Ask about Shadow Exchange · freeTotal Value Locked$3.17m
TVL by Chain
Sonic$3.17m
Key Metrics
Fees 30d$77,993
Fees 30d by chain
Sonic$77,993
Fees 7d$17,650
Sonic$17,650
Fees 24h$1,597
Sonic$1,597
Cumulative Fees$39.25m
Sonic$39.25m
Revenue 30d$65,384
Revenue 30d by chain
Sonic$65,384
Revenue 7d$15,965
Sonic$15,965
Revenue 24h$1,495
Sonic$1,495
Cumulative Revenue$31.71m
Sonic$31.71m
Holders Revenue 30d$64,918
Holders Revenue 30d by chain
Sonic$64,918
Holders Revenue 7d$15,902
Sonic$15,902
Holders Revenue 24h$1,491
Sonic$1,491
Cumulative Holders Revenue$31.31m
Sonic$31.31m
Incentives 1y$938,858
Incentives 30d$47,418
Incentives 7d$12,725
Incentives 24h$1,830
Cumulative Incentives$39.85m
Earnings (Annualized)$977,552
Earnings 30d$17,966
Earnings 7d$3,240
Earnings 24h-$334.48
Cumulative Earnings-$8.14m
DEX Volume 30d$30.36m
DEX Volume 30d by chain
Sonic$30.36m
DEX Volume 7d$7.82m
Sonic$7.82m
DEX Volume 24h$948,763
Sonic$948,763
Cumulative DEX Volume$13.216b
Sonic$13.216b
Market Cap$1.5m
$SHADOW Price$1.46
Fully Diluted Valuation$6m
Outstanding FDV$6.9m
$SHADOW Volume 24h$16,721
CEX Volume$0
DEX Volume$16,747(100.15% of total)
Protocol Information
A Sonic-native concentrated liquidity exchange
Yields
Pools Tracked26
Average Supply APY57.61%
User Activity
Active Addresses (24h)1,068
Transactions (24h)8,103
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Holders Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Competitors
Shadow Exchange history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Dec 30, 2024 to Oct 22, 2026.
All-time high TVL: $161.13m on Feb 25, 2025. All-time low TVL: $655,265 on Dec 30, 2024.
Daily TVL, Sep 23, 2026 to Oct 22, 2026
| Date | TVL |
|---|---|
| Sep 23, 2026 | $3.53m |
| Sep 24, 2026 | $3.64m |
| Sep 25, 2026 | $3.7m |
| Sep 26, 2026 | $3.75m |
| Sep 27, 2026 | $3.67m |
| Sep 28, 2026 | $3.7m |
| Sep 29, 2026 | $3.59m |
| Sep 30, 2026 | $3.58m |
| Oct 1, 2026 | $3.64m |
| Oct 2, 2026 | $3.63m |
| Oct 3, 2026 | $3.6m |
| Oct 4, 2026 | $3.65m |
| Oct 5, 2026 | $3.72m |
| Oct 6, 2026 | $3.75m |
| Oct 7, 2026 | $3.75m |
| Oct 8, 2026 | $3.62m |
| Oct 9, 2026 | $3.13m |
| Oct 10, 2026 | $3.23m |
| Oct 11, 2026 | $3.28m |
| Oct 12, 2026 | $3.41m |
| Oct 13, 2026 | $3.44m |
| Oct 14, 2026 | $3.43m |
| Oct 15, 2026 | $3.36m |
| Oct 16, 2026 | $3.4m |
| Oct 17, 2026 | $2.87m |
| Oct 18, 2026 | $3.39m |
| Oct 19, 2026 | $3.35m |
| Oct 20, 2026 | $3.44m |
| Oct 21, 2026 | $3.41m |
| Oct 22, 2026 | $3.4m |
TVL at each month end, Dec 2024 to Oct 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $786,607 |
| Jan 31, 2025 | $10.41m |
| Feb 28, 2025 | $119.38m |
| Mar 31, 2025 | $64.4m |
| Apr 30, 2025 | $67.4m |
| May 31, 2025 | $55.47m |
| Jun 30, 2025 | $40.08m |
| Jul 31, 2025 | $33.8m |
| Aug 31, 2025 | $28.71m |
| Sep 30, 2025 | $19.93m |
| Oct 31, 2025 | $13.08m |
| Nov 30, 2025 | $8.24m |
| Dec 31, 2025 | $5.99m |
