Mapped leader share across 15 crypto revenue categories ($5M+ monthly). In most categories, a single protocol takes more than half of all revenue. Crypto talks about decentralization, but its revenue structure looks closer to traditional tech.

> Five categories cluster tightly at 45-48%. Lido(Liquid Staking), Axiom(Trading App), Chainlink(Services), GMGN.Ai(Telegram Bot), Polymarket(Prediction Market). This is the zone where leadership can still flip. Above 50%, the leader tends to pull further ahead. Below 40%, there's no clear leader at all. The 45-50% range is the tipping point.

> DEXs (28%, 180 protocols) and Interface (22%, 61 protocols) are the only categories below 30%. Both share a common trait. Aggregators sit on top and route users automatically. Users don't pick the protocol, so no one builds sticky market share.