A recent ChainCatcher report highlights that 97.6% of approximately 1,300 DeFi projects failed to generate significant revenue, according to DeFiLlama data. The income distribution follows a power-law pattern, with stablecoin issuers and trading platforms leading the revenue rankings. Tether reported $490 million, Circle $201 million, and Hyperliquid $61 million in earnings. In the past month, only 32 DeFi projects managed to earn over $2 million, representing just 2.4% of the total. Among the projects with notable losses were the MEV protocol Kairos Timeboost, which lost around $200,000, and the options platform Hegic, which saw a loss of approximately $23,000.