Woofun AI data shows that on-chain protocol fees declined by 33% year-over-year in the second quarter. Decentralized exchange fees fell by $625 million, a 57% drop, largely due to reduced activity from Meteora, Raydium, and PancakeSwap. Blockchain and MEV fees decreased by 40% to $362 million, while Launchpad fees dropped 57%, with Pump.fun representing nearly half of that segment.

In contrast, perpetual contract and prediction market fees increased by 22% year-over-year. This growth was driven by edgeX and Hyperliquid, while Polymarket generated fees approaching $100 million for the quarter alone.