Hyperliquid allocates $50.95 million for a single month, leading the DeFi yield rankings

According to DefiLlama data as of May 11, over the past 30 days, the decentralized finance (DeFi) platforms Hyperliquid, Pump.fun, and EdgeX together distributed about $96.30 million in earnings to token holders, including Hyperliquid’s distribution of $50.95 million.

Three major platforms’ earnings distribution data over the past 30 days

Based on DefiLlama data, Hyperliquid led the way over the past 30 days with a distribution amount of $50.95 million, with all its earnings distributed to token holders; Pump.fun’s同期 agreement revenue totaled $38.81 million, of which $22.09 million was distributed to token holders; EdgeX’s protocol revenue was $23.26 million, higher than the $8.26 million previously recorded.

Based on DefiLlama annualized data, Hyperliquid’s annualized revenue is about $946 million, Pump.fun about $481 million, and EdgeX about $236 million.

Comparison with major legacy DeFi platforms over the same period

Based on DefiLlama data, over the same 30-day period, Chainlink distributed $4.63 million to token holders, Aerodrome distributed $3.53 million, and Uniswap distributed $3.29 million across 44 blockchain networks. PancakeSwap’s同期 agreement revenue was about $3.94 million, but after paying about $905,260 in liquidity incentives, it actually distributed about $2.48 million to holders.

Andre Cronje’s analysis of the current state of DeFi

DeFi developer Andre Cronje recently posted on his blog that, as of 2026, DeFi is increasingly showing characteristics of mature, well-functioning financial infrastructure. He cited data showing that the stablecoin market led by Tether and Circle has surpassed $320 billion; decentralized spot exchanges (DEX) have monthly trading volume exceeding $160 billion; monthly trading volume for perpetual contract decentralized exchanges is about $540 billion; and lending platforms, including Aave, Morpho, and Maple Finance, currently manage about $28 billion in active loans.

On commenting on the shift of attention toward performance metrics, Robbie Klages said: “If a blockchain can’t make money, investors no longer care whether its TPS is more than 10 times higher.”

FAQ

What were the specific distribution amounts of Hyperliquid, Pump.fun, and EdgeX over the past 30 days?

According to DefiLlama data, over the past 30 days Hyperliquid distributed $50.95 million to token holders, Pump.fun distributed $22.09 million (total agreement revenue of $38.81 million), and EdgeX protocol revenue was $23.26 million; together, the three totaled about $96.30 million.

How large were the distributions from legacy DeFi platforms over the same period?

According to DefiLlama data, Chainlink distributed $4.63 million in the same period, Aerodrome distributed $3.53 million, Uniswap distributed $3.29 million across 44 networks, and PancakeSwap actually distributed about $2.48 million to holders after incentives.

What data did Andre Cronje cite to support DeFi’s financial infrastructure status?

According to Andre Cronje’s recent blog post, the stablecoin market size has exceeded $320 billion, DEX monthly spot trading volume is over $160 billion, perpetual contract DEX monthly trading volume is about $540 billion, and DeFi lending platforms manage about $28 billion in active loans.