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The total fees accrued from the leading 10 DeFi dApps tracked by DefiLlama are projected to reach $4.8 billion annually, based on the activity observed in the last 24 hours. In various categories such as staking, decentralized exchanges (dexes), lending, and wallets, $13.15 million in fees were collected over the past day.
| Name | Category | 24hr Fees | 24hrs Revenue |
|---|---|---|---|
| Lido | Liquid Staking | $3.38m | $337,749 |
| Uniswap | Dexes | $2.62m | $0 |
| PancakeSwap | Dexes | $2.1m | $426,372 |
| Curve Finance | CDP | $1.54m | $659,343 |
| AAVE | Lending | $1.2m | $172,860 |
| Maker | CDP | $1.08m | $545,105 |
| Raydium | Dexes | $1.01m | $124,524 |
| Trader Joe | Dexes | $623,784 | $69,357 |
| MetaMask | Wallets | $391,846 | $391,846 |
| Camelot | Dexes | $271,722 | $63,802 |
Nevertheless, the total revenue for the previous day stands at only $2.78 million, which represents 21% of the total fees.
Lido leads in fee generation, while Curve maintains the top position for revenue, with Maker and Lido following closely. Significant discrepancies between fees and revenue are evident in Aave and Raydium, which both generated over $1 million in fees in the last day, yet their revenues were $172,860 and $124,524, respectively.
It is noteworthy that although Uniswap ranks second in fee generation, DefiLlama indicates $0 in revenue, as Uniswap facilitates fee collection without retaining these fees as revenue for the protocol. Instead, the fees enhance the value of liquidity tokens, serving as a distribution to all liquidity providers in proportion to their share of the pool.
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Discussions and proposals have emerged within the Uniswap community regarding the introduction of a “protocol fee,” which could be activated by UNI governance. This fee would enable the Uniswap protocol to generate revenue by capturing a portion of the swap fees that would typically be allocated to liquidity providers.
The poll served as an initial step, a “temperature check,” which passed with a ratio of 55 million to 144, indicating that the upgrade has not yet been enacted. Consequently, Uniswap does not account this as revenue.
The current DeFi market boasts a total market capitalization of $101 billion according to CryptoSlate data, with the sector experiencing a 5% increase over the past day. Data from DefiLlama reveals that the resurgence in DeFi’s market cap has not yet reached its 2021 highs. However, trading volumes have risen to comparable levels, indicating a more stable trend. Over the last month, volumes around $10 billion have become common after starting the year near $5 billion.
DeFi volumes and TVL (Source: DefiLlama)
The post Top 10 DeFi dApps generating an average of $4.8 billion in fees annually appeared first on CryptoSlate.
