This chart framing is misleading. The question is how much each chain internalizes from the activity on top of it. If we look at the HYPE-SOL pool on Meteora's DLMM over the past 24 hours: - Total pool fees: $14.37K - Meteora's cut (10% protocol fee): $1,437 Solana earns from transaction fees. That pool processed 10,856 swaps in the same window. Solana's transaction costs over the past day: - Average: $0.004166 - Median: $0.000485 Using Solana’s average transaction cost as a high-side proxy, those 10,856 swaps imply roughly $45 of chain-level fee capture. Using the median, it is closer to $5. It also points to a broader monetization problem at the chain level. Over the past 4 quarters, Hyperliquid climbed from 21% to 33% of revenue share across major chains. Solana moved the opposite way, from 34% down to 20%. Solana the chain itself keeps very little of what those apps generate.