DeFi protocol fee income fell by 24% in August

BlockBeats news, on September 2, The Block reported that the fee income earned by DeFi protocols in August fell 24.4% from July, hitting the lowest point since February this year.

The fee income in August was significantly lower than the $381.45 million in July, and even much lower than the $494.14 million in March. However, last month's protocol fees were still higher than the $265.18 million in February.

The fee amount is often used to measure the popularity and usage of DeFi protocols. In that month, the DeFi protocol (excluding the base layer) accumulated fees of $288.38 million. Lido had the highest fee income of $76.18 million, followed by Uniswap, Jito and PancakeSwap.