X @Token Terminal 📊
Token Terminal 📊·2025-09-22 10:44
RT Stacy Muur (@stacy_muur)I'm watching revenue as the signal of where PMF is.On that list, there are a few tokenless protocols.Some generating a TON of revenue.This post is about @AxiomExchange, standing at $30M in 30d revenue.Yes, they earn more than @pumpdotfun.Product or Infra?When you break it down, Axiom is less a "product" and more an "execution infra with a UI." That’s what makes its revenue interesting; it's monetizing flow at every step, not just swaps. While DeFi apps monetize a single action - a ...