Which protocols are sound businesses?
Protocol | Fees | Revenue | Token incentives | Earnings |
Ethereum | $440.0m | $375.3m | $94.4m | $280.9m |
Bitcoin | $115.5m | $0 | $759.1m | -$759.1m |
Tron | $87.1m | $87.1m | $60.5m | $26.6m |
Uniswap | $60.5m | $0 | $0 | $0 |
Lido Finance | $58.4m | $5.8m | $539.4k | $5.3m |
BNB Chain | $19.6m | $2.0m | $0 | $2.0m |
Convex Finance | $14.2m | $2.8m | $1.1m | $1.7m |
Arbitrum | $10.4m | $1.2m | $0 | $1.2m |
GMX | $9.9m | $3.0m | $217.5k | $2.7m |
PancakeSwap | $9.1m | $3.0m | $7.4m | -$4.4m |
Flashbots | $8.5m | $0 | $0 | $0 |
Venus | $7.7m | $1.7m | $255.3k | $1.5m |
Aave | $7.4m | $981.0k | $250.9k | $730.1k |
OpenSea | $6.4m | $2.6m | $0 | $2.6m |
dYdX | $5.7m | $5.7m | $4.0m | $1.7m |
Level Finance | $5.5m | $3.0m | $5.9m | -$2.9m |
Optimism | $5.3m | $925.5k | $1.4m | -$435.5k |
Polygon | $4.8m | $3.6m | $15.6m | -$12.0m |
SushiSwap | $4.3m | $717.9k | $219.8k | $498.1k |
Blur | $3.7m | $0 | $0 | $0 |
Filecoin | $3.4m | $3.1m | $30.3m | -$27.2m |
Synthetix | $3.4m | $3.4m | $2.3m | $1.1m |
Manifold.xyz | $2.6m | $3.3k | $0 | $3.3k |
Radiant Capital | $2.2m | $1.1m | $27.2k | $1.1m |
Morpho | $2.2m | $0 | $0 | $0 |
Lyra | $2.1m | $0 | $421.2 | -$421.2 |
Aura Finance | $2.1m | $552.6k | $2.4m | -$1.9m |
Avalanche | $1.8m | $1.8m | $100.3m | -$98.5m |
Trader Joe | $1.8m | $100.3k | $25.1k | $75.2k |
MakerDAO | $1.8m | $1.8m | $204.8k | $1.5m |
Kwenta | $1.7m | $0 | $876.8k | -$876.8k |
Compound | $1.7m | $172.2k | $547.4k | -$375.2k |
Gains Network | $1.6m | $1.3m | $0 | $1.3m |
Ethereum Name Service | $1.5m | $1.5m | $0 | $1.5m |
CoW Protocol | $1.2m | $1.2m | $0 | $1.2m |
MUX | $1.2m | $584.6k | $41.5k | $543.1k |
Solana | $1.2m | $585.0k | $47.0m | -$46.4m |
Stargate | $1.1m | $1.1m | $879.3k | $197.1k |
Zora | $1.0m | $375.6k | $0 | $375.6k |
Perpetual Protocol | $1.0m | $200.8k | $277.6k | -$76.8k |
StakeWise | $935.3k | $93.5k | $427.6k | -$334.1k |
Goldfinch | $918.4k | $96.3k | $227.2k | -$130.9k |
LooksRare | $711.1k | $711.1k | $758.1k | -$47.0k |
Tokenlon | $705.4k | $705.4k | $42.4k | $663.0k |
Mummy Finance | $683.1k | $273.2k | $1.2m | -$973.5k |
BendDAO | $648.9k | $194.7k | $385.9k | -$191.3k |
Gamma Strategies | $613.4k | $87.9k | $0 | $87.9k |
Hop Protocol | $582.1k | $527.8k | $204.5k | $323.3k |
Overnight | $562.0k | $180.6k | $0 | $180.6k |
Hegic | $516.4k | $516.4k | $0 | $516.4k |
Cap | $503.1k | $255.6k | $32.5k | $223.1k |
Abracadabra.money | $426.4k | $426.4k | $150.0k | $276.3k |
X2Y2 | $413.6k | $381.0k | $403.0k | -$22.0k |
Synapse | $355.9k | $355.9k | $381.0k | -$25.1k |
Sonne Finance | $332.7k | $46.7k | $251.3k | -$204.6k |
1inch | $320.0k | $320.0k | $3.4k | $316.6k |
Ribbon Finance | $309.6k | $63.4k | $66.5k | -$3.0k |
Premia | $308.2k | $17.0k | $117.8k | -$100.8k |
SpookySwap | $221.0k | $33.2k | $273.0k | -$239.8k |
Alchemix Finance | $196.3k | $196.3k | $1.6m | -$1.4m |
Zyberswap | $196.1k | $21.9k | $204.4k | -$182.5k |
DeFi Saver | $193.1k | $193.1k | $0 | $193.1k |
BENQI | $190.6k | $37.1k | $270.7k | -$233.7k |
SuperRare | $181.8k | $132.1k | $0 | $132.1k |
Across | $180.4k | $0 | $103.4k | -$103.4k |
Velodrome | $155.4k | $165.7k | $4.4m | -$4.2m |
