DeFi Just Paid $96M to Token Holders in 4 Weeks — Real Revenue, Not Emissions
Three protocols rewrote the DeFi playbook: - Hyperliquid: $50.95M in rewards — zero dilution, 100% trading fees - Pump.fun: $22.09M via automated buy-and-burn (50/50 fee split) - EdgeX: $23.26M paid despite only $8.26M revenue — highest payout ratio
$ETH-ecosystem DeFi is proving real earnings matter. Protocols sharing fees instead of printing tokens are winning capital rotation. DefiLlama confirms on-chain verified payouts.
Verdict: The next DeFi rotation targets $ETH-ecosystem protocols with verified fee revenue.
