Shadow Exchange – The powerful DEX machine of Sonic
Shadow Exchange is currently the number 1 DEX on Sonic, accounting for up to 65% of the total on-chain trading volume.
With just 💧 30M USD TVL, Shadow processes over 📈 1B USD in volume/month → capital efficiency of 33x, far surpassing traditional AMMs.
💰 Real revenue
A total of over $39M in fees accumulated since launch.
In the last 30 days, holders received $1.2M in fees – equivalent to 25% of market cap (~$5M).
This is real yield, not "ponzi yield" or promised airdrops.
⚙️ Fee model & xSHADOW mechanism
Pools with gauges: 100% of fees → xSHADOW holders.
Pools without gauges: 95% of fees → LPs, 5% → protocol.
xSHADOW vesting: long-term lockup for more benefits, early withdrawal incurs penalties ⚡️ → fees redistributed to loyal holders.
There is also an option for x(3,3) liquid staking for those needing flexible liquidity.
🔄 FeeM advantage (Fee Monetization)
Shadow ranks Top 3 in FeeM, holding 74.1% fee dominance in gauges.
Has received 230k $S rebate (~7.94% of the program).
Flywheel effect: Volume ↑ → rebate ↑ → LP yield ↑ → capital ↑ → volume continues to ↑.
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