| Jan 31, 2026 | $4.56m |
| Feb 28, 2026 | $3.52m |
| Mar 31, 2026 | $3.12m |
| Apr 30, 2026 | $3.41m |
| May 31, 2026 | $4.74m |
| Jun 30, 2026 | $3.55m |
| Jul 31, 2026 | $2.78m |
| Aug 31, 2026 | $3.2m |
| Sep 30, 2026 | $3.58m |
| Oct 22, 2026 (latest) | $3.4m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $8,205 | $409.43 | $0 |
| Jan 2025 | $545,368 | $95,238 | $71,547 |
| Feb 2025 | $7.68m | $2.34m | $2.06m |
| Mar 2025 | $8.55m | $7.8m | $7.76m |
| Apr 2025 | $4.82m | $4.68m | $4.67m |
| May 2025 | $6.24m | $6.04m | $6.03m |
| Jun 2025 | $2.6m | $2.43m | $2.42m |
| Jul 2025 | $2.41m | $2.3m | $2.29m |
| Aug 2025 | $1.93m | $1.84m | $1.84m |
| Sep 2025 | $1.21m | $1.15m | $1.15m |
| Oct 2025 | $1.4m | $1.32m | $1.31m |
| Nov 2025 | $638,938 | $600,545 | $598,521 |
| Dec 2025 | $248,075 | $228,926 | $227,916 |
| Jan 2026 | $221,779 | $209,970 | $209,350 |
| Feb 2026 | $152,322 | $141,379 | $140,801 |
| Mar 2026 | $99,820 | $93,860 | $93,544 |
| Apr 2026 | $56,360 | $52,175 | $51,952 |
| May 2026 | $71,788 | $63,594 | $63,161 |
| Jun 2026 | $132,282 | $117,436 | $116,656 |
| Jul 2026 | $74,212 | $68,392 | $68,083 |
| Aug 2026 | $47,207 | $41,829 | $41,607 |
| Sep 2026 | $51,279 | $39,246 | $38,883 |
| Oct 2026 (to date) | $61,749 | $52,927 | $52,596 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/shadow-exchange
Frequently asked questions
What is Shadow Exchange's TVL?
As of Oct 22, 2026, Shadow Exchange has $3.17m in total value locked. TVL has decreased 7.5% over the past 30 days.
What chains does Shadow Exchange operate on?
Shadow Exchange operates on Sonic. Sonic holds the largest share at 100%.
How much has Shadow Exchange generated in fees and revenue?
Over the past 30 days, Shadow Exchange generated $77,993 in fees. Of that, $65,384 was protocol revenue. Based on the trailing year, the annualized rate is $2.07m in fees and $1.92m in revenue.
What is the SHADOW token price and valuation?
SHADOW is currently trading at $1.46. Its circulating market capitalization is $1.5m, ranking it #3,031. Its fully diluted valuation is $6m. Supply currently stands at 1.03m circulating, 4.11m total supply, 10m maximum supply.
How has SHADOW performed recently?
SHADOW is up 3.1% over the past 7 days and up 31.8% over the past 30 days. Its all-time high is $215.63, reached on Feb 20, 2025. The token is currently 99.3% below that level.
How does Shadow Exchange's TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, Shadow Exchange ranks #144 by TVL. The category holds $14.125b across 1,919 protocols, and Shadow Exchange accounts for <0.1% of that total. Similar protocols include Uniswap V3, Curve DEX, SushiSwap V3, SushiSwap, WOOFi Swap, Beets DEX, DyorSwap AMM, SpookySwap V2, Beets DEX V3, and zkSwap V2.
How much trading volume does Shadow Exchange process?
Shadow Exchange processed $30.36m in DEX volume over the past 30 days.