revenue

According to SolanaFloor data, Solana's application revenue reached 49.9 million dollars last week, the highest weekly revenue since mid-2025, which is 2.6 times that of Hyperliquid and 3.9 times that of Ethereum.

According to Blockworks data, the cross-chain liquidity protocol THORChain achieved approximately $381,700 in revenue on September 25, setting a new high since April 25.The day's exchange trading volume reached $211 million, marking the second highest since April 23, only behind approximately $280 million on September 10.

According to data from Defillama, Pump.fun's revenue in the past 24 hours reached 1.96 million dollars, surpassing Hyperliquid's revenue of 1.86 million dollars in the past 24 hours, only behind Tether (17.55 million dollars) and Circle (7.35 million dollars).

According to a report released by Spartan Capital, Robinhood Chain will launch its mainnet on July 1, 2026. By the end of August, the on-chain DEX trading volume had risen to $1.5 billion, with a TVL increasing to $711 million, and on-chain gas revenue in August reached $6.6 million.The report shows that most of the trading volume in August came from Uniswap, with a single-day on-chain fee reaching $2.1 million on August 31. Robinhood is responsible for running the sequencer and receives about 90% of the on-chain fees. After deducting Ethereum settlement costs and the 10% licensing fee paid to Arbitrum DAO, the net income for August was approximately $6 million. Regarding Robinhood Earn, users deposit USDG and borrow through Morpho, with the deposit scale increasing from $9.5 million on July 1 to $456 million on August 31, accounting for 68% of Robinhood Chain's TVL at the end of the month. Users can earn an estimated annualized yield of about 7%, while the yield on the loan side was approximately 3.7% at the end of August, with the difference subsidized by reward funds provided by Morpho and its lending partners.Meanwhile, the Meme ecosystem of Robinhood Chain is growing rapidly. By the end of August, over 340,000 tokens had been issued on-chain, with application layer transaction fees reaching $114 million in August. The report states that the trading volume of Meme and tokenized stock trading pairs is also growing rapidly, with the trading volume of Meme tokens paired with Robinhood Stock Tokens reaching $518 million in August. The report points out that the current trading activity on Robinhood Chain is still mainly driven by crypto-native users, and Robinhood's own 27 million funded accounts have not yet been migrated to the chain on a large scale. The gas subsidies in the Robinhood wallet will continue until September 29, and the Earn yield is also planned to be gradually reduced.

Aerodrome's Slipstream V3 has been launched, introducing protocol-level internal MEV auctions in concentrated liquidity AMMs, distributing the value captured by sandwich bots and arbitrageurs to active liquidity providers and sAERO token holders. The protocol expects related revenue to reach tens of millions of dollars.This version also introduces dynamic fees, automatically increasing fees during market volatility, and continues the concentrated liquidity design of Uniswap V3, achieving capital efficiency up to 4000 times that of traditional AMMs.Aero plans to integrate Aerodrome on Base with Velodrome on Optimism into a single AERO token, set to launch on the Ethereum mainnet in the second quarter of 2026; Aero Lite has launched the Slipstream pool on Circle's Arc, and Dromos Labs is developing pool-level fee rebates and KYC options for institutional clients.

On-chain derivatives protocol Derive announced on X that a new governance proposal has been launched on the Derive forum, aiming to increase the proportion of protocol revenue allocated to DRV buybacks to 50%.Derive stated that community members can review the proposal and share their opinions, and the relevant discussion is now open. DRV is the protocol token of Derive, and this proposal involves the allocation ratio of protocol revenue used for token buybacks.

