Ask about Shadow Exchange · freeTotal Value Locked$2.56m
TVL by Chain
Sonic$2.56m
Key Metrics
Fees 30d$45,733
Fees 30d by chain
Sonic$45,733
Fees 7d$7,082
Sonic$7,082
Fees 24h$1,404
Sonic$1,404
Cumulative Fees$39.28m
Sonic$39.28m
Revenue 30d$39,083
Revenue 30d by chain
Sonic$39,083
Revenue 7d$5,954
Sonic$5,954
Revenue 24h$1,331
Sonic$1,331
Cumulative Revenue$31.73m
Sonic$31.73m
Holders Revenue 30d$38,797
Holders Revenue 30d by chain
Sonic$38,797
Holders Revenue 7d$5,899
Sonic$5,899
Holders Revenue 24h$1,327
Sonic$1,327
Cumulative Holders Revenue$31.34m
Sonic$31.34m
Incentives 1y$716,979
Incentives 30d$39,585
Incentives 7d$6,890
Incentives 24h$980.30
Cumulative Incentives$39.88m
Earnings (Annualized)$642,092
Earnings 30d-$502.23
Earnings 7d-$935.68
Earnings 24h$350.70
Cumulative Earnings-$8.14m
DEX Volume 30d$22.15m
DEX Volume 30d by chain
Sonic$22.15m
DEX Volume 7d$3.83m
Sonic$3.83m
DEX Volume 24h$782,746
Sonic$782,746
Cumulative DEX Volume$13.23b
Sonic$13.23b
Market Cap$784,151
$SHADOW Price$0.75
Fully Diluted Valuation$3.08m
Outstanding FDV$3.54m
$SHADOW Volume 24h$7,583
CEX Volume$0
DEX Volume$7,603(100.27% of total)
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
Yields
Pools Tracked22
Average Supply APY120.43%
Largest Pools by TVL
USDC-USDTSonic$522,220
evaUSDT/evaUSDCSonic$483,148
FT-ftUSDSonic$146,683
wS-USDCSonic$142,030
USDC/SHADOWSonic$114,037
User Activity
Active Addresses (24h)1,295
Transactions (24h)11,891
Competitors
Shadow Exchange history
TVL is the default DefiLlama definition. Daily values are UTC snapshots from Dec 30, 2024 to Nov 14, 2026.
All-time high TVL: $161.13m on Feb 25, 2025. All-time low TVL: $655,265 on Dec 30, 2024.
Daily TVL, Oct 16, 2026 to Nov 14, 2026
| Date | TVL |
|---|---|
| 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 |
| Oct 23, 2026 | $3.11m |
| Oct 24, 2026 | $3.1m |
| Oct 25, 2026 | $3m |
| Oct 26, 2026 | $2.98m |
| Oct 27, 2026 | $2.98m |
| Oct 28, 2026 | $2.95m |
| Oct 29, 2026 | $2.96m |
| Oct 30, 2026 | $2.24m |
| Oct 31, 2026 | $2.85m |
| Nov 1, 2026 | $2.83m |
| Nov 2, 2026 | $2.81m |
| Nov 3, 2026 | $2.77m |
| Nov 4, 2026 | $2.77m |
| Nov 5, 2026 | $2.79m |
| Nov 6, 2026 | $2.67m |
| Nov 7, 2026 | $2.71m |
| Nov 8, 2026 | $2.7m |
| Nov 9, 2026 | $2.63m |
| Nov 10, 2026 | $2.64m |
| Nov 11, 2026 | $2.6m |
| Nov 12, 2026 | $2.61m |
| Nov 13, 2026 | $2.62m |
| Nov 14, 2026 | $2.59m |
TVL at each month end, Dec 2024 to Nov 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 31, 2026 | $2.85m |
| Nov 14, 2026 (latest) | $2.59m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 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 | $73,364 | $62,188 | $61,760 |
| Nov 2026 (to date) | $15,807 | $13,294 | $13,170 |
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 Nov 14, 2026, Shadow Exchange has $2.56m in total value locked. TVL has decreased 23.8% 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 $45,733 in fees. Of that, $39,083 was protocol revenue. Based on the trailing year, the annualized rate is $1.48m in fees and $1.36m in revenue.
What is the SHADOW token price and valuation?
SHADOW is currently trading at $0.74. Its circulating market capitalization is $782,242, ranking it #3,755. Its fully diluted valuation is $3.08m. Supply currently stands at 1.05m circulating, 4.14m total supply, 10m maximum supply.
How has SHADOW performed recently?
SHADOW is down 13.2% over the past 7 days and down 50.7% over the past 30 days. Its all-time high is $215.63, reached on Feb 20, 2025. The token is currently 99.7% below that level.
How does Shadow Exchange's TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, Shadow Exchange ranks #141 by TVL. The category holds $11.395b across 1,939 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, Beets DEX V3, SpookySwap V2, and zkSwap V2.
How much trading volume does Shadow Exchange process?
Shadow Exchange processed $22.15m in DEX volume over the past 30 days.