Puffer
ZKsync
Pearl
Bitcoin
Ondo
Walrus
Pudgy Penguins
Key Takeaways:
- DeFi platforms like PancakeSwap and Pump.Fun has seen an increase in on-chain fee revenue over the past 30 days.
- Increased meme coin purchases, low fees, and growing trust of DeFi platforms were the main drivers for this growth.
- Snorter Token ($SNORT) is set to benefit as it helps investors sniff out up-and-coming meme coins before they hit the mainstream.
On-chain fee revenues have increased in the DeFi sector over the last few months, with popular P2P platforms like PancakeSwap and Pump.Fun leading the way.
This surge in fee revenue suggests increased adoption among users globally, especially since these platforms charge lower fees than traditional banks.
Increased P2P transactions also point to growing meme coin transactions. This can be a massive plus to Snorter Token ($SNORT), making it easier for investors to find the most promising crypto before it hits the mainstream.
Meme Coins, Increased DeFi Trust Driving Fee Revenue Increase
According to data from DefiLlama, PancakeSwap has earned $380.01M in fees over the last 30 days, with Pump.Fun raking in a healthy $59.99M during the same period.
These numbers are driven by users’ growing trust in these platforms, which translates to increased transaction volume.
It also doesn’t hurt that P2P platforms typically charge lower fees, making them extra attractive to users.
Currently, PancakeSwap’s fee revenue is generated from the 0.25% it charges per trade on its P2P platform.
Their revenue is expected to grow further with the launch of its V3 Liquidity on the Solana blockchain.
Meanwhile, Pump.Fun’s meme coin trading and token launching fees have been the main drivers in its healthy 30-day performance.
Snorter Token ($SNORT) to Benefit From DeFi Usage Surge
With increased activity among meme coin investors comes the need to find the most promising projects before they hit the mainstream.
Bots and whales have almost always dominated the space as individuals don’t have a central tool to do their research, weed out potential scams, trade, and manage their portfolio.
This is where Snorter Token ($SNORT) comes in.
It’s a project aimed at developing Snorter Bot, a Telegram-based crypto trading bot. With this, you can do practically all your trading via the popular messaging platform.
You can use it to manage your portfolio, buy tokens, and look for up-and-coming crypto well ahead of whales and bots.
Snorter Bot also has a honeypot and scam protection feature. Here, the bot checks each token before letting a trade through and blocks potentially malicious ones.
Holding its native $SNORT tokens will provide added perks, such as lower transaction fees, unlimited token sniping, governance rights, and community incentives.
You can also stake your Snorter Tokens to earn passive rewards, with recent reports showing staking returns ranging from 234% to as high as 284% per year. This rate is dynamic and may adjust as more investors lock their tokens into the staking pool.
You can get $SNORT at a fairly affordable price of $0.0975 each at its official presale page. Simply connect your crypto wallet (e.g., Best Wallet) to the presale widget, enter how many tokens you wish to buy, and then pay with your credit/debit card or crypto.
You can check out the Snorter Token whitepaper to learn more about the project.
The Beginning of DeFi Supremacy?
At the moment, it looks like we’re only at the beginning of an even greater surge in DeFi platform usage and the resulting increase in fee revenues.
With platforms like PancakeSwap introducing new features to make it more user-friendly, expect them to profit even more from these fees.
Snorter Token ($SNORT) will benefit from this development. Users are always looking for tools to help them get ahead of the curve, which the project’s Snorter Bot is ready to deliver.
Before you invest in crypto, be sure to do your own research first. This is not financial advice.
