#Five DeFi protocols see record-high revenue#
Hot Topic Overview
Overview
In December 2024, the top five DeFi protocols (Ethena, Sky, Aerodrome, Aave, and Lido) generated a combined revenue of $158 million, with four of the protocols setting new monthly revenue records. Ethena led the pack with $56.9 million in revenue, representing nearly 25% of its total annual revenue. Sky also achieved a record-breaking monthly revenue of nearly $40 million, accounting for 13% of its total annual revenue. Aerodrome's December revenue of approximately $38 million was also a record high, representing 15.6% of its total annual revenue. Aave's monthly revenue reached a record $13.6 million, accounting for 16.7% of its total annual revenue. Only Lido's monthly revenue, at $9.6 million, did not set a new record, representing 9.3% of its total annual revenue. These figures indicate that DeFi protocol revenue is steadily increasing and exhibiting strong growth momentum.
Ace Hot Topic Analysis
Analysis
In December 2024, five major DeFi protocols (Ethena, Sky, Aerodrome, Aave, and Lido) collectively generated $158 million in revenue, with four of the protocols setting new monthly revenue records. Ethena led the pack with $56.9 million in revenue, representing nearly 25% of its total revenue for the year. Sky also saw its monthly revenue hit a record high, reaching nearly $40 million, accounting for 13% of its total revenue for 2024. Aerodrome, a DEX on Base, generated approximately $38 million in revenue in December, also a record high, exceeding its previous high by over $5 million and representing 15.6% of its total revenue for 2024. Aave's revenue jumped over $3 million from November to December, reaching $13.6 million, a record high, accounting for 16.7% of its total revenue for the year. Lido was the only DeFi application that did not set a new monthly revenue record, generating $9.6 million in December, representing 9.3% of its total revenue for 2024. The significant growth in revenue for these protocols indicates strong growth in the DeFi space in December 2024 and may foreshadow even stronger growth trends in the future.
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Classic Views
Five DeFi protocols hit record-high December revenue, totaling $158 million.
Among them, four protocols, Ethena, Sky, Aerodrome, and Aave, all saw their monthly revenue hit record highs.
Ethena's December revenue accounted for nearly 25% of its total revenue last year, while Sky's monthly revenue accounted for 13% of its total revenue in 2024.
Aerodrome's December revenue accounted for 15.6% of its total revenue in 2024, and Aave's December revenue accounted for 16.7% of its total revenue last year.