S: @HyperliquidX: Hyperliquid consistently prints tens of millions in monthly revenue, with almost 100% of it flowing directly to HYPE holders through buybacks and AF. One of the cleanest models in crypto. @JupiterExchange: Jupiter is now a top revenue engine on Solana, pushing multi-million monthly fees into JUP staking and JLP LPs. Clear fee flow & real tokenholder value providing. @SkyEcosystem: Sky is currently doing around $10M in monthly protocol revenue, with most of that of that flowing to users via the Sky Savings Rate (SSR) and sUSDS. @ether_fi: EtherFi consistently delivers multi-million monthly revenue mostly from ETH restaking (Cash product growing), with a meaningful share flowing to weETH stakers. It’s the cleanest LRT revenue → users loop in this sector. @CurveFinance: Curve still captures solid low 7-figs revenue and distributes the most through veCRV, gauges, and LP incentives. Revenue isn’t explosive, but the value path to users is clear. @OREsupply: ORE vaults have been generating steady six-figure monthly revenues across BTC yield strategies, and depositors directly benefit from these real yield flows. Gud user-first cashflow design. A: @dYdX: dYdX generates seven-figure monthly fees, and V4 routes a part revenue to stakers, just less aggressively than the S tier projects. Still a strong model with tokenholder value. @pendle_fi: Pendle generates ~$2m monthly revenue with ~80% going directly to vePENDLE lockers. It’s one of crypto’s cleanest yield engines. @SolvProtocol: Solv’s BTC vaults and structured yield products generate consistent six-figure monthly protocol revenue shared with depositors. High potential, strong fundamentals. @aave: Aave earns multi-million monthly revenue across its lending markets, with a smaller portion flowing to holders. Basically a huge business with moderate tokenholder capture. @Raydium: Raydium captures high Solana DEX activity with consistent six-figure monthly fees, mainly rewarding LPs. Solid and proven revenue engine, just smaller than JUP. B: @VelodromeFi: Velodrome generates mid six-figure monthly revenue, with veVELO holders receiving the biggest slice via emissions and bribes. Strong model, but smaller numbers. @QuickswapDEX: QuickSwap captures steady volume as a leader on Polygon with six-figure fee flows to LPs. Gud tek, but at a lower scale than Uniswap, Raydium, Jupiter, etc. @etherexfi: EtherEX collects consistent fees from LRT + restaking strategies and redistributes them to participants. Solid early revenue traction, but not yet a major player. @GMX_IO: GMX V2 still steadily generates mid six-figure monthly revenue for GLP and GMX stakers. Proven fee model, but market share has dropped with new perps protocols emerging. C: @RenzoProtocol: Renzo earns modest revenue from its LRT operations and uses a smaller portion for buybacks/staker rewards. Good design, the numbers are still in the low 6-figs. @orca_so: Orca collects consistent but small DEX fees on Solana. Good product but limited revenue numbers. @LFJ_gg: LFJ generates some structured yield and restaking income, but volumes and fee capture have been decreasing and lagging for the past months. @GainsNetwork_io: Gains does sub-million monthly perps revenue, a portion of which goes to GNS stakers. Real money, but significantly smaller than top players. D: @MYX_Finance: MYX had billions in perp volume over the last month but generated only $16–17k in protocol revenue, with ~$280 going to stakers as holders revenue. @synthetix: Synthetix today is only generating about $1k of protocol revenue over the last 30 days. It used to be a huge rev machine, but right now the current revenue stream is tiny. @Frax: Frax generates conservative mid 5-figures in revenue, while most of it is shared with tokenholders, I don't see signs it can compete in the big league. @Tether_to: USDT reserves generate hundreds of millions per month in income. Zero distribution to stablecoin holders → fck them. D tier. What protocol did I miss? Hope you enjoyed this post and found some new VALUABLE information. If you wanna support me, I'd appreciate a like, reply, and RT <3