Solana-backed DeFi platform RateX's Leveraged Yield Decentralized Exchange attains new high, boasting a Total Locked Value of $42 million.
In the fast-growing world of DeFi, Solana-based platforms continue to make waves, and one such platform, RateX, has recently seen significant growth. On January 14, a record $10 million worth of tokens were deposited on RateX, with the majority consisting of SonicSOL.
RateX, a Solana DEX that focuses on leveraged yield, enables users to trade synthetic Yield Tokens of various yield-bearing assets by using leverage. The platform provides two additional features, Earn Fixed Yield and Yield Liquidity Farming, allowing users to boost returns.
The yield-bearing SonicSOL token, offered on RateX, promises an attractive APY of about 24%. Sonic SVM, the first chain that runs the Solana Virtual Machine (SVM), is the backbone of SonicSOL. Interestingly, Sonic SVM is positioned as the industry's first TikTok App Layer.
SonicSOL is the largest market on RateX, accounting for over two-thirds of the platform's Total Value Locked (TVL) with a record $29 million. This growth coincides with the launch of SONIC, the native token of Sonic SVM, which has seen a surge in popularity.
While other Solana DeFi platforms focus on DEXs, staking, yield farming, or decentralised derivatives, RateX stands out as one of the first protocols to introduce leverage for yield trading. However, detailed metrics or evaluations about RateX’s yield performance, user adoption, or technical innovations are not extensively documented in the current mainstream Solana trading and DeFi news or analysis sources.
As of August 2025, RateX’s development and performance details are not widely discussed in these sources. For the latest detailed insights on RateX specifically, it may be necessary to check dedicated RateX communications (official website, whitepapers, or community forums) or specialized Solana ecosystem updates not captured in the current broad search results.
In a recent development, RateX's TVL hit a record $42 million following a 105% increase in the past week, according to DefiLlama. With Sonic SVM reporting a market cap of $250 million, it seems that RateX is poised for continued growth in the DeFi space.
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- In the DeFi industry on Solana, the growth of RateX, a platform known for its focus on leveraged yield and synthetic Yield Tokens, has gained attention, with recent news featuring a $10 million token deposit on the platform, primarily consisting of SonicSOL.
- As RateX, the Solana DEX, continues to see significant growth, including a recent TVL increase of 105%, and Sonic SVM reporting a market cap of $250 million, there is speculation about its continued expansion in the finance technology sector. However, detailed analysis of RateX’s performance or technical innovations may be found in dedicated RateX communications or Solana ecosystem updates rather than mainstream news or analysis sources.
