Protocols

Protocol teams and DAOs are adopting consulting-style research frameworks to interpret TVL, bridge flows and token emissions for governance and capital allocation.

Pump.fun and Fomo are posting record weekly fees, but Tether and three other stablecoin issuers still account for 65.7 percent of total tracked protocol revenue.

The non-custodial swap service halted operations indefinitely after months of automated, AI-driven probing outpaced its small development team's ability to patch vulnerabilities.

The closures point to deeper failures in product-market fit as capital flows toward RWA yields and integrated L2 infrastructure