Hey crypto enthusiasts, if you're into the wild world of meme tokens on Polkadot, you've got to check this out. DefiLlama, the go-to platform for DeFi analytics, just announced they're now tracking the fees and revenue for Hydration DEX. This is big news because Hydration isn't just any decentralized exchange—it's the powerhouse for liquidity and meme coin launches in the Polkadot ecosystem.

For those new to the scene, DefiLlama is like the Bloomberg of DeFi. It aggregates data from hundreds of protocols across blockchains, giving you real-time insights into total value locked (TVL), fees, revenue, and more. Hydration DEX, formerly known as HydraDX, is a next-gen DeFi protocol built on Polkadot. It uses an innovative Omnipool design to make liquidity more efficient, meaning better trading experiences with less slippage and deeper pools for assets.

The tweet from @DefiLlama dropped on September 7, 2025, saying: "Now tracking @hydration_net DEX on our Fees & Revenue Dashboard." And they shared a screenshot showing some impressive stats for Hydration:

Breaking down those numbers: Hydration's TVL sits at a solid $166.47 million. Annualized fees are around $381,555, with 24-hour fees at $4,112. Revenue-wise, it's pulling in $66,588 annualized, and the DEX volume over the last 30 days is $272.27k. The $HDX token is priced at $0.0087, with a market cap of $51.37 million.

Why This Matters for Meme Token Traders

Hydration has carved out a niche as the premier spot for meme tokens on Polkadot. Through its Memepad feature, anyone can launch a memecoin in just a few clicks, democratizing the process and fueling the meme economy on this interoperable blockchain. Polkadot's architecture, with its parachains, allows for seamless cross-chain interactions, and Hydration leverages that to provide an ocean of liquidity—perfect for volatile meme trades.

With DefiLlama now monitoring Hydration's performance, traders get enhanced transparency. You can track how much the protocol is earning from fees (which often come from trading volumes, including those hype-driven meme swaps). Higher fees could signal growing adoption, which might pump the $HDX token and attract more liquidity providers. For meme token creators, this means better data to gauge market sentiment and optimize launches.

The Bigger Picture in DeFi

This move by DefiLlama highlights Polkadot's maturing DeFi landscape. While ecosystems like Solana and Ethereum dominate meme coin narratives, Polkadot is quietly building with projects like Hydration. The protocol recently received a hefty $34.7 million from the Polkadot Treasury, underscoring community confidence. As of now, Hydration boasts over $400 million in TVL across its operations, making it the top DEX on Polkadot.

If you're trading memes or just watching the space, keep an eye on Hydration's app. Tools like this tracking can help you spot trends early—maybe the next big Polkadot meme is brewing right there.

What do you think? Is Hydration set to rival the big boys in DeFi? Drop your thoughts in the comments, and stay tuned to Meme Insider for more updates on the meme token universe.