Ask about Shadow Exchange · freeTotal Value Locked$3.43m
TVL by Chain
Sonic$3.43m
Key Metrics
Fees 30d$77,813
Fees 30d by chain
Sonic$77,813
Fees 7d$32,943
Sonic$32,943
Fees 24h$3,977
Sonic$3,977
Cumulative Fees$39.24m
Sonic$39.24m
Revenue 30d$62,737
Revenue 30d by chain
Sonic$62,737
Revenue 7d$27,241
Sonic$27,241
Revenue 24h$3,231
Sonic$3,231
Cumulative Revenue$31.7m
Sonic$31.7m
Holders Revenue 30d$62,197
Holders Revenue 30d by chain
Sonic$62,197
Holders Revenue 7d$27,017
Sonic$27,017
Holders Revenue 24h$3,201
Sonic$3,201
Cumulative Holders Revenue$31.3m
Sonic$31.3m
Incentives 1y$1.01m
Incentives 30d$43,200
Incentives 7d$12,345
Incentives 24h$1,993
Cumulative Incentives$39.84m
Earnings (Annualized)$1.05m
Earnings 30d$19,537
Earnings 7d$14,896
Earnings 24h$1,238
Cumulative Earnings-$8.14m
DEX Volume 30d$28.95m
DEX Volume 30d by chain
Sonic$28.95m
DEX Volume 7d$10.76m
Sonic$10.76m
DEX Volume 24h$1.56m
Sonic$1.56m
Cumulative DEX Volume$13.21b
Sonic$13.21b
Market Cap$1.55m
$SHADOW Price$1.53
Fully Diluted Valuation$6.26m
Outstanding FDV$7.22m
$SHADOW Volume 24h$23,340
CEX Volume$0
DEX Volume$22,950(98.33% of total)
Protocol Information
A Sonic-native concentrated liquidity exchange
Yields
Pools Tracked26
Average Supply APY75.82%
User Activity
Active Addresses (24h)2,242
Transactions (24h)17,631
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 16, 2026.
All-time high TVL: $161.13m on Feb 25, 2025. All-time low TVL: $655,265 on Dec 30, 2024.
Daily TVL, Sep 17, 2026 to Oct 16, 2026
| Date | TVL |
|---|---|
| Sep 17, 2026 | $2.99m |
| Sep 18, 2026 | $3.04m |
| Sep 19, 2026 | $3.22m |
| Sep 20, 2026 | $3.24m |
| Sep 21, 2026 | $3.35m |
| Sep 22, 2026 | $3.42m |
| 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 |
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 16, 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) | $48,491 | $40,468 | $40,163 |
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 16, 2026, Shadow Exchange has $3.43m in total value locked. TVL has increased 11.2% 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 $77,813 in fees. Of that, $62,737 was protocol revenue. Based on the trailing year, the annualized rate is $2.22m in fees and $2.06m in revenue.
What is the SHADOW token price and valuation?
SHADOW is currently trading at $1.53. Its circulating market capitalization is $1.55m, ranking it #3,012. Its fully diluted valuation is $6.26m. Supply currently stands at 1.02m circulating, 4.1m total supply, 10m maximum supply.
How has SHADOW performed recently?
SHADOW is up 32.2% over the past 7 days and up 136.3% 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 #140 by TVL. The category holds $13.761b across 1,926 protocols, and Shadow Exchange accounts for <0.1% of that total. Other leading protocols include Uniswap V3, Curve DEX, SushiSwap V3, SushiSwap, WOOFi Swap, DyorSwap AMM, 9mm V3, Beets DEX, SpookySwap V2, and Beets DEX V3.
How much trading volume does Shadow Exchange process?
Shadow Exchange processed $28.95m in DEX volume over the past 30 days.