Author | Asher, Odaily
Crypto market performance has been weak this year, with altcoins broadly underperforming. Discussion in secondary-market Alpha groups and airdrop communities has cooled from earlier peaks, but meme coins remain one of the few segments that still produce recurring bursts of attention.
Compared with the previous bull run, the market has seen far fewer meme tokens racing to a $50 million or even $100 million valuation shortly after launch. The fast-riches narrative has faded. Even so, new themes still break through from time to time, from CASHCAT on Robinhood Chain to the stock-themed meme token MarsCoin on BNB Chain.
That steady flow of attention has kept token launchpads, wallets, and trading platforms in use. With the odds of retail traders striking it rich on meme coins getting smaller, the more durable question is how much the platforms sitting around issuance and trading are still making from that activity.
Odaily broke the market into two buckets: token issuance platforms and meme trading tools. The figures below, all cited from DefiLlama, show how the leading names in the sector generated revenue over the past 30 days.
Token launch platforms are still capturing the first wave of trading demand
Pump.fun: more than $34 million in revenue over 30 days
Even with meme trading well below bull-market intensity, Pump.fun still cleared more than $30 million in monthly revenue and, according to the report, out-earned Hyperliqud over the same stretch. As of Aug. 11, Pump.fun posted $34.68 million in revenue over the past 30 days on trading volume of $1.718 billion.
The platform’s revenue base is straightforward: newly issued tokens continue to trade on its system. Token creation is currently free, but trades made during the bonding curve stage incur fees. Under Pump.fun’s latest fee schedule, each bonding curve trade carries a total fee of 1.25%, with 0.95% going to the protocol and 0.30% allocated to the token creator. Tokens also pay a 0.015 SOL graduation fee when they leave Pump.fun and move into PumpSwap.
Flap: more than $5.5 million in 30-day revenue, with over 90% from BNB Chain
The recent wave of stock-themed meme tokens on BNB Chain has also lifted Flap. As of Aug. 11, the platform generated $5.58 million in revenue over the past 30 days. Of that total, $5.05 million came from BNB Chain, accounting for more than 90%, while Robinhood Chain contributed $529,000. Trading volume during the same period reached $908 million.
Flap uses a structure similar to Pump.fun, relying on a bonding curve before newly issued tokens migrate to a decentralized exchange. One distinction is that Flap supports not only standard tokens but also Tax Tokens, which let creators set a trading tax. MarsCoin, the recently popular stock meme token, was launched through Flap as a Tax Token. The report notes that DefiLlama’s revenue count only includes the protocol fee and does not include the separate trading tax configured by a Tax Token itself.
Its most direct revenue source remains trading fees generated during the bonding curve stage. On BNB Chain, Robinhood Chain, X Layer, and Monad, the base protocol fee is 1%, meaning the platform collects a cut each time users buy or sell through the curve.
Pons: nearly $5 million in 30-day revenue after briefly leading Robinhood Chain issuance
After meme activity accelerated on Robinhood Chain, Pons quickly became one of the ecosystem’s main issuance platforms. On July 15, Pons launched more than 15,000 tokens in a single day, rising to the top spot among Robinhood Chain token launch platforms for the first time. It stayed ahead for roughly half a month before being overtaken in recent days by Pool.trade and Flap. In the chart referenced in the report, Pons is shown in green, Pool.trade in pink, and Flap in purple.
The jump in issuance volume translated into revenue. As of Aug. 11, Pons generated $18.76 million in platform fees over the past 30 days, with about $4.99 million belonging to the protocol. Based on its 1% trading fee under the V1 model, the report roughly backs into total platform volume of about $1.8 billion.
Pons is a native token launch platform on Robinhood Chain where users can directly create and trade meme coins. The platform has recently rolled out V2. Under that structure, a new token first trades through a bonding curve and, after meeting graduation conditions, moves into Uniswap V4. Fees generated afterward are still distributed under Pons rules.
Pons earns from both issuance and trading. In V1, creating a token costs 0.0005 ETH, while trading launched tokens carries a 1% fee. That fee is not fully retained by Pons: around 70% goes to the token creator and roughly 30% stays with the protocol. With V2, revenue now extends across token creation fees, bonding curve trading fees, and fees produced after graduation into Uniswap V4, while keeping the same approximate 70/30 split between creators and the protocol.
The report also says Pons directs part of protocol income to PONS buybacks and burns. According to official documentation, the current plan is to use 80% of protocol fees for buying back and burning PONS, with the remaining 20% reserved for infrastructure and team operations.
Meme trading tools are monetizing execution and user flow
GMGN: nearly $20 million in 30-day revenue, led by Robinhood Chain
Unlike token launch platforms, GMGN does not handle token creation. Its business centers on trading infrastructure for meme coins, including market data, monitoring, and order execution, and it earns from user trades.
As of Aug. 11, GMGN recorded $2.584 billion in trading volume over the past 30 days and generated $23.87 million in fees. After referral rebates, about $19.81 million was left as GMGN revenue. Robinhood Chain contributed $11.67 million, while BNB Chain and Solana added $4.93 million and $2.41 million, making Robinhood Chain the platform’s largest revenue source at the moment.
The fee model is simple. GMGN charges 1% of trade value each time a user completes a transaction through the platform, with part of that amount redistributed through referral rebates and similar programs. The report gives one example: buying a meme coin worth 1 SOL would result in a 0.01 SOL fee. Copy trading is charged on the same basis.
Axiom: more than $14 million in 30-day revenue, almost entirely from Solana
Axiom operates in a similar category and is widely used by meme traders for token discovery, market analysis, wallet tracking, X monitoring, and one-click execution. Its core market remains Solana.
As of Aug. 11, Axiom posted about $1.337 billion in trading volume over the past 30 days and generated $23.91 million in fees. After referral rebates and user trading cashback, final revenue came to about $14.67 million. Of the gross fees, $23.84 million came from Solana, while BNB Chain contributed only about $66,000, leaving the platform overwhelmingly dependent on Solana-based trading activity.
Axiom mainly earns by charging a fee on user transactions executed through the platform. The base trading fee is 1%, but it also runs a volume-linked rebate system: the higher a user’s trading tier, the larger the return. The current effective net fee rate is about 0.75% to 0.95%. Part of the fee is also paid out to inviters.
fomo: nearly $8.8 million in 30-day revenue, mostly from Solana spot trading
Over the weekend, overseas meme communities circulated gossip that Pump.fun had spent aggressively to poach staff from rival fomo. The report references a related article titled “$20,000 signing bonus + $30,000 monthly salary: what sits behind Pump.fun poaching FOMO staff.”
As of Aug. 11, fomo generated $9.48 million in fees over the past 30 days, of which about $8.79 million accrued to the protocol. Spot trading volume during the same period was about $617 million, and perpetual futures volume was roughly $360 million.
Unlike GMGN and Axiom, which lean more toward professional on-chain trading terminals, fomo puts heavier emphasis on social trading. Users can view other traders’ actions, rankings, and live trading feeds inside the platform, then directly buy, sell, or copy trade meme tokens and other assets. Its spot business is currently concentrated on Solana, with about $8.64 million in 30-day revenue coming from Solana spot trading. Hyperliquid perpetuals contributed about $153,000.
Its revenue model is also transaction-based. Under the platform’s latest terms of service, spot trades are charged at a minimum of 0.5% of transaction value, with a minimum fee of $0.95 per trade. Perpetual trading carries an additional 0.05% platform fee. Because meme traders often make small, frequent transactions, that $0.95 minimum fee forms an important part of fomo’s revenue.