DefiLlama's September holder revenue reached $193.2M, the highest since November 2025, driven by three value-return mechanisms: Hyperliquid's buyback machine (+$12.8M), Uniswap's burn machine (+$6.2M), and Aerodrome's voter machine (+$10.3M). The number of protocols paying holders expanded to 241, with the top three's market share declining to 58.7%.