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Sonic Labs launches the native stablecoin USSD, striving to reverse the decline of the ecosystem
ChainCatcher News: Sonic Labs has launched the native stablecoin US Sonic Dollar (USSD), positioned as the core stable liquidity layer of the Sonic DeFi ecosystem. USSD is built on Frax’s frxUSD infrastructure, endorsed by institutions such as BlackRock, Superstate, and WisdomTree. It is pegged 1:1 to the US dollar and supports zero-fee minting across more than 10 chains using assets like USDC and USDT. Currently, it is live on Sonic, Ethereum, Base, Arbitrum, and a total of 12 chains.
Background for this launch: Sonic’s TVL has plummeted 97% from its May 2025 high of $1.1 billion to $34 million. The native token S has also fallen approximately 96% from its January 2025 all-time high of $1.03, with a market cap of only $150 million.
Sonic states that the USSD revenue will be reinvested into the ecosystem for buybacks and incentives, aiming to build a self-reinforcing liquidity cycle and reduce reliance on external market makers.