If you’re into the world of decentralized finance (DeFi), you’ve probably heard about how protocols make money and share it with their token holders. A recent tweet from DefiLlama dropped a fascinating list of the top 10 DeFi protocols by holders revenue over the past 7 days. Let’s break it down and see what’s cooking in the DeFi space as of July 2025!

What’s Holders Revenue Anyway?

Before we dive in, let’s clarify what “holders revenue” means. It’s the money earned by a protocol’s token holders from fees or other mechanisms, like buybacks or staking rewards. This isn’t just profit for the protocol itself—it’s cash (or crypto) that trickles down to the people holding the tokens. Think of it as a reward for believing in the project!

The Top 10 Protocols Stealing the Show

Here’s a look at the standout performers based on the data shared by DefiLlama:

• Hyperliquid (1 chain, Dexs)​: Leading the pack with a whopping $24.92 million in the last 7 days (and $75.69 million over 30 days). A massive 93% of its fees go to an Assistance Fund for burning tokens, with the rest supporting the HLP Vault. That’s a solid strategy to boost token value!
• PancakeSwap (10 chains, Dexs)​: Not far behind with $23.27 million (and $103.4 million over 30 days). It uses a tiny 0.0575% of fees for CAKE buybacks and burns, with 40% of fees fueling this process. A fan favorite on the BNB Smart Chain!
• letsBONKfun (1 chain, Launchpad)​: Raking in $6.89 million, with a unique model. Before June 10, 2025, 43% of fees went to buyback and burn, plus SBR + BonkRewards. After that, it shifted to 35% + 4% + BonkRewards. Talk about a dynamic approach!
• Jupiter (1 chain, Derivatives)​: Bringing in $5.03 million, with 12.5% of total fees going to JUP token holders. A nice perk for those holding this derivatives platform’s tokens.
• Aerodrome (1 chain, Dexs)​: Earning $4.12 million, it sends money straight to governance token holders. Simple, effective, and community-focused.
• Sky (1 chain, CDP)​: With $2.77 million, it’s all about SKY token buybacks and staking rewards for stakers. A great incentive for long-term holders!
• Raydium (1 chain, Dexs)​: Pulling in $2.19 million, it allocates 12% of fees to RAY token buybacks across all pool types, with 0.25% of platform fees burned. A steady earner!
• deBridge (26 chains, Bridge)​: A modest $465,397, but 100% of its post-June 20, 2025, revenue goes to buybacks. Impressive for a cross-chain bridge!
• Graphite Protocol (1 chain, Launchpad)​: Earning $913,519, with 7.67% of fees going to the GP Reserve across both periods (43% before June 10, 2025). A niche player with potential!
• Blackhole (1 chain, Dexs)​: Rounding it out with $523,457, it distributes all fees to veBlack holders. A true holder-centric model!

Why This Matters for Meme Token Fans

At Meme Insider, we’re all about spotting trends that could influence meme tokens and broader crypto ecosystems. While this list focuses on DeFi protocols, the revenue-sharing models here—especially buybacks and burns—mirror strategies used by successful meme coins. For instance, burning tokens (like Hyperliquid and PancakeSwap do) reduces supply, potentially driving up value—something meme token communities love to hype up!

What’s Next for These Protocols?

The data shows a mix of strategies: some protocols prioritize buybacks, others focus on staking rewards, and a few distribute fees directly to holders. This diversity hints at a maturing DeFi space where projects are finding creative ways to reward their communities. Keep an eye on how these trends evolve, especially as meme coins increasingly integrate DeFi mechanics to attract investors.

If you’re a blockchain practitioner or just a curious crypto enthusiast, this list is a goldmine for understanding which protocols are delivering real value to holders. Want to dig deeper? Check out DefiLlama’s site for more data and let us know your thoughts in the comments below!