Holder Revenue Reaches $12.938 Million, Emerging as a Benchmark in the DeFi Market
The holder revenue metric has emerged as a new comparative standard in the DeFi market. This metric measures the amount of protocol revenue that actually returns to token holders, including buybacks, burns, and distributions to stakers. As of the 29th, according to DeFiLlama's aggregation, the total 24-hour holder revenue across all protocols was $7.53 million (approximately 1.04 billion KRW), while the 30-day holder revenue was $12.938 million (approximately 1.788 billion KRW). The weekly change rate was 69.45%. Among the top protocols, Hyperliquid recorded holder revenue of $48.81 million (approximately 675 million KRW) as of the 30th, while Canton recorded $49.05 million (approximately 678 million KRW). PumpFun was reported at $24.90 million (approximately 344 million KRW) on the 30th. Holder revenue differs from accounting net profit and does not reflect off-chain costs such as operating and development expenses. This metric shows how protocol revenue returns to holders, independent of token prices. However, high holder revenue does not necessarily lead to an increase in token prices. Ethereum is currently voting on its own fee conversion, and if new projects introduce buyback or burn structures, the ranking of holder revenue may change.
-- Price
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