Overview
- DefiLlama data show Hyperliquid, Pump.fun and EdgeX sent a combined $96.3 million to token holders over the latest 30 days, leading monthly holder cash flows across DeFi.
- Hyperliquid returned $50.95 million funded entirely by trading fees through its Assistance Fund, which captures 97% of fees for automated token buybacks and reported zero spend on incentives.
- Pump.fun distributed $22.09 million from $38.81 million in revenue after an April 28, 2026 policy change moved it from a 100% buyback to a 50/50 revenue split that feeds an automated buy-and-burn.
- EdgeX paid out $23.26 million while generating $8.26 million in fees, a gap that points to treasury or incentive reserves, with the token only launching on March 31, 2026.
- The trend points to investors tracking fee coverage and buyback depth as markers of maturity, which may reward protocols with steady usage and expose those subsidizing payouts to sustainability risks.