Overview
- DefiLlama data shows Hyperliquid, Pump.fun and EdgeX sent $96.3 million to token holders over the past 30 days using differing payout models.
- Hyperliquid returned $50.95 million funded entirely by trading fees that flow into its Assistance Fund, which buys back tokens and required no user incentives.
- Pump.fun paid $22.09 million from $38.81 million in revenue after switching on April 28 to a 50/50 split that routes half of net fees to an automated buy-and-burn contract.
- EdgeX distributed $23.26 million despite reporting only $8.26 million in revenue, a gap that points to treasury or incentive reserves and raises sustainability questions for a token launched March 31.
- Analysts say DeFi is moving toward measurable earnings and infrastructure-style models, and other protocols also returned funds, including Chainlink at $4.63 million, Aerodrome at $3.53 million and Uniswap at $3.29 million.