The DeFi sector has climbed nearly 38% since August 17 as investors reassess how US crypto policy could affect protocol revenue and token value. SoSoValue’s DeFi sector index $DEFI.ssi rose from 0.3616 to around 0.498, representing a cumulative gain of about 37.7%. The SEC has proposed a regulatory framework that could allow DeFi protocols to distribute revenue or conduct token buybacks without falling under investment contract rules. Uniswap generated $7.18 million in revenue over 30 days, followed by PancakeSwap ($5.16M), Jupiter ($4.69M), Aave ($4.12M) and Aerodrome ($4.11M). Several protocols now have mechanisms connecting these economics to their tokens, such as Hyperliquid using trading fees to buy HYPE, Uniswap burning UNI, or Jupiter allocating protocol fees to JUP purchases.
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