Dashboard
An analytical surface for protocol fees, holder revenue, active protocol breadth, and current-quarter market structure.
Snapshot · June 1, 2026
April–May 2026 observed; Q2 is partial (2 of 3 months) — values are extrapolated ×1.5 where shown.
01 — Overview
Top line, bottom line and breadth of monetization
2026-Q2 fees
top line · extrapolated
$2.7B
−23% QoQ
Distributed to holders
bottom line · extrapolated
$1.5B
−12% QoQ
Active protocols
breadth · QTD
1,445
per May '26
Quarterly fees and value distributed to token holders (left axis, USD billions) and the number of fee-generating protocols (right axis). The shaded band marks the extrapolated quarter, based on the latest available months.
02 — Changes by sector
Which sectors are driving the fee changes?
Two stacked bars compare aggregate fees by sector across periods. Sectors stack bottom→top in fixed order: Blockchains · Middleware · DePIN · DeFi/Finance · Wallets · Consumer. Sankey-style ribbons (sector color, 30% opacity) connect matching segments, the bubble in the middle shows the overall % change, totals sit above each bar, and per-sector dollar amounts are labelled inside the right bar. When the latest quarter has fewer than three months of data, it is linearly extrapolated × 3 / n_observed.
03 — Sector breakdown
How the quarter's fees are distributed across sectors
Sector columns are sized by their share of quarterly fees; category blocks are sized by their share of the parent. Click any sector or category to drill into the protocols within.
04 — Protocol leaderboard
Top 20 protocols for the selected month and metric. The percentage next to each bar is the protocol's relative MoM change in fees. MoM Fee Decline is restricted to protocols whose prior-month fees exceeded $10,000 to prevent tiny denominators from dominating.
05 — Valuations
P/F by sector - quarterly median (IQR for Blockchains & DeFi/Finance)
Each line is the per-protocol P/F ratio (= FDV ÷ annualized quarterly fees) aggregated to the median for that sector and quarter. The shaded bands show the 25th-75th percentile range for Blockchains and DeFi/Finance (other sectors omit the band to keep the chart legible). Y-axis is log scale.
06 — Opportunities
Growth vs. valuations — which protocols offer opportunities
Each protocol is plotted with its 3-month MoM fee growth relative to its category median (y) against its P/F ratio relative to its category median (x). Dot color encodes the protocol's fine-grained category; bubble area scales with quarterly fees. Reference lines at 1× category median on both axes split the chart into four interpretation quadrants.
Sources
Data sources
Every source recorded in the dataset's source field. Fees and revenue are aggregated primarily from DefiLlama and Token Terminal, supplemented by Dune Analytics queries, Flipside Crypto, and protocol- or chain-specific dashboards, stats pages, and block explorers.
Sources
DefiLlama · Token Terminal · Dune Analytics · Artemis · Bitinfocharts · BNB Burn · DePINpulse · Eigenphi · Etherscan · Flipside Crypto · Growthepie · poktscan · Spacescope · Taorevenue · Tronscan · Viewblock.
Snapshot cadence
The current bundle is dated 2026-06-01. 2026-Q1 is a complete quarter. April–May 2026 observed; Q2 is partial (2 of 3 months) — values are extrapolated ×1.5 where shown.
Revenue definitions
Fees measure gross protocol fee activity. Holder revenue reflects net value that accrues to token holders or protocol stakeholders after incentives and passthroughs where the source data supports that distinction.
Coverage
The protocol universe follows the generated revenue export and its category mappings. Coverage is broad enough for market-structure analysis, but individual protocols can lag when public source data is incomplete.
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