DeFi Protocols Set New Revenue Records in December 2024

Top DeFi Protocols Achieve Record Revenues in December 2024

December 2024 proved to be a remarkable month for decentralized finance (DeFi) protocols, with the top five protocols generating a staggering $158 million in total revenue. According to Odaily and data from Token Terminal, several protocols reached all-time monthly highs, marking a significant milestone in the DeFi landscape.

Leading the Pack: Ethena

Ethena emerged as a standout performer in December, generating an impressive $56.9 million in revenue. This remarkable achievement represents nearly 25% of Ethena's total annual revenue of $230.8 million. The platform's continued growth underscores the increasing interest and investment in DeFi.

Sky's Stellar Performance

Sky, previously known as Maker, also set a new monthly record, bringing in nearly $40 million in December. This revenue accounted for 13% of its total annual revenue of $304 million for 2024, just short of $1 million of its previous peak achieved in January 2022.

Aerodrome's Remarkable Growth

Aerodrome, a decentralized exchange (DEX) operating on Base, recorded approximately $38 million in revenue, surpassing its previous high by over $5 million. This performance contributed 15.6% of the platform's total annual revenue of $243.6 million.

Aave's Revenue Boost

Aave also experienced a significant boost, with revenues jumping over $3 million from November to December, achieving a record of $13.6 million. This revenue comprises 16.7% of Aave's total 2024 revenue of $81.4 million.

Lido's Steady Performance

Notably, Lido was the only DeFi application in this group that did not set a new monthly revenue record, reporting revenues of $9.6 million in December. This figure constituted 9.3% of its total annual revenue of $103.6 million for the year.

Conclusion

The exceptional revenue figures recorded by these DeFi protocols highlight the growing adoption and profitability of decentralized finance solutions. As the DeFi space continues to evolve, it will be interesting to see how these platforms adapt and expand their services to attract even more users and generate higher revenues in the future.

For ongoing updates and insights into the DeFi market, stay tuned to our blog and subscribe for the latest trends and in-depth analyses.