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Here at Lightspeed, we're not fans of measuring a protocol's success through the common metrics of active addresses or total value locked.
Alternatively, fees can be a useful measure of demand for different apps and services. It is possible to play on Blockchain and TVL titles, but the fees are real money that changes hands to do something on the blockchain, at least in theory. So, here are the top 10 Solana protocols this year in terms of fees, based on DeFiLlama Data As of December 27th.
1. Radium – $648 million
It's been a banner year for decentralized exchange Solana, which has benefited from the memecoin fever that has plagued the cryptocurrency world for most of 2024. Some of the defendants The app is a place where memecoins can create fake folders to appear more legitimate, but the numbers tell a clear story. Raydium brought in a significant amount of fees.
2. Gitto - $633 million
Geto Agent Gito Solana He made modifications to MEV and became a reference point for many auditors running Solana. Geto takes 5% of MEV “tips” paid by users for transactions on Solana – which has grown to a huge amount this year as memecoins drive demand for MEV tip payments and real estate transactions on the blockchain.
3. Pump.fun – $308 million
In less than a year of its existence, the memecoin launch platform Pump.fun has generated more than $300 million in fees. Read that sentence again. If we've learned anything this year, it's that crypto users really do truly Want to speculate on tokens?.
4. Photon – $248 million
Trading platform Solana Photon also rode the quarter-billion-dollar memecoin wave. Photon offers memecoin feeds that users can peruse, but the real calling card is speed. Photon Claims Its data comes in 15 times faster than DEX Screener, and it offers a “quick buy” function to reduce friction when trading.
5. bloXroute – $136 million
This was initially a bit of a head-scratcher for me, as I haven't heard bloXroute mentioned very often in the context of Solana. The infrastructure company offers a blockchain distribution network and trader APIs that are largely marketed as a way for traders to get through Solana transactions more quickly.
6. Trojan Horse - $121 million
Trojan introduces the popular Telegram bot that allows users to create a Solana wallet and buy and sell cryptocurrencies, all through the messaging app.
7. BONKbot – $118 million
The team behind the popular Solana memecoin has released BONKbot as a Telegram trading bot that flags memecoin creators in a bear market. It may have some artistic pieces also.
8. Salt Water – $88 million
Marinade offers Solana's third largest liquid ownership token after offerings from Jito and Binance. This year, it is Debuts "Marinade v2" Which brought the auction mechanism to its total quota in the hope of increasing revenues and attracting institutions. some accused Marinade to enable the sandwich to attack in the process.
9. BullX – $85 million
BullX is another memecoin trading platform. It markets itself as offering “fastest indexing,” the process of making blockchain data readable — and something like that Coinbase has struggled with In recent weeks.
10. Camino - $81 million
Kamino is a DeFi protocol that swelled to over $2 billion in TVL in 2024. The app is best known for its borrowing and lending feature, causing some to liken it to Aave of Solana. Notably, Camino has been home to most of the liquidity incentives distributed To try to stimulate adoption of PayPal's PYUSD stablecoin on Solana.
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