Axiom’s Growth Play: High Gross Fees, Lower Net Costs Part of this month’s @MessariCrypto new Messari Monthly report for Enterprise subscribers. @AxiomExchange has quietly become one of the top fee-generating apps in crypto over the past month, recently surpassing $100 million in cumulative revenue in under six months. The protocol acts as a unified DeFi frontend, letting users trade memecoins on Solana, deposit into vaults, and access Hyperliquid’s perp markets from a single interface. Its headline fee numbers, however, don’t reflect what it actually retains. Axiom offers up to 0.25% in SOL rebates and pays out as much as 30% of trading fees to referrers. That lowers the protocol’s effective take rate compared to competitors like Photon or TG Bots, which hold onto a much larger share of fees. The result has been strong usage growth. Axiom now processes nearly 10x the volume of Banana Bot and accounts for around 4% of total Solana DEX volume, versus Banana Bot’s 0.4%. Lower trading costs have likely played a role in that share gain. Axiom’s growth has also coincided with rising activity on @pumpdotfun. While the correlation between their fee trends has weakened recently, the timing still points to meme market momentum as a core driver. By consolidating meme trading infrastructure, launchpads, DEXs, and perps into one interface, and pairing that with a lower take rate, Axiom has positioned itself to take share from higher-margin trading frontends.