Which protocols are sound businesses?
Protocol | Fees | Revenue | Token incentives | Earnings |
Ethereum | $175.9m | $148.6m | $88.3m | $60.2m |
Tron | $75.7m | $75.7m | $49.1m | $26.5m |
Uniswap | $66.6m | $0 | $14.8 | -$14.8 |
Lido Finance | $47.6m | $4.8m | $1.6m | $3.1m |
Bitcoin | $25.1m | $0 | $737.1m | -$737.1m |
GMX | $20.3m | $6.1m | $1.4m | $4.7m |
BNB Chain | $20.2m | $2.0m | $0 | $2.0m |
Convex Finance | $13.6m | $2.6m | $1.6m | $1.1m |
dYdX | $10.1m | $10.1m | $8.5m | $1.5m |
PancakeSwap | $9.8m | $3.1m | $21.1m | -$17.9m |
Aave | $9.7m | $1.3m | $301.9k | $1.0m |
Blur | $9.3m | $0 | $0 | $0 |
OpenSea | $8.4m | $694.4k | $0 | $694.4k |
Flashbots | $7.1m | $40.2k | $0 | $40.2k |
Arbitrum | $7.0m | $3.1m | $0 | $3.1m |
Venus | $5.8m | $1.2m | $239.8k | $941.7k |
Filecoin | $5.2m | $4.6m | $37.7m | -$33.1m |
Level Finance | $5.2m | $2.8m | $4.6m | -$1.8m |
SushiSwap | $5.2m | $860.9k | $340.3k | $520.6k |
Synthetix | $5.1m | $5.1m | $4.0m | $1.1m |
Curve | $4.9m | $2.4m | $15.2m | -$12.8m |
Trader Joe | $4.6m | $106.4k | $116.2k | -$9.8k |
Polygon | $3.9m | $2.1m | $18.0m | -$15.9m |
Lyra | $3.7m | $0 | $4.7k | -$4.7k |
Gains Network | $2.7m | $2.2m | $0 | $2.2m |
Optimism | $2.6m | $547.8k | $6.7m | -$6.2m |
Aura Finance | $2.6m | $723.3k | $3.1m | -$2.4m |
Kwenta | $2.5m | $0 | $1.1m | -$1.1m |
Compound | $2.1m | $206.9k | $1.3m | -$1.1m |
MakerDAO | $2.1m | $2.1m | $191.7k | $1.9m |
Radiant Capital | $1.8m | $877.1k | $242.5k | $634.6k |
Morpho | $1.5m | $0 | $0 | $0 |
LooksRare | $1.3m | $1.3m | $1.1m | $159.7k |
Ethereum Name Service | $1.3m | $1.3m | $0 | $1.3m |
Goldfinch | $1.2m | $123.7k | $999.9k | -$876.2k |
QuickSwap | $1.2m | $146.9k | $136.4k | $10.6k |
Solana | $1.2m | $581.3k | $42.2m | -$41.6m |
Zora | $1.1m | $523.4k | $0 | $523.4k |
BendDAO | $1.1m | $317.8k | $704.3k | -$386.5k |
1inch | $993.2k | $993.2k | $56.5k | $936.8k |
MUX | $943.8k | $636.5k | $20.4k | $616.1k |
Perpetual Protocol | $924.0k | $184.8k | $288.2k | -$103.3k |
Tokenlon | $885.3k | $885.3k | $31.4k | $853.9k |
Stargate | $814.8k | $814.8k | $1.2m | -$348.7k |
Mummy Finance | $785.6k | $314.2k | $1.8m | -$1.5m |
Liquity | $764.8k | $764.8k | $1.3m | -$493.0k |
Cap | $753.8k | $676.2k | $0 | $676.2k |
Avalanche | $748.5k | $748.5k | $21.1m | -$20.4m |
Hegic | $732.9k | $732.9k | $0 | $732.9k |
X2Y2 | $729.9k | $673.9k | $740.0k | -$66.1k |
Hop Protocol | $726.3k | $612.9k | $441.2k | $171.7k |
CoW Protocol | $660.7k | $660.7k | $0 | $660.7k |
Synapse | $643.8k | $643.8k | $622.3k | $21.5k |
Gamma Strategies | $639.8k | $90.2k | - | $90.2k |
Zyberswap | $624.7k | $122.2k | $2.0m | -$1.9m |
SpookySwap | $619.2k | $92.9k | $419.5k | -$326.6k |
StakeWise | $608.0k | $60.8k | $583.3k | -$522.5k |
Sonne Finance | $540.2k | $73.0k | $595.2k | -$522.1k |
Ribbon Finance | $537.8k | $91.0k | $203.3k | -$112.3k |
Abracadabra.money | $444.7k | $444.7k | $224.5k | $220.3k |
SuperRare | $433.0k | $301.6k | $0 | $301.6k |
Velodrome | $404.9k | $479.1k | $6.5m | -$6.1m |
Premia | $397.3k | $20.9k | $103.8k | -$82.8k |
Equalizer Exchange | $344.2k | $379.7k | $1.4m | -$1.1m |
Across | $322.9k | $0 | $342.3k | -$342.3k |