According to CoinDesk, digital asset investment firm RockawayX announced an investment of $150 million to launch the Catapult program, aimed at bringing more private credit and other yield-generating real-world assets on-chain, betting that lending linked to the real economy will become one of the largest markets in the crypto space.The investment firm, which manages approximately $2 billion, stated that Catapult will provide venture capital, product structuring, liquidity, market making, and distribution support for tokenized credit products. RockawayX currently operates early-stage venture funds, market-neutral funds providing liquidity to DeFi protocols, and a vault business deploying about $300 million, and acquired the crypto hedge fund Relayer in August.According to RWA.xyz data, the scale of tokenized real-world assets such as bonds, stocks, and funds has rapidly grown to approximately $38 billion, but more than half of this is tokenized money market funds. RockawayX expects this market to reach $10 trillion to $20 trillion by 2030, a target higher than the $5.5 trillion benchmark forecast provided by Citigroup analysts. Catapult will focus on areas such as trade and supply chain finance, asset-backed securities, CLOs, and real estate-related credit.RockawayX CEO Viktor Fischer stated that following transactions, yields will become the largest application scenario on-chain, requiring new yield sources of over 12% that are uncorrelated with the crypto market. He pointed out that the appeal of bringing low-liquidity assets on-chain lies in the fact that even if the underlying investments have long redemption periods, market makers can create exit channels.

Recently, BNB Chain and the leading AI project in the 0G ecosystem, NeoSoul, announced the latest business data. As of now, the number of Agents on BNB Chain has exceeded 120,000, with over 3.5 million interactions completed; the subscription revenue for the first month of the NeoTrade product has surpassed $300,000.NeoSoul stated that in the future, it will continue to expand its product line around the real economic activities of Agents, enabling Agents to autonomously participate in the market economy and continuously iterate through verifiable results.

According to a report by The Information cited by Dongcha, two individuals with direct knowledge stated that the artificial intelligence company DeepSeek has an annual revenue of approximately $1 billion, up from less than $500 million a few months ago. The revenue primarily comes from model APIs, and the free chat application currently has no advertising or subscription revenue.The report indicated that part of the revenue growth is due to price increases, with some API prices raised by about 2.3 to 4.5 times. Liang Wenfeng recently told investors that the number of customers did not decline after the price increase, and demand remains strong. Previously disclosed financial data showed that the gross margin for the API business in the first seven months of this year was 82.9%.DeepSeek's second round of financing plans to raise approximately 50 billion yuan, with a valuation of about 500 billion. The company hopes to complete this by the end of October and is also preparing for an IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board. Liang Wenfeng stated that over 70% of the computing power is used for training new models, leaving less than 30% for inference; the company is trying to run more small models directly on gaming graphics cards, reserving high-end chips for training.

The All-China Federation of Industry and Commerce organized the 28th large-scale survey of private enterprises, with a total of 6,350 companies participating that have an operating income of over 1 billion yuan in 2025. Among them, the top 500 companies by operating income are the 2026 China Private Enterprises Top 500. In 2025, the total operating income of the Top 500 private enterprises reached 44.93 trillion yuan, with an average of 8.9851 billion yuan per household, an increase of 4.35% compared to the previous year; total assets reached 53.74 trillion yuan, with an average of 10.7479 billion yuan per household, an increase of 5.05%. A total of 29 companies made it to this year's Fortune Global 500 list.The net profit of the Top 500 private enterprises was 1.83 trillion yuan, with an average of 3.652 billion yuan per household, an increase of 1.31%. The proportion of companies in the secondary industry and manufacturing industry accounted for 74.40% and 70.60%, respectively, with the total operating income of the manufacturing industry reaching 32.22 trillion yuan, an increase of 8.73%. The actual reported total R&D expenditure of enterprises was 1.26 trillion yuan, with an average R&D investment intensity of 2.95%; total exports reached 1.97 trillion yuan, an increase of 11.25%; total tax payments amounted to 1.30 trillion yuan, and the total number of employed persons was 11.9633 million.

Subnet Summer announced that the August edition of the SubConnect Bittensor Revenue Index shows that Bittensor has officially entered the "Revenue Era." Currently, 24 to 25 subnets are generating actual commercial revenue, and it is expected that by the end of the year, the number of revenue-generating subnets will increase to 35 to 40; the total annual ecosystem revenue is estimated to be between 28 million and 35 million USD, and it is expected to exceed 100 million USD by the end of 2026.In addition, revenue is beginning to provide direct financial support for the token economy. About 14 subnets have launched revenue-driven Alpha token buyback programs, which are expected to reach 20 to 25 by the end of the year. Business activities are concentrated in three major areas: infrastructure, enterprise-level AI, and applied AI. The report points out that the criteria for measuring subnet maturity are increasingly shifting towards customer adoption rates rather than benchmark scores. Token releases have provided funding support for the first phase of Bittensor, while customers are beginning to fund the next phase.

