Ask about Shadow Exchange · freeTotal Value Locked$2.95m
TVL by Chain
Sonic$2.95m
Key Metrics
Fees 30d$73,696
Fees 30d by chain
Sonic$73,696
Fees 7d$9,542
Sonic$9,542
Fees 24h$888.63
Sonic$888.63
Cumulative Fees$39.26m
Sonic$39.26m
Revenue 30d$62,281
Revenue 30d by chain
Sonic$62,281
Revenue 7d$8,148
Sonic$8,148
Revenue 24h$797.24
Sonic$797.24
Cumulative Revenue$31.72m
Sonic$31.72m
Holders Revenue 30d$61,831
Holders Revenue 30d by chain
Sonic$61,831
Holders Revenue 7d$8,091
Sonic$8,091
Holders Revenue 24h$793.59
Sonic$793.59
Cumulative Holders Revenue$31.32m
Sonic$31.32m
Incentives 1y$873,757
Incentives 30d$46,612
Incentives 7d$10,271
Incentives 24h$1,245
Cumulative Incentives$39.86m
Earnings (Annualized)$941,863
Earnings 30d$15,669
Earnings 7d-$2,123
Earnings 24h-$447.92
Cumulative Earnings-$8.14m
DEX Volume 30d$29.76m
DEX Volume 30d by chain
Sonic$29.76m
DEX Volume 7d$4.98m
Sonic$4.98m
DEX Volume 24h$487,473
Sonic$487,473
Cumulative DEX Volume$13.219b
Sonic$13.219b
Market Cap$1.15m
$SHADOW Price$1.12
Fully Diluted Valuation$4.59m
Outstanding FDV$5.3m
$SHADOW Volume 24h$10,294
CEX Volume$0
DEX Volume$15,316(148.79% of total)
Protocol Information
A Sonic-native concentrated liquidity exchange
Yields
Pools Tracked22
Average Supply APY44.88%
User Activity
Active Addresses (24h)1,015
Transactions (24h)6,329
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 28, 2026.
All-time high TVL: $161.13m on Feb 25, 2025. All-time low TVL: $655,265 on Dec 30, 2024.
Daily TVL, Sep 29, 2026 to Oct 28, 2026
| Date | TVL |
|---|---|
| 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 |
| 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 |
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 28, 2026 (latest) | $2.95m |
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) | $68,750 | $58,643 | $58,258 |
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 28, 2026, Shadow Exchange has $2.95m in total value locked. TVL has decreased 20.4% 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 $73,696 in fees. Of that, $62,281 was protocol revenue. Based on the trailing year, the annualized rate is $1.97m in fees and $1.82m in revenue.
What is the SHADOW token price and valuation?
SHADOW is currently trading at $1.12. Its circulating market capitalization is $1.15m, ranking it #3,497. Its fully diluted valuation is $4.59m. Supply currently stands at 1.03m circulating, 4.11m total supply, 10m maximum supply.
How has SHADOW performed recently?
SHADOW is down 25.2% over the past 7 days and up 4.8% over the past 30 days. Its all-time high is $215.63, reached on Feb 20, 2025. The token is currently 99.5% below that level.
How does Shadow Exchange's TVL compare to similar protocols?
Among Dexs protocols tracked by DefiLlama, Shadow Exchange ranks #145 by TVL. The category holds $13.419b across 1,922 protocols, and Shadow Exchange accounts for <0.1% of that total. Similar protocols include Uniswap V3, Curve DEX, SushiSwap V3, SushiSwap, WOOFi Swap, DyorSwap AMM, Beets DEX, SpookySwap V2, Beets DEX V3, and zkSwap V2.
How much trading volume does Shadow Exchange process?
Shadow Exchange processed $29.76m in DEX volume over the past 30 days.