I am operating various things with a small amount on the @SonicLabs chain. Among them, some are running LPs to receive APR and mine, and I am operating some assets as S/USDC on @ShadowOnSonic, which is Sonic's representative DEX. The price of $S has indeed dropped to around 0.22, but it is still moving within a relatively stable range of 0.35-0.2 (whether this should be considered stable is debatable... haha). Even while operating with a slightly narrower range than this, I am currently seeing an APR of 420%. The reason it can be this efficient is partly because the volume is double compared to the TVL, but more importantly, one of the LPs that directly distributes rewards on the Shadow exchange is S/USDC. In my case, I also claimed the Shadow tokens mined from the LP I was operating with a small amount for a while and converted them back into S tokens to add them to the LP. If I consider IL and operate with a slightly narrower range, the S/USDC LP is currently one of the best opportunities, potentially generating an APR exceeding 1000%. I am receiving Shadow tokens as APR, earning trading fees, and mining Sonic points. Haha.