The decentralized bandwidth sharing and AI data infrastructure project Grass announced that its wholly-owned subsidiary Grass DataCo Ltd. provides data infrastructure to cutting-edge model training AI laboratories and released an independent revenue verification completed by Regen Financial, covering until the second quarter of 2026. Grass stated that the revenue generated from customer contracts goes directly to Grass DataCo Ltd., rather than Wynd Labs; Wynd Labs is an independent vendor that assists in product development and engages in sales and marketing, and this structure is designed to keep DataCo's revenue within the Grass ecosystem.The verification document shows that it reviewed 100% of the work orders for two periods and traced them back to cash receipts: Period One is from March 14, 2025, to December 31, 2025, with a reported revenue of approximately $17.5869 million, and cash receipts verified at approximately $16.2395 million; Period Two is from January 1, 2026, to June 30, 2026, with a reported revenue of approximately $14.5276 million, and cash receipts verified at approximately $11.3514 million. The total reported revenue for both periods is approximately $32.1145 million, with verified cash of approximately $27.5909 million, and the discrepancy of approximately $4.5236 million is explained as the portion that has not yet been independently confirmed through cash receipts as of the program date, largely related to long-term contract deliveries and an approximately 60-day payment cycle. The document also notes that this is a due diligence procedure and not an audit or assurance engagement, and it does not express an opinion on the overall financial statements.Grass stated that it will reinvest most of its revenue back into the business; it has pre-purchased computing and storage for 2025, claiming that this move has reduced network operating expenses by an average of over $2.5 million per month, and it states that this is one of the direct reasons for achieving profitability at present. The project claims it will continue to build the ecosystem centered around tokens and will consider financial transparency as part of establishing trust with network participants and token holders.

The social media platform X has filed a lawsuit in London against two British residents, accusing them of defrauding the company through the Creator Revenue Sharing program. X Internet Unlimited Company and X Corp. stated in the lawsuit that Vivek Kumar Sen, Zamyang Sherpa, and unidentified accomplices operated multiple X accounts in collaboration, using likes, retweets, and replies to create a false impression of genuine interaction to increase their share of revenue from the program. X was acquired last year by Elon Musk's artificial intelligence company xAI for $33 billion.The plaintiffs named a total of 9 accounts, including @Vivek4real_, @Bitcoin_Teddy, @saylordocs, @TrendingBitcoin, @Kalshibacktest, and @PolyBackTest. X accused several accounts of posting identical or highly similar cryptocurrency-related content within minutes of each other, with one post interval being only 11 seconds; at the same time, these accounts had overlapping financial and identity information, such as the Stripe account associated with @Bitcoin_Teddy being registered under the name "Stefan Mann," while the associated bank account and email both belonged to Sen.X claimed it suffered a loss of £207,384 (approximately $277,000) due to program expenditures and is seeking at least £75,000 (approximately $100,000) for investigation, analysis, remediation, and prevention of further violations.

On September 21, Amazon Web Services (AWS) under Amazon's cloud technology integrated the open-source large model Kimi K3 into its large model service platform Amazon Bedrock, allowing global enterprise developers to directly call it through Bedrock. The previously rumored revenue-sharing cooperation between Kimi and overseas cloud vendors has officially materialized.According to Yicai, Kimi's developer, Dark Side of the Moon, is advancing revenue-sharing cooperation with several overseas cloud vendors, who will list the Kimi model on their platforms and share revenue based on the model's usage with Dark Side of the Moon. Additionally, according to official information from Alibaba Cloud's Bailing platform, Kimi K3 has been listed on Alibaba Cloud Bailing, and both parties have reached a similar cooperation.

