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Top 10 DeFi Protocols by Token Holder Revenue in September 2025: DeFiLlama Insights

Top 10 DeFi Protocols by Token Holder Revenue in September 2025: DeFiLlama Insights

In the fast-paced world of decentralized finance (DeFi), protocols are increasingly focusing on sharing revenue with their token holders. This not only incentivizes long-term holding but also builds stronger communities. A recent tweet from DeFiLlama, a go-to platform for transparent DeFi analytics, highlighted the top 10 protocols by 7-day revenue earned by token holders. Let's dive into what this means, especially for those in the meme token space.

DeFiLlama's data showcases how these protocols are distributing fees and earnings back to their communities. For meme token enthusiasts, this is particularly exciting because platforms like Pump.fun—a popular launchpad for meme coins—are ranking high. Revenue sharing can provide stability and rewards in the often volatile meme market.

Table of top 10 DeFi protocols by token holder revenue from DeFiLlama

Breaking Down the Top Protocols

Here's a closer look at the standout performers from the list, with simple explanations of what they do and how they benefit holders:

  • Hyperliquid (Dexes)​: Topping the chart with $18.06M in 7-day revenue. This decentralized exchange (DEX) directs 99% of fees to an Assistance Fund for buying back HYPE tokens. Before August 30, 2025, it was 97%. Hyperliquid's focus on perpetual futures trading makes it a hub for high-volume trades, indirectly boosting meme token liquidity.

  • Pump (Launchpad)​: Coming in second with $16.79M. As a Solana-based launchpad famous for meme coin launches, Pump uses revenue for PUMP token buybacks, with funds going to governance token holders. If you're into memes, this is huge—Pump.fun has democratized token creation, and revenue sharing keeps the ecosystem thriving.

  • Aerodrome (Dexes)​: $5.86M in revenue, all going to governance token holders. Built on the Base chain, which is known for its meme-friendly environment, Aerodrome is a DEX that rewards holders directly, encouraging participation in DeFi activities tied to fun, viral tokens.

  • Jupiter (Derivatives)​: Earning $3.79M, with 50% of revenue (12.5% of total fees) distributed to JUP holders. As Solana's leading DEX aggregator, Jupiter handles a ton of meme token swaps, making it a key player in the Solana meme scene.

  • Pendle (Yield)​: $2.98M, where 80% of revenue goes to vePENDLE holders. Pendle specializes in yield tokenization, allowing users to trade future yields. While not purely meme-focused, it supports strategies that can amplify returns on meme-related investments.

  • Sky (CDP)​: $2.76M through SKY token buybacks and staking rewards. As a collateralized debt position (CDP) platform, it's like a decentralized lending hub, providing stability that meme traders often need.

  • PancakeSwap (Dexes)​: $2.39M, using a tiny 0.0575% for CAKE buyback and burn, plus 40% for facilitating CAKE trades. This multi-chain DEX is a staple for meme launches on chains like BNB.

  • MO (RWA)​: $1.78M, distributing total fees to whitelisted M stakers. Focused on real-world assets (RWA), it bridges traditional finance with crypto, potentially opening doors for meme-inspired RWAs.

  • Curve Finance (Dexes)​: $1.41M, where 50% of trading fees go to users who've vote-locked their CRV. Curve is the king of stablecoin swaps, but its mechanics support liquidity for meme pairs.

  • Etherex (Dexes)​: Rounding out the top 10 with $1.35M, distributing user fees among holders. Likely a play on Ethereum-based exchanges, it contributes to the broader DeFi liquidity that memes rely on.

This data from DeFiLlama's tweet underscores a trend: protocols are prioritizing holder value to foster loyalty. Over 30 days, these figures climb even higher, with Hyperliquid leading at $88.3M.

Why This Matters for Meme Tokens

Meme tokens thrive on community and hype, but sustainable revenue models like these add real value. Take Pump.fun—its revenue sharing directly ties back to the meme economy, where quick launches and trades generate fees that benefit holders. Similarly, DEXes like Aerodrome and Jupiter on meme-heavy chains like Base and Solana ensure that trading fees circle back to the community, potentially funding more meme projects or stabilizing prices.

If you're a blockchain practitioner or meme enthusiast, keeping an eye on these metrics via tools like DeFiLlama can help you spot opportunities. Revenue distribution isn't just a perk; it's becoming a standard that separates serious protocols from the pack.

For more insights into meme tokens and DeFi intersections, check out our knowledge base at meme-insider.com. Stay tuned for updates as the space evolves!

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