If you’re into the wild world of cryptocurrency, you’ve probably heard about the latest buzz on X. On July 1, 2025, Stacy Muur, a well-known voice in the crypto community, dropped a fascinating thread showcasing 36 blockchain protocols raking in over $1 million in monthly revenue. This list, sourced from Token Terminal, is like a treasure map for anyone trying to figure out which projects have truly cracked the code of product-market fit in the decentralized finance (DeFi) space.

What’s the Big Deal About This List?

Imagine running a business where you consistently pull in a million dollars a month—that’s the kind of success these protocols are seeing! Stacy’s post frames this as a sign of "product-market fit," meaning these projects aren’t just hype; they’re delivering real value to users. The image accompanying the tweet is a colorful grid of logos, featuring big names like Ethereum, Solana, and even some meme token-related platforms like Pump.fun. It’s a visual feast that makes you want to dive deeper.

Who Made the Cut?

The list spans a diverse range of protocols, from established players to emerging stars. Here’s a quick rundown of some highlights:

• Ethereum and Tether: Giants in the crypto world, showing their staying power.
• DeFi Stars: Names like Uniswap, Curve, and Aave dominate the decentralized exchange and lending scene.
• Meme Token Favorites: [Pump.fun] and Pancake Swap bring a fun twist, proving meme tokens can generate serious revenue.
• New Kids on the Block: Projects like Jito and Orca are making waves, especially in the Solana ecosystem.

With only 36 names on the list, it’s clear that hitting this revenue milestone is no small feat. The thread sparked a lively debate, with users like @MikeSilagadze pointing out that DefiLlama might offer a broader view, while others questioned the accuracy, noting missing protocols like JupiterExchange.

Why Revenue Matters More Than TVL

Traditionally, Total Value Locked (TVL) has been the go-to metric for measuring a protocol’s success. But as the crypto market evolves, revenue is stealing the spotlight. Why? Because TVL can be skewed by a few big investors (or “whales”), while revenue reflects actual usage and profitability. Stacy’s list aligns with this shift, giving us a snapshot of protocols that are not just popular but also financially robust.

The Debate Heats Up

The thread didn’t come without controversy. Some users, like @TheDeFinvestor, called out Uniswap for allegedly funneling value to its labs rather than the protocol itself. Others, like @Geninsus, wondered why aggregators like Jupiter weren’t included, suggesting the data from Token Terminal might not be complete. Stacy herself responded, acknowledging the gap and hinting that Jupiter’s revenue might not be tracked yet. This back-and-forth shows how dynamic and community-driven the crypto space is!

What This Means for Meme Tokens and Beyond

At Meme Insider, we’re particularly excited to see meme token-related platforms like [Pump.fun] on the list. It’s a reminder that even the playful side of crypto can turn into serious business. For blockchain practitioners, this list is a goldmine for understanding which technologies and ecosystems—like Solana or Ethereum—are thriving in 2025.

Final Thoughts

Stacy Muur’s thread is more than just a list—it’s a conversation starter about what success looks like in DeFi. Whether you’re a casual crypto fan or a seasoned developer, keeping an eye on these protocols could give you an edge. What do you think—did your favorite project make the cut? Drop your thoughts in the comments, and let’s keep the discussion going!