Across 618 protocols with both fee and revenue figures.
DeFi value capture
Who actually keeps the money?
Users paid $2.6B across 618 comparable protocols in 30 days. Protocols kept 54% of it.
Protocols kept54.2%
Reported for holders*65.9%
FEES ARE WHAT USERS PAIDREVENUE IS WHAT THE PROTOCOL KEPTHOLDER REVENUE IS WHAT REACHED HOLDERSFEES ARE WHAT USERS PAIDREVENUE IS WHAT THE PROTOCOL KEPTHOLDER REVENUE IS WHAT REACHED HOLDERS
One payment. Three very different numbers.
A busy protocol does not automatically keep much revenue. And revenue kept by a protocol does not automatically reach its token holders.
54.2% of the money users paid.
65.9% of revenue among 297 protocols that report both figures.
Large-enough protocols are running faster than their own 30-day pace.
The busiest cash registers.
The first bar is money paid. The next number shows how much of it stayed with the protocol.
TetherStablecoin Issuer
$486.5M
kept by the protocol100.2%
recent pace+3.8%
Circle USDCStablecoin Issuer
$197.5M
kept by the protocol100.3%
recent pace+4.0%
Uniswap V4Dexs
$129.0M
kept by the protocol0.0%
recent pace-14.8%
Pons V2Launchpad
$125.5M
kept by the protocol17.8%
recent pace+11.2%
PumpSwapDexs
$100.4M
kept by the protocol15.0%
recent pace-1.4%
Hyperliquid PerpsDerivatives
$79.6M
kept by the protocol77.6%
recent pace-23.8%
Uniswap V3Dexs
$56.3M
kept by the protocol28.2%
recent pace-1.0%
GMGNTelegram Bot
$52.0M
kept by the protocol83.3%
recent pace-17.6%
CantonChain
$49.8M
kept by the protocol100.6%
recent pace-6.9%
AxiomTrading App
$48.4M
kept by the protocol59.9%
recent pace+3.0%
LidoLiquid Staking
$48.1M
kept by the protocol6.3%
recent pace+2.3%
pump.funLaunchpad
$46.7M
kept by the protocol72.5%
recent pace-5.2%
| Protocol | Kept | To holders | Share |
|---|---|---|---|
| Hyperliquid PerpsDerivatives | $61.8M | $61.8M | 100.0% |
| CantonChain | $50.1M | $50.1M | 100.0% |
| pump.funLaunchpad | $33.8M | $24.9M | 73.6% |
| TronChain | $24.4M | $24.4M | 100.0% |
| Uniswap V3Dexs | $15.9M | $15.9M | 100.0% |
| Aerodrome SlipstreamDexs | $13.3M | $13.3M | 100.0% |
| StonkFunLaunchpad | $13.1M | $6.2M | 47.8% |
| Chainlink StakingServices | $5.5M | $5.5M | 100.0% |
Where users paid the most.
Categories are grouped only from protocols with comparable fee and revenue figures.
Stablecoin Issuer5 comparable protocols
$709.9M
98.8% keptDexs91 comparable protocols
$427.2M
17.5% keptLaunchpad39 comparable protocols
$255.0M
37.6% keptChain31 comparable protocols
$190.2M
67.6% keptDerivatives34 comparable protocols
$124.8M
70.4% keptLiquid Staking51 comparable protocols
$120.1M
8.0% keptLending45 comparable protocols
$101.6M
21.2% kept