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Protocol Revenue Is Not Tokenholder Cash Flow

Covered by 1 source · 1 article

1kx reports on-chain fees near $20B in 2025, yet only ~20 of 1,244 protocols passed $10M+ to holders. Here’s why revenue rarely reaches tokens.

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1kx reports on-chain fees near $20B in 2025, yet only ~20 of 1,244 protocols passed $10M+ to holders. Here’s why revenue rarely reaches tokens.