Trust Wallet Overtakes MetaMask in Hyperliquid Fee Revenue

Hyperliquid is a Layer 1 blockchain built for perpetual futures trading. Its builder code program rewards the wallets and applications that route trades to the platform, paying fees capped at 0.1% per order. Since the program launched, it has distributed tens of millions of dollars across the ecosystem, with Phantom alone accumulating over $20.6 million, DefiLlama data show.

On a 30-day basis, Trust Wallet's revenue reached $206,937, closely trailing MetaMask and Phantom. The convergence across daily, weekly, and monthly timeframes points to a sustained shift rather than a one-off spike, according to DefiLlama figures.

For traders routing Hyperliquid trades through any of these wallets, the 0.1% fee cap keeps the cost of the route modest. The revenue the wallets earn comes directly from that activity, an incentive structure that has drawn more interfaces into the ecosystem.

Trust Wallet's growth rate is the number to watch. At current run rates, the weekly revenue gap between the three wallets is measured in tens of thousands of dollars, a range that could close further if Trust Wallet's momentum holds.