當加密應用程序成為新的搖滾明星時，超流動性（HYPE）排名第一

Crypto不再只是在您的數字錢包中hodling比特幣，而是一個完整的競技場，應用程序是新的搖滾明星。

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Crypto’s no longer just about holding Bitcoin in your digital wallet—it’s a full-on arena where apps are the new rock stars. Five token-backed apps raked in a cool $95 million in April 2025, according to DeFiLlama. This crypto news came as a positive sign for the larger market.

Crypto不再只是在您的數字錢包中拿著比特幣，這是一個全面的競技場，應用程序是新的搖滾明星。根據Defillama的數據，五個像徵支持的應用在2025年4月以涼爽的9500萬美元的價格收穫。這個加密新聞是對大型市場的積極信號。

These platforms—Hyperliquid (HYPE), Maker/Sky (MKR/SKY), Jupiter (JUP), PancakeSwap (CAKE), and Aerodrome (AERO)—are reshaping how value flows in crypto.

這些平台（Hyperliquid（Hype），Maker/Sky（MKR/Sky），Jupiter（Jup），Pancakeswap（蛋糕）和機場（Aero）（Aero）（Aero）正在重塑加密貨幣中的價值。

Axiom’s $13.34 million weekly revenue hints at new challengers. This revenue race suggests apps are becoming the heart of crypto’s future, but volatility and strategy changes keep the stakes high.

Axiom的每週收入為1334萬美元，這暗示了新的挑戰者。這項收入競賽表明，應用程序已成為加密未來的核心，但是波動和策略的變化使賭注很高。

Investors can track revenue to spot winners, but big spenders like Aerodrome raise questions about sustainability.

投資者可以跟踪收入以發現獲獎者，但是像機場這樣的大型支出提出了有關可持續性的問題。

Hyperliquid (HYPE) Takes The Top Spot

超流動性（炒作）排名第一

Hyperliquid (HYPE) held the crown with $40.94 million in revenue. Its perpetual market—think futures that never expire—is a trader’s playground. But the champ’s showing wear.

Hyproliquid（Hype）的收入為4094萬美元。它的永恆市場 - 想到永不過期的期貨 - 是一個商人的遊樂場。但是冠軍的表現。

Revenue dropped $1.1 million from March, and its Ethereum perps share fell 1%, according to DeFiLlama. That’s still miles ahead of the competition, but it’s a nudge that even giants can stumble when rivals get hungry.

根據Defillama的數據，收入比3月份下降了110萬美元，其以太坊PERPS份額下降了1％。在比賽之前，這仍然是幾英里的，但是當競爭對手餓時，即使巨人也可能會絆倒。

Maker/Sky (MKR/SKY)

製造商/天空（MKR/天空）

Maker/Sky (MKR/SKY) pulled off a stunner, jumping from fourth to second with $15.76 million. That’s a $2.76 million boost from March.

Maker/Sky（MKR/Sky）脫離了一個震驚者，以1576萬美元的價格從第四名到第二。從3月起，這是276萬美元的提升。

Its DeFi lending platform, built around stablecoin loans, is clicking with users. The climb shows there’s room for steady players in a market that loves flash. But at less than half Hyperliquid’s haul, Maker/Sky’s got a long road to the top.

它的Defi Lending平台圍繞Stablecoin貸款構建，正在與用戶點擊。攀登表明，在一個熱愛Flash的市場中有穩定的球員的空間。但是在不到一半的超級流動性運輸量時，Maker/Sky's的路走到了頂部。

Jupiter (JUP)

木星（jup）

Jupiter (JUP) clung to third place, banking $15.17 million. It’s down $4.53 million from March’s $19.70 million—a 23% hit.

木星（jup）緊緊抓住第三名，銀行1517萬美元。它比3月的1,970萬美元下跌了453萬美元，命中率為23％。

Yet, it didn’t budge from its podium spot. Why? Its Solana-based liquidity aggregation keeps trades smooth and cheap.

然而，它並沒有從領獎台上擺脫困境。為什麼？其基於索拉納的流動性匯總使交易保持平穩和廉價。

PancakeSwap’s bigger fall helped, but Jupiter’s resilience is its own story. Still, that revenue slide needs a fix, or it risks losing ground.

