POPA ReconTop Protocols by Revenue in September
Top Protocols by Revenue in September The top ten protocols kept ~$981M in revenue last month, and Tether and Circle took 73% of it: • Tether – $505M • Circle – $207M • Hyperliquid – $55.9M • Pump – $53.1M • GMGN – $40.3M • Fomo – $32.5M • Stonk Fun – $27.4M • Pons – $23.4M • Axiom – $18.4M • Grayscale – $17.8M Put this next to yesterday's fees chart and you can see who keeps what they collect. Uniswap brought in $206M in fees, yet it's missing here entirely, because nearly all of it goes to liquidity providers. Polymarket ($87.3M in fees) is missing too. Pons collected $140M but kept only…
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