PANews reported on December 18 that according to Syndica's latest research report, the Solana ecosystem saw significant growth in November, with on-chain revenue reaching $92 million and total DApp revenue hitting a record high of $365 million. Among them, Pump.fun became Solana's first DApp to exceed $100 million in revenue in the first month, reaching $106 million, accounting for 26% of the ecosystem's total revenue. DeFi applications contributed 83.7% of the revenue, of which Meme coin applications had annual revenue of over $500 million, a 305-fold increase from $600,000 in January. Telegram trading robot revenue doubled to $82 million, accounting for a stable 4-5% of DEX trading volume.
DEX platform Raydium's revenue in November reached $32 million, accounting for 86% of the total revenue of spot DEX, and repurchased $28 million (about 5.4 million) of RAY tokens to distribute to stakers. Jupiter set a new record of $17 million in revenue through perpetual contract business, of which 75% was rewarded to JLP liquidity providers. Phantom Wallet's annual revenue reached $91 million, and Solflare reached $31 million. Lending platform Kamino Finance's revenue reached a new high of $2.9 million, of which 80% came from lending business. Payment infrastructure Helio's revenue increased 7 times to $316,000.
