The decentralized application (DApp) space continued to show impressive revenue growth in Q3 2024, with a range of platforms across various blockchain ecosystems generating millions.

Here’s a closer look at some of the highest-earning DApps this quarter.

Leading the charge is Pump.fun, a Solana-based platform for minting memecoins, which saw record-breaking growth, generating $262 million. In just one quarter, it became the fastest-growing crypto app in history, driven by a surge of over $100 million in early gains.

Closely following is Sky, the rebranded MakerDAO, with $261 million in revenue. Known for its DAI stablecoin, Sky’s core revenue stream comes from lending DAI to users who lock up crypto assets as collateral, making it a pillar in the DeFi sector.

Aerodrome Finance ($AERO) generated $192 million, capitalizing on Coinbase’s push for on-chain adoption. Hosted on Base, now the largest Ethereum Layer 2 by TVL, AERO’s success reflects Base’s expanding ecosystem.

$ENA Comes Fourth Ahead Of $LDO

Ethena Finance ($ENA) takes fourth place with $112 million. This Ethereum-based protocol saw a boost thanks to its USDe stablecoin, alongside growing interest in its governance token, ENA.

Lido Finance ($LDO) brought in $93 million by making Ethereum staking more accessible, pioneering liquid staking for users deterred by high staking requirements.

Other notable performers include Solana DEXs like Jupiter and Raydium, which earned $75 million and $62 million, respectively, fueled by Solana’s rising popularity and a memecoin boom.

Additional contributors to Q3’s impressive numbers were Aave ($70 million), the BNB Chain’s Pancake Swap ($49 million), and Optimism-based Velodrome Finance ($22 million), highlighting the diversity and growth across different DeFi ecosystems and blockchain platforms.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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