Hey there, meme enthusiasts and crypto curious folks! If you're knee-deep in the world of blockchain like I am, you've probably seen the latest buzz from DefiLlama. They dropped a killer chart on X (that's Twitter for the old-school crowd) showing the top 10 DeFi protocols by revenue over the last couple of months. As a former CoinDesk editor now diving into all things meme at Meme Insider, I couldn't resist breaking this down for you. Especially since it shines a light on how meme tokens are not just fun and games—they're serious revenue generators.

What's the Chart Telling Us?

This stacked bar graph from DefiLlama tracks revenue in USD from mid-July to mid-September 2025. Think of revenue here as the fees these protocols rake in from users—things like trading fees, launch costs, or staking rewards. The x-axis marks key dates: July 17, end of July, August 17, end of August, September 17, and end of September (though it's cut off a bit early). The y-axis goes up to $100M, showing total combined revenue for the top 10.

You'll notice a steady climb starting from around $20M in mid-July, peaking at nearly $90M in mid-August, before dipping back down to about $50M by mid-September. That's the volatile world of DeFi for you—booms driven by market hype, followed by corrections. The colors represent different protocols, stacked to show their individual contributions to the total.

Spotlight on the Top Players

Let's zoom in on these protocols. I've pulled together a quick rundown based on their roles in the ecosystem. Many have ties to meme tokens, either directly or through the chains they operate on, like Solana, which is a hotspot for meme coin action.

Protocol	Description	Key Tie to Memes
Hyperliquid	A high-speed perpetual futures DEX built on its own blockchain, known for low fees and fast trades.	Enables leveraged trading on volatile meme assets.
Pump	That's Pump.fun, the go-to platform on Solana for launching meme coins with just a few clicks.	Ground zero for meme token creation—thousands of new memes daily, generating fees from launches and bonding curves.
Axiom Pro	An advanced oracle and data protocol, providing real-time info for DeFi apps.	Supports pricing for meme token derivatives and NFTs.
Aerodrome	A liquidity-focused AMM DEX on the Base chain, optimizing for efficient swaps.	Popular for trading Base-based meme tokens and viral projects.
Aval Labs	The team behind Avalanche, focusing on scalable DeFi solutions and subnets.	Hosts fast, low-cost meme coin ecosystems on Avalanche subnets.
edgex	An emerging edge computing protocol integrated with DeFi for faster data processing.	Aids in real-time meme trading bots and analytics.
Jupiter	Jupiter, Solana's premier DEX aggregator, routing trades for the best rates.	Essential for swapping meme coins on Solana without getting rekt on slippage.
Phantom	Phantom, the popular Solana wallet with built-in swap features.	Users' gateway to buying, holding, and trading meme tokens seamlessly.
Sky	A rebranded stablecoin protocol (formerly Maker), offering decentralized lending and borrowing.	Provides stability for meme traders hedging their wild bets.
ether.fi	ether.fi, a liquid staking platform for Ethereum, letting users earn yields while keeping assets liquid.	Indirect support for meme ecosystems through ETH liquidity pools.

From the chart, Hyperliquid often forms a big chunk of the base (pink), especially in the early periods, but Pump (blue) and others like Jupiter (red) start dominating as we move into August. This shift hints at a surge in trading activity, likely tied to meme coin mania.

Why Meme Coins Are Stealing the Show

Now, let's talk about the elephant in the room—or should I say, the dancing cat? Platforms like Pump.fun are crushing it because meme tokens are exploding in popularity. Pump.fun makes it dead simple to create and launch a meme coin: upload an image, set a name, and boom—it's live with a bonding curve that handles initial liquidity. The protocol earns revenue from a small fee on each launch and trade, and with hundreds of new tokens popping up daily, that adds up fast.

This ties into the broader Solana ecosystem, where low fees and high speeds make it perfect for meme trading. Jupiter and Phantom are key enablers here, handling the swaps and storage. If you're a blockchain practitioner looking to level up, keep an eye on these—understanding how revenue flows in DeFi can help you spot the next big meme wave before it crests.

The dip in September? Could be market cooling off after summer hype, or perhaps shifting focus to new chains. Either way, it's a reminder that while memes are fun, they're also a high-stakes game.

What This Means for You

If you're building or investing in meme tokens, this DefiLlama data is gold. It shows that user-friendly platforms with strong community vibes (hello, Pump.fun) can generate massive revenue. Dive deeper into these protocols, experiment with launches, and always DYOR—do your own research. At Meme Insider, we're all about arming you with the knowledge to navigate this wild space.

Got thoughts on this chart or your favorite meme protocol? Drop a comment below or hit us up on X. Stay memeing! 🚀