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Sonic Labs launches native stablecoin USSD, aiming to reverse the ecological downturn
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 the infrastructure of Frax's frxUSD, backed by institutional endorsements from BlackRock, Superstate, and WisdomTree, and is pegged to the US dollar at a 1:1 ratio. It supports gas-free minting across more than 10 chains using assets like USDC and USDT, and is currently live on a total of 12 chains including Sonic, Ethereum, Base, and Arbitrum.
Background of the launch: Sonic's TVL has plummeted 97% from its peak of $1.1 billion in May 2025 to $34 million, and the native token S has also dropped about 96% from its historical high of $1.03 in January 2025, with a market cap of only $150 million remaining.
Sonic stated that USSD yields will flow back into the ecosystem for buybacks and incentives, aiming to build a self-reinforcing liquidity cycle and reduce reliance on external market makers.
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