Key facts
- Phantom has generated over $20.6 million in cumulative revenue on Hyperliquid.
- Phantom is the largest builder by revenue on Hyperliquid, accounting for 31.8% of the top 10 builders' total revenue.
- Phantom recorded 137,496 users, the largest user count among the top builders.
- Based ranked second with $15,056,894 in revenue, while MetaMask ranked fourth with $6,510,547.
- Phantom processed $39.4 billion in trading volume with a builder fee of 0.05%.
Hyperliquid operates a builder program where external applications and wallets can integrate and bring users to its trading venue, charging fees for access. This program allows for a distributed layer of user acquisition and revenue generation on the decentralized exchange. The success of builders like Phantom highlights the potential for different fee models and user acquisition strategies within the DeFi ecosystem.