DApps (decentralized applications) on the Solana network produced $193 million over the last month, according to data released today by market analyst OxMarioNawfal. This remarkable record shows Solana’s growing impact in the DeFi and Web3 environments. As reported in the data, top Solana applications, including Axiom, Pump.fun, Phantom, Jupiter, Meteora, Raydium, Letsbonk, Photon, Pumpswap, and Gmgn registered higher revenues, showing their increasing popularity in the decentralized ecosystem. This impressive performance is majorly due to increased trading activity on decentralized applications connected to DeFi and meme asset protocols running on top of the Solana blockchain.
Solana Top 10 DApps by Revenue
Axiom
Axiom, a Solana-based decentralized trading platform that enables customers to interact with yield mining, perpetual trading, meme coin trading, and other DeFi mechanisms, is at the top of the list. Axiom exchange registered a massive revenue of $49.1 million over the past 30 days, making it the top outstanding app on Solana.
Pump.fun
Next is Pump.fun, a protocol that allows people to create and trade meme coins on the Solana chain. As per the data, Pump.fun drew a monthly revenue of $41 million. This is evidence that the Launchpad has become a go-to platform for customers who want to interact with meme coins and other virtual assets in a more user-friendly and accessible manner.
Phantom
Phantom, a non-custodial cryptocurrency wallet built on Solana, which enables people to store, send, and obtain Solana-based tokens, also appeared in this list. Phantom also allows users to access various decentralized applications and platforms, like NFT marketplaces and many more. According to the data, Phantom pulled in a monthly revenue of $22.3 million. This performance is due to the huge clients that the multi-crypto wallet attracted over the years. Its strong, simplified interface earned it long-term credibility through its robust security standards.
Jupiter
Jupiter, a decentralized exchange aggregator built on the Solana network that offers crypto customers rapid settlements of token swaps with reduced slippage, secured fourth place in this list. Besides swap trading, Jupiter also functions as a DEX aggregator that allows users to access optimized lending, trading, digital asset management, and user-centric governance. According to the data, Jupiter recorded $15.9 million in monthly revenue, an indicator of a thriving DEX platform, which continues to attract more users and liquidity to the Solana blockchain.
Meteora
Fifth on the list is Meteora, a DEX platform built on Solana that allows people to trade cryptocurrencies with low-cost and fast transactions. It also functions as a liquidity protocol that enhances capital utilization and optimizes profitability for liquidity providers. As stated in the data, Meteora pulled in a monthly revenue of $9.1 million. This is a testimony of Meteora’s outstanding quality service. The DEX is recognized for enabling users to earn yields through various trading activities, making it a top preference for customers who value convenience and capital efficiency.
Other Top Market Performers and Where Do These Revenues Come From?
Other top Solana-based applications that generated impressive revenues over the past month include Raydium, Letsbonk, Photon, Pumpswap, and Gmgn, based on the data. The implication here is that decentralized applications have become vital pillars in blockchain networks. They are not only major drivers of profitability on blockchain networks, but also offer important solutions to DeFi clients.
DApps normally generate revenue by charging a trading fee on every customer transaction. For example, DEXs often charge 0.2% fees on every token swap, with additional fees imposed on advanced services or features offered. For instance, customers may pay fees to secure exclusive access or speed up transaction settlement, and many others. A lesson drawn from this analysis is that with dynamic DeFi and Web3 offerings, people achieve financial prosperity through active participation in the wider decentralized landscape.
