what's Beets?
Beets is a DeFi protocol operating as the Liquid Staked Token (LST) Hub on the Sonic blockchain. It enables users to stake Sonic's native token ($S) into $stS, a liquid staking derivative that automatically compounds staking rewards while maintaining liquidity for use in other DeFi applications. The protocol facilitates seamless staking processes and provides access to LST-focused liquidity pools, allowing participants to earn yields from staked assets without locking them up. Beyond basic staking, Beets integrates multiple revenue streams into its ecosystem, including swap fees from liquidity provision, validator operations on Sonic, and lending markets like $loopS. It supports advanced features such as Balancer v3 pools and escrowed tokens for enhanced composability, positioning Beets as a central infrastructure layer for Sonic's DeFi growth. By capturing value from various protocol activities, Beets aims to create a self-sustaining economy where staked $BEETS tokens offer broad exposure to the network's expansion.
Whitehats recovered $4.1M from Balancer V2 pools, including Beets on Optimism.
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CEO Mitchell Demeter and Head of Business Evan Owens stepped down from Sonic Labs.
Coordinated whitehat recovery operation secures approximately $4.1M from affected Balancer V2 meta-stable pools including Beets on Optimism for reconciliation and return to users, with warnings issued not to interact with listed pools until further guidance.
Beets Finance loses over $3 million in the Balancer V2 vault exploit caused by a manageUserBalance() function vulnerability that enables attackers to impersonate users and drain assets, part of a total $128 million stolen across Ethereum, Base, Sonic, and Polygon.
Security breach affects Balancer and its forks including Beethoven X, prompting discussion of insurance protocols for fund recovery.
Sonic security team freezes wallets and deploys safety mechanism following notification of suspicious exploit activity at 3:45 AM EST on November 3rd, with investigation ongoing in coordination with the Beets team.
Liquidity affected by the recent Balancer v2 exploit will be restored shortly with migration options to be announced for affected users, while pools remain closed as a precaution.
Active security exploit affects the protocol as Balancer v2 fork, targeting ETH pools with urgent warnings issued for users to remove funds immediately.
Enhanced concentrated liquidity pools report significant swap fee generation, with the S-USDC pool leading at 68% fees and 91% BEETS allocation.
New lending protocol soneta_xyz accepts stS as collateral for $ONE borrowing on Sonic Labs.
56% of supply locked in maBEETS staking, with 1,572 holders earning $1M+ in rewards this year.
Token buybacks (17.0M) exceed emissions (13.3M) in 2025, creating net deflationary pressure through multiple revenue streams.
New dynamic concentrated liquidity technology launches with automatic range adjustment, developed in partnership with Balancer and GyroStable.
Aave and Beets DAOs partner to offer 6.48% net yield on $stS tokens through new lending and borrowing strategy on Sonic.
New concentrated liquidity pool for $stS token launches on platform.
Launch of zero-liquidation risk trading product $xS and high-yield stablecoin $sncUSD on Sonic Labs
New Sonic Labs whitelisted assets pool launches with 14% APR from swap fees and $145k TVL, requiring token loans or pooling for maximum points earnings.
Active governance vote allocates $13k BEETS to protocol pools with additional bribe incentives.
Season 2 airdrop launches with focus on active participation instead of passive farming.
Season 2 eliminates passive points in favor of merit-based rewards requiring active participation, while current metrics show $6M market cap with $200M TVL.
New Aave integration launches with stS lending, boosted pools, and Stablesurge peg protection mechanism.
Token secures Binance listing alongside other Sonic Labs ecosystem tokens ($SHADOW, $ANON, $FLY).
TVL surges to $792M with $442M stablecoin market cap; Season 2 airdrop announced.
New stS staking pool launches on Penpie offering 21% APY plus 8x SonicLabs Points multiplier.
Final day for BEETS and stS token swap rewards program via Bungee platform.
Holds $268M TVL as liquidity infrastructure on Sonic, ranking #3 among top protocols.
New single-sided staking pool launches offering 17.5% APY on stS tokens through Peapods, combining 13.3% real yield and 4.2% staking returns paid in stS and USDC.
New chat3one platform integration expands token accessibility and trading options.
New Ledger Live integration enables secure token management through hardware wallet ecosystem.
Multi-protocol yield strategy launches offering swap fees, yield, and incentives through Pendle and Euler integrations via Sonic.
Recent Binance Alpha listing drives significant price increase.
Token buyback rate exceeds emission rate by 32% in April, with 1.32 tokens bought for every token emitted.
New Binance listing and Aave integration expand market reach significantly.
New Binance Alpha listing announced alongside two other Sonic Labs ecosystem projects.
New spot listing on Ourbit exchange with USDT trading pair, deposits now open.
Treasury buybacks of 4.67M tokens exceed 4.6M emissions while maintaining positive cash flow.
New integrations with Aave and Euler Finance expand protocol functionality.
$1,000 USDC voting incentives program launches with 1000% APR for $stS pool on Penpie voting market.
Protocol currently implements infinite approval settings, exposing users to higher security risks.
Maintains top-2 position in Sonic DeFi Ecosystem as leading LST platform.
Protocol shows $207M TVL with $5.87M market cap, indicating 35x TVL/MC ratio.
Sonic ecosystem DEXs compete for liquidity dominance with bi-weekly user incentives.
New yield farming strategy offers combined returns through multi-protocol integration with 17-22% APR opportunities.
Protocol demonstrates strong growth metrics within Sonic ecosystem, ranking among fastest-growing by active addresses.
Active airdrop campaign rewards users for completing Week 2 quests in partnership with Pendle.
maBEETS votes rewards increased 64% this epoch, following 55% and 61% increases in previous epochs.