Thena | $254.4k | $229.7k | $2.9m | -$2.7m |
Alchemix Finance | $253.1k | $253.1k | $886.4k | -$633.3k |
Metavault.Trade | $231.3k | $69.4k | $269.1k | -$199.7k |
DeFi Saver | $225.9k | $225.9k | $0 | $225.9k |
Azuro | $212.7k | $10.6k | $0 | $10.6k |
Bancor | $200.8k | $169.6k | $7.8k | $161.9k |
BENQI | $189.1k | $36.6k | $266.9k | -$230.3k |
Euler | $180.3k | $26.3k | $169.1k | -$142.7k |
Unipilot | $179.0k | $17.9k | $0 | $17.9k |
Voltz | $169.0k | $0 | $0 | $0 |
ApeSwap | $164.9k | $60.2k | $404.3k | -$344.0k |
IPOR Protocol | $157.6k | $3.0k | $791.6k | -$788.6k |
Mycelium | $148.8k | $44.6k | $8.1k | $36.6k |
Origin Protocol | $142.8k | $42.7k | $22.1k | $20.6k |
Sound.xyz | $140.4k | $7.0k | $0 | $7.0k |
BetSwirl | $120.4k | $120.4k | $0 | $120.4k |
SX | $119.6k | $119.6k | $78.5k | $41.0k |
SolidLizard | $106.4k | $113.1k | $2.6m | -$2.5m |
NFTX | $104.8k | $45.0 | $0 | $45.0 |
Foundation | $104.6k | $88.9k | $0 | $88.9k |
Dogecoin | $104.2k | $0 | $30.9m | -$30.9m |
Sudoswap | $101.8k | $15.1k | $0 | $15.1k |
Decentral Games | $97.6k | $97.6k | $106.7k | -$9.2k |
Instadapp | $81.5k | $81.5k | $0 | $81.5k |
Idle Finance | $80.6k | $8.2k | $5.2k | $3.0k |
UniDex | $70.3k | $28.1k | $0 | $28.1k |
Clipper | $67.6k | $29.4k | $0 | $29.4k |
Wombat Exchange | $64.0k | $64.0k | $282.2k | -$218.2k |
Index Cooperative | $57.1k | $57.1k | $96.9 | $57.0k |
Vesta Finance | $53.9k | $53.9k | $90.2k | -$36.2k |
MultiversX | $44.6k | $3.8k | $5.9m | -$5.9m |
Swarm | $42.3k | $0 | $10.0k | -$10.0k |
DODO | $42.3k | $8.5k | $100.8k | -$92.3k |
Notional Finance | $35.2k | $31.7k | $242.3k | -$210.6k |
Lens Protocol | $34.0k | $0 | $0 | $0 |
Litecoin | $33.0k | $0 | $18.6m | -$18.6m |
Livepeer | $30.4k | $0 | $1.0m | -$1.0m |
Zerion | $29.2k | $29.2k | $0 | $29.2k |
The Graph | $29.1k | $3.6k | $3.5m | -$3.4m |
Deri Protocol | $24.5k | $19.6k | $12.6k | $7.0k |
Tokemak | $20.8k | $20.8k | $192.4k | -$171.6k |
PoolTogether | $17.2k | $0 | $200.6k | -$200.6k |
DFX Finance | $16.2k | $8.1k | $101.4k | -$93.3k |
Reflexer | $15.2k | $15.2k | $47.4k | -$32.2k |
Allbridge Core | $13.9k | $2.8k | $0 | $2.8k |
Stellar | $13.8k | $13.8k | $0 | $13.8k |
Verse | $12.0k | $2.0k | $266.2k | -$264.2k |
Connext | $11.2k | $0 | $0 | $0 |
Thales | $9.7k | $9.7k | $225.1k | -$215.4k |
Internet Computer | $8.6k | $8.6k | $17.5m | -$17.5m |
Rarible | $7.5k | $7.5k | $376.2 | $7.2k |
Integral | $7.4k | $7.4k | $5.4k | $2.0k |
Solv Protocol | $6.6k | $6.6k | $0 | $6.6k |
Mean Finance | $4.4k | $1.1k | $0 | $1.1k |
Ren | $2.2k | $0 | $0 | $0 |
Mina Protocol | $2.1k | $0 | $7.7m | -$7.7m |
Alongside | $2.0k | $2.0k | $0 | $2.0k |
Kleros | $1.9k | $0 | $14.7k | -$14.7k |
Saddle Finance | $1.4k | $0 | $1.1m | -$1.1m |
Toucan Protocol | $891.5 | $891.5 | $0 | $891.5 |
Cryptex | $784.6 | $784.6 | $14.7k | -$14.0k |
Quix | $780.0 | $358.7 | $0 | $358.7 |
Zcash | $376.5 | $0 | $3.1m | -$3.1m |
Volmex | $106.0 | $106.0 | $0 | $106.0 |
ParagonsDAO | $7.8 | $7.8 | $0 | $7.8 |
0x | $0 | $0 | $0 | $0 |
Aragon | $0 | $0 | $0 | $0 |
Kapital DAO | $0 | $0 | $0 | $0 |
SynFutures | $0 | $0 | $0 | $0 |
TrueFi | $0 | $0 | $328.6k | $0 |