DEXes · Review

Active

Sonic ICP Review 2026: An AMM Hub on the Internet Computer

Sonic ICP is an automated market maker and DeFi hub on the Internet Computer for swaps and liquidity provision. Its tracked liquidity is very small, so treat it as a niche, high-risk venue.

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

4.5/10

Weak

Visit Sonic ICP

Our verdict on Sonic ICP

4.5/10

Sonic ICP suits users already on the Internet Computer who want an AMM for swaps or liquidity provision and accept small-venue risk. Its main strength is that it is a native DEX on a chain with few alternatives, and it keeps developing, including the V3 pool migration. The main caveat is liquidity: tracked TVL is around $1,555, no audits are listed, and fees are not published. Test with small amounts and check the official announcements first.

Score breakdown

How Sonic ICP scores

Security: 3.5/10
Ease of use: 6.0/10
Fees: n/a
Features: 5.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Sonic ICP?

Sonic ICP, branded as Sonic - AMM & DeFi Hub, is a decentralized exchange on the Internet Computer. It lets users swap tokens, earn fees by providing liquidity, and build on its automated market maker.

The protocol has been tracked since mid-2022. Public reporting shows it has run a Liquidity Bootstrapping Pool launch and has been migrating liquidity pools from V1 to V3, so development has continued. One exchange data listing shows the Sonic/ICP pair and other ICP-paired tokens among its trading pairs.

Liquidity is the main concern. Tracked TVL is around $1,555, which is tiny even for a niche chain. The homepage does not publish fees, audits or team details, so readers have to weigh the product mostly on its concept and the limited information available.

How Sonic ICP works

Sonic is an automated market maker. Instead of matching buyers and sellers, it holds pools of two tokens, such as a token paired with ICP. A formula sets the price based on the pool balance, and each swap shifts that balance.

Liquidity providers deposit both tokens into a pool and earn a share of the fees paid by traders. The risk is impermanent loss: if the relative prices of the two tokens move, the deposit can be worth less than simply holding them.

Because Sonic runs on the Internet Computer, its logic runs in canister smart contracts rather than on an EVM chain. The project says it uses the network's scalability to offer swaps, liquidity and other DeFi products.

6 features

Key features

AMM token swaps

Swap tokens on the Internet Computer through automated liquidity pools instead of an order book.

Liquidity provision

Users can deposit tokens into pools and earn a share of trading fees as liquidity providers.

DeFi product hub

The project describes itself as a hub with a collection of DeFi products, with swaps and liquidity as the core ones.

Builder access

The protocol is described as open for builders to develop on top of its AMM.

V3 liquidity migration

Public reporting shows a move of liquidity pools from V1 to V3, indicating ongoing development of the protocol.

LBP token launches

The project has run a Liquidity Bootstrapping Pool launch, a token distribution method that adjusts price over time.

Pros and cons

What we like

Native AMM for the Internet Computer, a chain with few DEX options
Offers both swaps and liquidity provision with fee earning
Open to builders who want to build on its AMM
Shows ongoing development, including the V1 to V3 liquidity migration
Has run a Liquidity Bootstrapping Pool, showing token launch tooling

Watch out for

Tracked TVL is only about $1,555, so liquidity is very thin and larger swaps will likely see heavy price impact
No audits are listed for the protocol
Fees, team and governance details are not published on the homepage
Only runs on the Internet Computer, so users need an ICP-compatible wallet and tokens
The name is easy to confuse with the unrelated Sonic layer-1 chain and its S token, which makes research harder
A liquidity migration from V1 to V3 means users with older positions have to follow announcements and move funds

Sonic ICP fees

Sonic ICP does not publish swap fee rates or liquidity-provider fee splits on its homepage. In an AMM, the swap fee is normally a percentage of each trade, and part or all of it goes to liquidity providers. Users should check the fee shown in the swap interface before confirming.

On top of protocol fees, users pay network costs on the Internet Computer, and thin liquidity can add significant price impact on larger trades.

Is Sonic ICP safe?

No audits are listed for Sonic ICP in the tracked data, and the homepage does not point to a published audit report. Users interact through smart contracts, so bugs, upgrades and migrations such as the V1 to V3 move carry risk. Liquidity providers also face impermanent loss.

