According to TechFlow from Deep Tide, the latest research report from Syndica indicates that the Solana ecosystem experienced significant growth in November, with on-chain revenue reaching $92 million and total DApp revenue hitting a historical high of $365 million. Among them, Pump.fun became the first DApp in Solana to surpass $100 million in monthly revenue, reaching $106 million, accounting for 26% of the total ecosystem revenue. DeFi applications contributed 83.7% of the revenue, with meme coin applications generating over $500 million for the year, a 305-fold increase from $600,000 in January. Revenue from Telegram trading bots doubled to $82 million, maintaining DEX trading volume at 4-5%.
In November, the DEX platform Raydium generated $32 million in revenue, accounting for 86% of the total income of spot DEXs, and repurchased RAY tokens worth $28 million (approximately 5.4 million tokens) to distribute to stakers. Jupiter set a new record with $17 million in revenue from perpetual contract business, with 75% awarded to JLP liquidity providers. The Phantom wallet had an annual revenue of $91 million, while Solflare reached $31 million. The lending platform Kamino Finance achieved a record high revenue of $2.9 million, with 80% coming from lending activities. Payment infrastructure Helio saw its revenue grow sevenfold to $316,000.
