Top 10 Protocols by Holder Revenue in 30 Days

Roughly $176.9M returned to holders over the past month, and Hyperliquid just pulled further ahead:

• Hyperliquid - $72.4M
• Pump.Fun - $26.5M
• Aerodrome - $15.1M
• StonkFun - $14.8M
• Pons - $14.7M
• Uniswap - $13.0M
• BONK.fun - $5.50M
• Sky - $5.42M
• Raydium - $4.78M
• Pancakeswap - $4.71M

Hyperliquid alone is up from $55.3M last month to $72.4M now - a 31% jump in 30 days, and it's not close to second place. One perp DEX returns more to holders than the other nine protocols on this list combined.

Three of the top five - Pump.Fun, StonkFun, Pons - are launchpad-style venues, not DEXs or lending markets. That's half the list built on people launching tokens, not trading them. The "fun" model isn't a meme anymore, it's a revenue category of its own.

Uniswap at $13.0M still trails Aerodrome, a chain-specific DEX a fraction of its size. Scale doesn't translate to holder payouts the way it used to - volume without a distribution mechanism just sits there.

Source 🔗 Defillama

Top 7 Perks | Variational Points +12% | Nado Private Invite | Kolo Free Card Issuance | $20 in KAST Points