Solana

Maker

Dynamic

Meteora

<p>Meteora, the <a href="https://x.com/Solana" rel="noopener noreferrer nofollow">@Solana</a>-based decentralized liquidity protocol and automated market maker (AMM), has generated $51.8M in protocol fees over the past month. The figure puts <a href="https://x.com/MeteoraAG" rel="noopener noreferrer nofollow">@MeteoraAG</a> ahead of several better-known DeFi platforms on a fee basis, and above the network fees collected by <a href="https://x.com/search?q=%24SOL&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$SOL</a> itself.</p>
<h2 id="what-the-fee-numbers-show">What the fee numbers show</h2>
<p>Fee rankings on DefiLlama list Meteora as a DEX that aggregates swap fees across several products. <cite>Those include DAMM V1 and V2 pools, DLMM pools, and the Dynamic Bonding Curve.</cite> A cached version of the DefiLlama fee rankings shows <cite>$51.84m in 30-day fees for Meteora</cite>, compared with <cite>$28.22m in 30-day transaction fees paid by users on the Solana chain.</cite> That snapshot is dated, so readers should check the live dashboard for current figures.</p>
<p>It is worth separating fees from revenue. In DefiLlama's methodology, fees are the total swap fees paid by traders, while revenue is the portion retained by the protocol. On the main Meteora dashboard, DefiLlama recorded <cite>$53.43m in fees over 30 days, of which $6.21m was protocol revenue.</cite> Most of the fee total therefore goes to liquidity providers rather than to Meteora itself. According to Coin Bureau, <cite>fee splits are typically 90% to LPs and 10% to the protocol for standard positions, 80/20 for launch pools, and 50/50 for limit orders.</cite></p>
<h2 id="how-meteora-earns-its-fees">How Meteora earns its fees</h2>
<p>Meteora functions as liquidity infrastructure for Solana. <cite>Traders may not visit Meteora directly, but their swaps can still touch its pools when a routing tool such as Jupiter finds a useful route.</cite> Its Dynamic Liquidity Market Maker (DLMM) is central to that model. Solana Compass notes that <cite>the protocol charges a base fee plus a variable component that rises during periods of high price volatility and falls when markets are calm.</cite></p>
<p>Fee generation has been volatile over time. Solana Compass reports that <cite>by May 2025 Meteora ranked as the highest fee-generating platform on Solana, with $5.37 million in daily fees at the peak.</cite> More recently, a Solana Compass report on Meteora's first-half 2026 community call said <cite>external tokens, those not launched on Meteora's own infrastructure, generated $105 million, or 75% of LP fees.</cite> That suggests the protocol's income depends on broader Solana token trading, not only launch-day activity.</p>
<p>Fee leadership does not guarantee token performance. Meteora's governance and staking token is <a href="https://x.com/search?q=%24MET&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$MET</a>, and its value depends on how much of the fee flow reaches the protocol and token holders. As with any DeFi fee ranking, the numbers can shift quickly with memecoin trading volume and market conditions.</p>
<p><strong>Sources:</strong></p>
<ul>
 <li><a href="https://defillama.com/fees" rel="noopener noreferrer nofollow">DefiLlama: Protocol Fees Rankings</a></li>
 <li><a href="https://defillama.com/protocol/meteora" rel="noopener noreferrer nofollow">DefiLlama: Meteora TVL, Fees, Revenue and Volume</a></li>
 <li><a href="https://solanacompass.com/news/meteora-reports-140m-in-lp-fees-and-32b-in-h1-2026-trading-volume" rel="noopener noreferrer nofollow">Solana Compass: Meteora H1 2026 Community Call</a></li>
</ul>

Meteora is making SERIOUS money.

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