DeFive

DeFive is a decentralized exchange on the Sonic chain that was first active in the Fantom ecosystem and followed the migration when the Fantom mainnet upgraded to Sonic in 2024. Trading follows the automated market maker model: users deposit tokens into liquidity pools, swaps price against pool ratios, and fees accrue to liquidity providers by trade share, with no order book matching. Pool creation and parameter changes go through the protocol's governance process.

The protocol distributes incentives to liquidity providers through its native token WIGO and supports single-asset staking, reducing the impermanent exposure users take when providing liquidity. Sonic, as the upgraded successor of the Fantom mainnet in 2024, retains an asynchronous Byzantine fault tolerant consensus design with an improved fee market, and DeFive forms one layer of the chain's trading infrastructure. The pain point it addresses is the lack of pricing venues for new ecosystem assets: project tokens need on-chain price discovery, and generic cross-chain DEXs lag in listing them, which makes a native DEX the ecosystem's earliest price discovery layer.