Last month, cryptocurrency users gained over $250 million USD from top protocols in the decentralized finance (DeFi) market, according to data from The Block.
This is the highest monthly revenue ever generated by DeFi protocols, which includes Uniswap, Maker, Compound, Aave, SushiSwap, and seven others.
According to the data, the protocols precisely generated about $252 million USD in April revenue. This revenue accounts for the profits made by DeFi token holders as well as protocols’ liquidity providers and other users.
Daily revenue increased by six percent to $8.45 million USD, from April to May. The cumulative DeFi revenue reached about $1.13 billion USD, as of 1 May 2021.
Uniswap Leads DeFi Revenue With Over $113 Million
The leading decentralized exchange (DEX), Uniswap, posted the highest revenue, about $113.66 million USD, followed by Compound ($46.08 million), SushiSwap ($35.23 million), Aave ($24.72 million), Maker ($10.45 million), while the other protocols generated combined revenue of $22.17 million USD.
The increase in the DeFi revenue last month could be attributed to the overall growth of the DeFi market, especially in April.
Following the data provided by DeFi Pulse, the total value of assets locked in decentralized protocols increased by about 40 percent from April to May. The total value locked in DeFi is worth $83.01 billion USD at the time of writing.
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