According to data from DeFiLlama, the token issuance platform StonkFun on the Solana chain has generated protocol revenue of 4.85 million USD in the past 7 days, surpassing the 4.39 million USD of the meme coin issuance platform Pons on Robinhood, currently ranking 10th in protocol revenue.

The American research institution Rhodium Group estimates that the total annual recurring revenue (ARR) of China's AI models is only about 10% of the revenue of OpenAI and Anthropic. DeepSeek's ARR is $500 million, MiniMax's is $800 million, Moonshot's is $1 billion, and Z.ai's latest ARR is $1.8 billion. Even with ByteDance's $4 billion and Alibaba's $2.4 billion added, it is still far below OpenAI's $40 billion and Anthropic's $65 billion.The Rhodium report states that Moonshot and DeepSeek are currently overvalued relative to their revenue, with estimated ratios of 50 times and 163 times, respectively, higher than OpenAI's 34 times and Anthropic's 21 times. Z.ai has raised its full-year ARR expectation to $3 billion. Rhodium partner Logan Wright stated that the financing gap means that China's leading AI laboratories will find it harder to expand sustainably, and they will heavily rely on favorable conditions in the equity market. Over 60% of China's AI chip and server equity investments come from state-related sources.

According to Substrate's report on September 18, the semiconductor and AI infrastructure research organization SemiAnalysis is expected to exceed $100 million in revenue this year, with a workforce of about 100 people. Its founder Dylan Patel started in 2020 with a WordPress blog, and in 2023, revenue reached seven figures, with subscription income accounting for less than 5% of total revenue, the vast majority coming from data models, institutional research products Core Research, and consulting services. The company currently has 12 models covering areas such as networking, wafer fabrication equipment, foundry, and energy, with about 50 analysts.SemiAnalysis's clients include most of the large tech companies globally, with Nvidia CEO Jensen Huang, AMD CEO Lisa Su, Meta CEO Mark Zuckerberg, Microsoft CEO Satya Nadella, and OpenAI CEO Sam Altman among its readers. Its CoWoS and HBM supply chain models have predicted Nvidia shipping 400,000 H100 chips each quarter, and OpenAI used its InferenceX as a third-party benchmark when releasing its self-developed chip Jalapeño at Hot Chips.Dylan Patel recently raised $500 million for the SemiAnalysis Capital Fund I for early-stage startup investments. The company plans to expand into the energy sector, and analysts will engage with various stakeholders related to different power grids and utilities.

Geoff Kendrick, the Global Head of Digital Assets Research at Standard Chartered, stated that ARB is expected to reach $10 by the end of 2030. This prediction is based on a reference price of $0.14, which is approximately 48 times the current price of $0.21; its annual targets also include $0.5 in 2026, $1.5 in 2027, $3.5 in 2028, and $6.5 in 2029.Arbitrum's monthly revenue is expected to reach $5 million, more than five times the growth before the launch of Robinhood Chain. Robinhood Chain launched its public blockchain mainnet on July 1, based on the Arbitrum platform, targeting tokenized assets and decentralized finance applications; according to the Expansion Program, 10% of the protocol's net revenue is returned to the Arbitrum ecosystem, with 8% going to the ArbitrumDAO treasury and 2% supporting the Arbitrum Developer Guild.ARB is the ERC-20 governance token used for voting on ArbitrumDAO proposals, and currently does not represent ownership of on-chain assets, nor does it have a mechanism for directly capturing Arbitrum revenue. Standard Chartered pointed out that the slowdown in the tokenization process, competitive blockchains, and the lack of a direct value capture mechanism for ARB are the main risks facing this prediction.

According to sources, Anthropic's annual revenue is expected to exceed $100 billion this year, up from $65 billion in July. The company is seeking an IPO, with a valuation that could reach $2 trillion, potentially starting stock trading as early as November.Investors expect computing power to reach 5 gigawatts by the end of the year, doubling by the end of next year to be comparable to OpenAI.