Sonic continues to make waves in DeFi after its rebranding from Fantom. At the beginning of 2025, the new chain had $27 million in total value locked (TVL) a few days after its official launch. On February 19, the network crossed the $500 million mark and the next day it hit $600 million.
Here are three of the fastest-growing DeFi apps on Sonic right now:
Euler Expands on Sonic After Recent Integration
Euler is a multi-chain lending protocol whose latest v2 integrated with Sonic at the beginning of February. Its TVL on Sonic surged from zero to over $17 million within less than two weeks, becoming the seventh-largest app on the network.
Meanwhile, Euler’s TVL across all chains is at a record $237 million. In mid-November 2024, we reported that Euler was reviving after years of zero activity following a major exploit.
Euler is currently available on Ethereum, Base, Sonic, and Swellchain.
Stability Surges 3,000%
Stability is a Sonic-based liquidity management app. Its TVL has surged nearly 3,000% in the past week alone to a record $13.4 million.
Stability users can deposit certain tokens in vaults that pay generous annual percentage rate (APR) figures that can go above 200%.
Sonic’s native S token is the main asset on the app, as staked S and wrapped S account for over 95% of total deposits.
Shadow Hits $100M Mark
Shadow becomes the largest decentralized exchange on Sonic, overcoming the likes of SwapX and ICHI.
The DEX soared about 1,000% in the past month, becoming the first to hit the $100 million mark.
The Shadow ecosystem comprises the Shadow Exchange CLMM, a fork of Uniswap v3, and Shadow Exchange Legacy, which is forked from Solidly.
On February 13, trading volume on the main DEX crossed $40 million, while the Legacy version saw a record $4 million in trading volume on Wednesday.
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