX on Sonic. The market value of its token NAVI has been rising all the way since the 19th, with an increase of up to 10 times in 3 days, and its current market value is US$12.11M.

BEETS

Beets is a decentralized trading platform launched on the Fantom network in October 2021 with Beethoven X. Since then, the protocol has evolved across chains and was deployed on Optimism in July 2022, and moved from Fantom to Sonic in December 2024, with Balancer v3 providing license-free technology to simplify AMM development. Its 24H trading volume on the Sonic chain is US$14.46M, the 24H trading fee is approximately US$20,000, and TVL is US$165 million. Users can stake stS tokens on Beets and earn profits. The current market value of BEETS token is US$10.64M, up 95.6% in three days.