币界网报道：Monthly fees in DeFi have shown resilience in recent months, climbing to around $577 million, a significant recovery from the low of $366 million in April. This 58% increase indicates a resurgence in activity across decentralized finance protocols as market participants gravitate toward on-chain financial services. The surge in fees coincides with an increase in trading volumes and the maturation of DeFi protocols, which have proven their sustainability through various market cycles. Major protocols such as PancakeSwap have emerged as leaders in fee generation, amassing $275 million in fees through its automated market making services and yield farming mechanisms. DeFi platforms offer a competitive advantage by eliminating traditional intermediaries in peer-to-peer transactions, often resulting in lower costs compared to traditional banking fees. Protocol business models have evolved to capture value through a variety of fee structures across lending, trading, and staking services. PancakeSwap generates revenue through trading fees (typically 0.17% to 0.25% per swap), farm and pool fees, and a lottery mechanism, while Uniswap operates on a standard 0.3% trading fee that is distributed to liquidity providers. Lending protocols such as Aave and MakerDAO collect fees through interest rate differentials and liquidation penalties, creating sustainable revenue streams that support billions of dollars in total locked value. The competitive landscape is increasingly fierce as protocols optimize fee generation while maintaining user adoption. Pump.fun’s prominence in the fee chart reflects the boom in memecoin trading, where the frequency of transactions has driven revenue growth despite the low value of individual transactions. This shift toward a decentralized fee collection model shows that protocols are finding sustainable monetization paths without relying on traditional banking intermediaries. This is an excerpt from The Block’s Data & Insights newsletter. Dive into the numbers that make up the most thought-provoking trends in the industry.