Azuro | $154.6k | $7.7k | $0 | $7.7k |
Liquity | $144.3k | $144.3k | $451.7k | -$307.4k |
Origin Protocol | $123.3k | $15.1k | $102.2k | -$87.1k |
NFTX | $120.5k | $9.3 | $0 | $9.3 |
SX | $115.9k | $115.9k | $69.7k | $46.2k |
Decentral Games | $98.4k | $98.4k | $65.2k | $33.1k |
BetSwirl | $98.3k | $98.2k | $0 | $98.2k |
Equalizer Exchange | $97.6k | $429.4 | $479.6 | -$50.2 |
Sudoswap | $94.8k | $9.5k | $0 | $9.5k |
Metavault.Trade | $94.2k | $28.3k | $152.4k | -$124.2k |
Foundation | $93.4k | $72.5k | $0 | $72.5k |
IPOR Protocol | $88.1k | $1.6k | $214.0k | -$212.4k |
Dogecoin | $83.7k | $0 | $31.1m | -$31.1m |
Bancor | $74.1k | $63.6k | $16.6k | $46.9k |
Sound.xyz | $69.6k | $3.7k | $0 | $3.7k |
Idle Finance | $69.3k | $6.9k | $5.2k | $1.8k |
AirSwap | $64.5k | $64.5k | $0 | $64.5k |
Unipilot | $59.8k | $6.0k | $0 | $6.0k |
Index Cooperative | $59.5k | $59.5k | $2.1 | $59.5k |
ApeSwap | $57.5k | $20.7k | $241.1k | -$220.4k |
Thena | $47.8k | $15.0k | $84.6k | -$69.6k |
Litecoin | $41.1k | $0 | $18.7m | -$18.7m |
UniDex | $37.3k | $14.9k | $0 | $14.9k |
MultiversX | $35.7k | $3.2k | $5.5m | -$5.5m |
Wombat Exchange | $29.6k | $14.8k | $589.2k | -$574.4k |
The Graph | $28.3k | $4.0k | $2.9m | -$2.9m |
Polynomial Protocol | $27.5k | $472.9 | $0 | $472.9 |
Zerion | $24.9k | $24.9k | $0 | $24.9k |
Voltz | $24.7k | $0 | $0 | $0 |
Livepeer | $23.8k | $0 | $1.2m | -$1.2m |
Mycelium | $22.9k | $6.9k | $2.1k | $4.8k |
Lens Protocol | $22.1k | $0 | $0 | $0 |
PoolTogether | $21.5k | $0 | $6.4k | -$6.4k |
Internet Computer | $17.3k | $17.3k | $17.0m | -$17.0m |
DODO | $17.2k | $3.4k | $64.3k | -$60.8k |
Clipper | $16.6k | $6.8k | $0 | $6.8k |
Verse | $16.2k | $2.7k | $329.8k | -$327.1k |
Connext | $12.6k | $0 | $0 | $0 |
Stellar | $12.4k | $12.4k | $0 | $12.4k |
Instadapp | $10.9k | $10.9k | $0 | $10.9k |
Tokemak | $10.8k | $10.8k | $90.8k | -$80.1k |
Vesta Finance | $10.2k | $10.2k | $8.2k | $2.0k |
SolidLizard | $9.5k | $10.4k | $194.9k | -$184.5k |
Integral | $7.9k | $7.9k | $0 | $7.9k |
Deri Protocol | $7.3k | $5.9k | $5.6k | $241.2 |
Thales | $7.1k | $7.1k | $150.6k | -$143.5k |
Tezos | $6.1k | $0 | $3.4m | -$3.4m |
Rarible | $5.6k | $5.6k | $224.0 | $5.4k |
TrueFi | $4.4k | $130.1 | $200.9k | -$200.8k |
Solv Protocol | $4.2k | $4.2k | $0 | $4.2k |
Reflexer | $3.9k | $3.9k | $11.9k | -$8.0k |
DFX Finance | $3.7k | $1.9k | $44.1k | -$42.2k |
Mean Finance | $2.8k | $692.0 | $0 | $692.0 |
Notional Finance | $2.2k | $1.8k | $156.6k | -$154.8k |
Swarm | $1.7k | $0 | $0 | $0 |
Kleros | $1.5k | $0 | $20.4k | -$20.4k |
Quix | $1.0k | $494.0 | $0 | $494.0 |
Mina Protocol | $982.4 | $0 | $6.1m | -$6.1m |
Toucan Protocol | $897.9 | $897.9 | $0 | $897.9 |
Alongside | $746.1 | $746.1 | $0 | $746.1 |
Zcash | $647.8 | $0 | $3.0m | -$3.0m |
Saddle Finance | $538.4 | $0 | $1.0m | -$1.0m |
Volmex | $76.9 | $76.9 | $0 | $76.9 |
ParagonsDAO | $66.3 | $66.3 | $0 | $66.3 |
Cryptex | $26.7 | $26.7 | $5.7k | -$5.7k |
0x | $0 | $0 | $0 | $0 |
Allbridge Core | $0 | $0 | $0 | $0 |
Aragon | $0 | $0 | $0 | $0 |
Euler | $0 | $0 | $2.4k | -$2.4k |
Kapital DAO | $0 | $0 | $0 | $0 |
Ren | $0 | $0 | $0 | $0 |
SynFutures | $0 | $0 | $0 | $0 |