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

Sonic DeFi ecosystem flourishes: In-depth analysis of projects worthy of attention

Recently, as Sonic leads the recovery of the DeFi market, many projects in its ecosystem have shown significant growth potential, with the increase generally reaching 4-10 times in one week. This article will conduct in-depth analysis of projects worthy of attention in the current Sonic ecosystem and look forward to future development trends.

DeFi infrastructure

SHADOW

SHADOW is a native token of the Sonic on-chain exchange Shadow Exchange, which supports free exchange with other currencies (such as $S, USDC.e, x33, etc.). Users can obtain LP benefits by providing liquidity, or exchange SHADOW 1:1 to xSHADOW, and participate in pledge and voting to receive rewards. The initial supply of SHADOW is 3 million pieces, and it will be issued to about 5 million pieces in the next 10 years (500 periods), with a maximum supply of 10 million pieces.

$SHADOW's market value soared from about $5 million to $41.15 million in one week, an increase of more than 700%, reaching a maximum of $47.21 million. As the native token of the largest exchange on the Sonic chain, its value is closely related to the overall prosperity of the Sonic ecosystem.

X33

By performing liquid staking on xSHADOW, users can mint $x33. The ratio of $x33:xSHADOW starts at 1:1 and gradually shifts towards $x33 as the handling fee, voting rewards and reset rewards accumulate. After each cycle is over, the reward will be sold automatically to increase the proportion. The main advantages of $x33 include: automatic voting, SHADOW repurchase, automatic compounding, zero fees, high liquidity, and price protection.

The market value of $x33 has also risen from about $3 million to a maximum of $15.53 million in one week, an increase of more than 400%. The current market value is about $12.88 million.

EGGS

Eggs Finance is a DeFi protocol based on the Sonic blockchain. Users can deposit S into smart contracts to mint EGGS, and each transaction requires a 2.5% fee, and the total amount of EGGS is limited to 100 billion pieces.

<code>图源：Eggs Finance 官网</code>

Redination of EGGS can be done through the "Exchange" tab of the dApp or the redemption of the loan. Users can also use EGGS as collateral to borrow S tokens, and up to 99% of the value of EGGS, the interest rate is calculated in a linear proportion. This allows users to use leverage to enlarge their positions.

<code>图源：Eggs Finance 官网</code>

The market value of EGGS exceeded US$7 million on the first day of its launch, and its current market value is about US$12.12 million, up 58% in a week.

Meme Coin

On February 7, Sonic launched an on-chain Meme competition, rewarding a total of 1 million OS tokens (S's liquid staking tokens). Here are the top two Meme coins:

GOGGLES

GOGGLES, as the leader in the Sonic chain Meme coins, stands out in the Meme competition. Its community activity is high and Erchuang is rich in content. The market value of the token $GOGLZ has risen from US$4.18 million to a maximum of US$18.58 million, an increase of 344% in two days, and its current market value is about US$15.6 million.

TINHATCAT

TINHATCAT features the image of a cute cat. Its token THC market value rose rapidly in a single day on the 12th, from $1.63 million to $6.91 million, an increase of 322.61%, and its current market value is about $7.2 million.

Decentralized trading platform

NAVI

Navigator Exchange is a decentralized liquidity market in the Sonic ecosystem that supports multiple asset transactions. Its total trading volume reached US$129 million, TVL was US$9.91 million, liquidity pool APR was as high as 240%, and rewarded with $S tokens. Its token NAVI rose by as much as 10 times in three days, and its current market value is about US$12.11 million.

BEETS

Beets is a decentralized trading platform that has been deployed on the Sonic chain and is powered by Balancer v3. Its 24-hour trading volume was $14.46 million and TVL was $165 million. Users can earn profit by pledging stS tokens on Beets. Currently, BEETS market value is approximately US$10.64 million, up 95.6% in three days.

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