Custody is non-custodial in the usual DEX sense: you connect a wallet and keep your keys. Regulatory status, team identities and any insurance or bug-bounty program are not published. With very low TVL, treat the venue as high-risk and use only funds you can afford to lose.

6 steps

How to get started with Sonic ICP

1
Confirm you are on the official Sonic site and that you mean the Internet Computer protocol, not the separate Sonic layer-1 chain.
2
Set up a wallet compatible with the Internet Computer and fund it with ICP or a supported token.
3
Connect the wallet to the app and review the available trading pairs, such as those paired with ICP.
4
Start with a small test swap and check the quoted price impact and fee before confirming.
5
If you want to provide liquidity, read the pool details and the V1 to V3 migration notes first, and understand impermanent loss.
6
Keep track of official announcements for migrations and upgrades.

Open Sonic ICP

Who Sonic ICP is for

Sonic ICP is for Internet Computer users and builders who want an on-chain AMM to swap tokens or provide liquidity, and who understand the risks of small, unaudited DeFi venues. It is not a good fit for large traders who need deep liquidity or for users who want audited protocols with published fee schedules.

Sonic ICP FAQs

What is Sonic ICP?

Sonic ICP is an automated market maker (AMM) built on the Internet Computer. Users swap tokens, provide liquidity to earn fees, and developers can build on it.

Is Sonic ICP the same as the Sonic blockchain?

No. Sonic ICP runs on the Internet Computer, while the Sonic layer-1 chain and its S token are a different project. Check that you are using the right site and token before connecting a wallet.

Does Sonic ICP have a token?

The tracked data lists the token as SONIC. Public reporting also mention an earlier SonicX token with a path to convert into SOC tokens, the platform's official tokens. The project does not detail on its homepage how these tokens relate, so check its official announcements.

Which chain and wallet does Sonic ICP use?

Sonic ICP uses the Internet Computer, so you need a wallet that supports ICP tokens. The homepage does not list wallets, so check the app's connect options.

Is Sonic ICP safe?

The homepage does not publish a fee schedule and no audits are listed in the tracked data. Liquidity is also very small, around $1,555 in TVL. Anyone using it should expect price impact and smart-contract risk, and should only risk money they can afford to lose.

What is the V1 to V3 migration?

Public reporting shows the team announced a migration of liquidity pools from V1 to V3. Anyone holding V1 positions should follow the official announcements and migration steps rather than leaving funds in old pools.

Compare

Sonic ICP alternatives

All alternatives

Uniswap V3

DEXes

Uniswap V3 is a non-custodial decentralized exchange protocol for token swaps and concentrated liquidity provision across 40+ chains.

TVL $1.51B−3.7%Ethereum · Base · Arbitrum +38

Uniswap V4

DEXes

Uniswap V4 is the latest Uniswap DEX version with hooks and concentrated liquidity, running on 22 chains for self-custody token swaps and liquidity provision.

TVL $1.14B−2.9%Ethereum · Robinhood Chain · Base +19

Uniswap V2

DEXes

Uniswap V2 is a non-custodial automated market maker DEX on 17 chains for token swaps and liquidity provision, with about $938M TVL.

TVL $864M−4.1%Ethereum · Base · Polygon +14

PancakeSwap AMM V3

DEXes

PancakeSwap AMM V3 is a multichain decentralized exchange using concentrated liquidity pools, for traders and liquidity providers, led by BNB Chain.

TVL $694M−2.5%BNB Chain · Ethereum · Base +8

Project X

DEXes

Project X is a DEX on Hyperliquid offering token swaps and liquidity provision with advertised 0% fees, aimed at DeFi users in that ecosystem.

TVL $34.0M−6.4%Hyperliquid L1

Fluid DEX

DEXes

Fluid DEX is the trading layer of Instadapp's Fluid protocol, where LP positions can also serve as collateral on a shared liquidity layer.

TVL $216M−2.7%Ethereum · Arbitrum · Base +2

Same category

More DEXes

DEXes rankings

Curve

DEXes

Curve is a decentralized exchange on Ethereum built for low-slippage swaps of stablecoins and similar assets, with CRV governance and a crvUSD stablecoin.

Ethereum