Pancakeswap的更大跌倒有所幫助，但木星的韌性是其自己的故事。儘管如此，該收入幻燈片仍需要修復，否則它可能會失去基礎。

PancakeSwap (CAKE) Back in Crypto News Again

pancakeswap（蛋糕）再次回到加密新聞

PancakeSwap (CAKE) took a beating, sliding from second to fourth with $14.44 million. That’s an $8.26 million drop—36% less than March’s $22.70 million.

pancakeswap（蛋糕）擊敗，以1444萬美元的價格從第二至第四。這是一筆826萬美元的跌幅，比3月的2270萬美元低36％。

Its AMM model, once a DeFi darling, is losing steam. Newer platforms like Aerodrome and Axiom are outpacing it. PancakeSwap’s fall is a wake-up call: innovate or get left behind in crypto’s relentless race.

它的AMM模型曾經是Defi Darling，正在失去蒸汽。諸如機場和公理等較新的平台正在超過它。 Pancakeswap的秋季是一個叫醒電話：創新或落後於加密無情的比賽。

Aerodrome (AERO)

機場（Aero）

Aerodrome (AERO) crashed the top five with $8.57 million, shoving Uniswap aside. But here’s the twist: it spent $15.4 million on incentives, according to Token Terminal data. That’s almost double its revenue.

機場（Aero）以857萬美元的價格擊中了前五名，將Uniswap推開了。但這是一個轉折：根據Token終端數據，它花費了1540萬美元用於激勵措施。這幾乎是其收入的兩倍。

The gamble paid off, landing it a spot, but it’s a high-wire act. Aerodrome’s betting users will stick around once the rewards dry up. Risky? Sure. Effective? So far, yes.

賭博取得了回報，使它成為了一個席位，但這是一個高溫表演。一旦獎勵枯竭，機場的投注用戶將堅持下去。冒險？當然。有效的？到目前為止，是的。

Axiom’s Lightning Strike’s Crypto News Space

Axiom的Lightning Strike的加密新聞空間

Axiom didn’t make the monthly top five, but it deserves the spotlight. This Solana DEX pulled in $13.34 million in just seven days.

Axiom並沒有將每月的前五名成為前五名，但值得關注。這款Solana Dex在短短七天內就賺了1334萬美元。

A February 2025 points program, teasing an airdrop, sent users into a frenzy. That weekly haul outshines Aerodrome’s monthly take and rivals Hyperliquid’s pace. Axiom’s a wildcard, proving new players can shake the board.

2025年2月的積分節目，逗弄了氣流，使用戶陷入瘋狂。每週的牽引力都超過了機場的每月一次，並且與超流動性的步伐相比。 Axiom是一個通配符，證明新球員可以搖晃董事會。

Are Apps Becoming Crypto’s New Core?

應用程序是否成為加密貨幣的新核心？

This $95 million revenue sprint isn’t just a stat—it’s a signal. Crypto’s value is shifting from blockchains to apps. Hyperliquid’s $40.94 million and Axiom’s $13.34 million weekly dash dwarf what many chains earn. Users want platforms that deliver—whether it’s trading, lending, or liquidity.

這筆9500萬美元的收入衝刺不僅是一個統計數據，而且是一個信號。加密價值正在從區塊鏈轉移到應用程序。 Hyperliquid的4094萬美元和Axiom的每周少數連鎖店的收入為1334萬美元。用戶想要提供的平台 - 無論是交易，貸款還是流動性。

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handles market-making activities in the Hyperliquid ecosystem. It is responsible for providing liquidity to the platform’s perpetual futures market and ensuring efficient price discovery. The MH stips are paid to the protocol in order to fund these operations and keep the platform running smoothly.

處理超流動生態系統中的營銷活動。它負責為該平台永久期貨市場提供流動性，並確保有效的價格發現。 MH Stips已支付給協議，以資助這些操作並保持平台順利運行。

The stips are collected in the form of HYPE tokens, which are then distributed to liquidity providers

銷售以炒作令牌的形式收集，然後將其分配給流動性提供者