Hey there, crypto enthusiasts! If you're keeping an eye on the decentralized finance (DeFi) world, you’ve probably heard about the latest update from DefiLlama, a go-to platform for tracking onchain data. On July 14, 2025, they dropped a fascinating tweet showcasing the top 10 onchain protocols by revenue over the past year. This list gives us a sneak peek into which projects are raking in the big bucks and shaping the future of blockchain tech. Let’s break it down!

Who’s Leading the Pack?

At the top of the list, we have Tether and Circle, both dominating the stablecoin issuer category. Tether pulled in a whopping $6.31 billion over the past year, with $604.04 million in the last 30 days and $142.48 million in the last 7 days. Not far behind, Circle earned $1.85 billion annually, with $193.37 million in the past month. Stablecoins like USDT (Tether) and USDC (Circle) are the backbone of many crypto transactions, offering a stable value pegged to traditional currencies. Their massive revenue highlights their critical role in the DeFi ecosystem.

Diversified Categories Shine

The list isn’t just about stablecoins—other categories are making waves too. Phantom, a popular wallet provider, generated $404.85 million over the year, showing how essential user-friendly wallets are for crypto adoption. Meanwhile, Hyperliquid and PancakeSwap—both operating across multiple chains—brought in $340.46 million and $332.86 million, respectively. These decentralized exchanges (DEXs) and platforms are key for trading and liquidity, proving that multi-chain support is a game-changer.

For those into trading apps, Photon and Axiom stand out with $327.95 million and $174.36 million, respectively. Even a Telegram bot like BullX made the cut, earning $191.73 million, which shows how innovative tools are finding their niche. Rounding out the list, Aerodrome, a DEX, contributed $171.49 million, reinforcing the strength of decentralized trading platforms.

What Does This Mean for Meme Tokens and DeFi?

As someone at Meme Insider, I can’t help but connect this to the meme token craze. While the top 10 list focuses on established protocols, the revenue trends hint at where meme token projects might find opportunities. For instance, platforms like PancakeSwap, known for supporting meme coins, could inspire new token launches. The data also suggests that diversifying across multiple chains (like PancakeSwap’s 19 chains) could be a smart strategy for meme token creators looking to boost visibility and earnings.

Key Takeaways

• Stablecoins Rule: Tether and Circle’s dominance shows stablecoins are the cash cows of DeFi.
• Multi-Chain Advantage: Protocols spanning multiple blockchains, like PancakeSwap, thrive due to broader reach.
• Innovation Pays Off: From wallets to Telegram bots, diverse tools are carving out profitable niches.

This snapshot from DefiLlama is a goldmine for blockchain practitioners. Whether you’re a developer, investor, or meme token enthusiast, understanding these revenue leaders can guide your next move. What do you think—will a meme token crack the top 10 next year? Drop your thoughts in the comments, and stay tuned to Meme Insider for more crypto insights!