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Arbitrum Protocols Generate $5.5M in Revenue Despite Slight Monthly Decline
According to the latest revenue breakdown provided by Entropy Advisors, Arbitrum protocols have generated a staggering $5.5 million in revenue for the month of May, despite experiencing a slight decline compared to previous months.
The data shows that derivatives continued to dominate the scene, raking in an impressive $3.18 million, with GMX retaining its position as the top spot. Gains Network followed closely behind, reporting a respectable $603,000 in revenue, while Ostium Labs took fourth place with $530,000.
Meanwhile, yield protocols saw steady inflows, with Penpie emerging as the clear winner, bringing in an impressive $497,000. Beefy Finance and Pendle Finance also reported notable figures of $109,000 and $89,000 respectively, highlighting a growing demand for platforms that allow users to easily optimize for yield while also offering reasonable automation.
On the decentralized exchange (DEX) front, Uniswap maintained its position as the leading player, generating $223,000 in revenue. Other notable DEXs such as Mayan Finance and Camelot DEX are also making progress, with figures of $109,000 and $88,000 respectively.
The data suggests that Arbitrum’s DeFi network is witnessing a significant shift towards sector fragmentation, with newer entrants bringing new liquidity models and incentives to the table. This trend is likely to reshape revenue dynamics in the coming months, as users increasingly opt for platforms offering unique features or better fees.
Despite the slight decline, the community remains vibrant, with many building, exploring, and using the protocols on the network.
Source: nulltx.com
