Tether has emerged as the leading onchain protocol by revenue, generating $6.31 billion over the past year on a single chain. Circle follows with $1.85 billion, also on one chain. Pumpdotfun, operating on two chains, reported $662 million in revenue, while Phantom, active across four chains, earned $404.8 million. Other notable protocols include HyperliquidX, PancakeSwap, and tradewithPhoton, with revenues of $340.4 million, $332.8 million, and $327.9 million, respectively. The list is rounded out by bullx_io, AxiomExchange, and AerodromeFi, with revenues between $171.4 million and $191.7 million, underscoring the robust financial activity in blockchain and DeFi.