If you've been diving into the world of meme tokens on Solana, you've probably noticed things cooling off a bit lately. A recent thread from RevTec.fi breaks down Solana's Real Economic Value (REV) for Q3 2025, and it's got some eye-opening insights, especially around memecoin trading. REV basically refers to the actual revenue the Solana network generates from transaction fees—think of it as the blockchain's real-world earnings after users pay to make moves.

The thread kicks off by noting that Solana's REV hit over $1 billion annually, but in Q3, it took a hit—down 22% from Q2 and nowhere near the highs of Q1. For context, this put Solana behind Hyperliquid in the rankings for the first time in months, even though it's still ahead of Ethereum. If you're trading memes, this matters because lower REV often ties back to less frantic activity on the network.

Digging deeper, the drop stems largely from declining Jito tips. Jito is a protocol that helps with MEV (Maximal Extractable Value) on Solana, where tips are extra fees users pay to validators for prioritizing their transactions—like tipping your barista for faster service. Priority fees, the base costs for transactions, stayed pretty steady. But as Orion from BasedOrion_ explains in a quoted post, improvements in Solana's scheduling and reduced congestion mean less need for those big tips.

What's this got to do with memes? The thread points out that memecoin trading volume dipped in Q3, while SOL-to-stablecoin swaps held strong. Memecoins often drive high-volume, arbitrage-heavy trading that racks up fees—and thus REV. With less meme frenzy, there's less of that high-fee behavior. Adam from TehC might have more takes on this, but the data shows REV as a share of DEX (Decentralized Exchange) volume halved.

For stakers—folks locking up SOL to secure the network and earn rewards—this is a mixed bag. Stakers snag over 90% of Jito tips but barely 1% of priority fees, since most validators aren't sharing those yet. With tips falling, staker earnings dropped below 50% of total network revenue for the first time. If you're staking to boost your meme token plays, this could mean slimmer yields.

Looking ahead, there's hope with SIMD-123, a upcoming protocol upgrade set for 2026 that could let validators share priority fees directly with stakers. This might redistribute more REV back to you, the everyday user.

The thread wraps up by teasing that despite the dips in memecoin trading and tips, Solana's REV isn't done growing. They link to a deeper dive on why it's just getting started (read the full thread here). Plus, if you want more, check out their upcoming livestream discussion with experts like Brian Smith, 0xbrw, and Curious Gurnoor, hosted by MaxH2O (sign up here). For the complete Q3 REV report, head over to RevTec.fi.

In the meme token space, Solana's efficiency gains are great for smooth trading, but they might temper the wild fee spikes that come with hype cycles. If memecoin volumes pick up again, expect REV to bounce back. Stay tuned—blockchain trends shift fast, and tools like this report help us all level up.