Maker Protocol tops the list in terms of revenue generated over the past month as the total value locked in the protocol's tokens increases.
According to data provided by Defi Llama, Maker Protocol generated $14.22 million in revenue (it also collected the same amount in fees) in the last 30 days. However, the TVL of stablecoin generator DAI saw a 6.3% decline in the same time period, falling to $7.98 billion.
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Top defi protocol Lido Finance, with a TVL of $21.8 billion, racked up $71.11 million in fees, according to the data aggregator. The liquid staking protocol generated $7.11 million in revenue, 50% less than the Maker Protocol.
Additionally, decentralized wallet platform MetaMask comes in third place with $6.37 million generated in revenue and fees over the past month. Interestingly, MetaMask's average monthly fee amount over the past year was $60.31 million, showing a drop of 89.5% in January.
Leading lending protocol Aave witnessed a 0.16% increase in its TVL over the past 30 days, currently hovering around $6.91 billion with $19.93 million collected in fees. According to Defi Llama, Aave generated $5.94 million in revenue.
On January 18, Aave Labs, the company behind the defi protocol, proposed a new governance plan to integrate the GHO stablecoin into different blockchains, which could potentially increase the utility and liquidity of the asset.
Popular decentralized exchange (DEX) dYdX made this list despite an 18.46% decline in its TVL over the past 30 days, falling to $289.6 million. According to Defi Llama, the DEX generated $4.99 million in revenue in January.
It is important to note that the ethereum blockchain tops the list with revenue of $171.52 million in the last 30 days. According to the data aggregator, ethereum's average monthly revenue over the past year amounted to $119.89 million, showing a 43.1% increase this month.
The global defi TVL has also risen steadily over the past week, rising from $54 billion on January 23 to $58 billion at the time of writing. The rise comes as the cryptocurrency market gains momentum after two weeks of steady declines that came after the bitcoin (btc) ETF approvals.
