Trust Wallet is quietly pulling ahead of MetaMask in the race for Hyperliquid builder code revenue. The Binance-backed wallet, long a distant third behind MetaMask and Phantom, has now flipped the script on a daily basis. On any given day, Trust Wallet now generates more trading fee revenue than MetaMask from the Hyperliquid ecosystem.
The numbers paint a clear picture. In the latest 24-hour snapshot, Trust Wallet pulled in $25,482 in builder-fee revenue while MetaMask managed $22,306. Phantom still leads that particular race at $41,827, but Trust Wallet's overtaking MetaMask marks a genuine shift in the market. Over the past seven days, Trust Wallet generated roughly $183,410 in revenue compared to MetaMask's $192,000 and Phantom's $211,000.
What really stands out is the growth trajectory. Trust Wallet's week-over-week expansion hit 7,436%. That's not a typo. While MetaMask posted some weekly snapshots around $210,800, Trust Wallet is moving on a fundamentally different curve than its competitors. On a 30-day basis, Trust Wallet sits at $206,937, trailing both rivals but closing in fast.
How the builder code program works
Hyperliquid is a Layer 1 blockchain designed exclusively for perpetual futures trading. The builder code system rewards wallets and apps that route trades to the platform. Approved wallets earn fees capped at 0.1% per order for trades flowing through their interfaces. Since launch, the program has distributed tens of millions across the ecosystem. Phantom alone has accumulated over $20.6 million in cumulative builder revenue.
For traders, the wallet choice matters because it determines who captures that fee revenue from your activity. The 0.1% cap keeps costs reasonable, but understanding who benefits from your trades is worth knowing. Trust Wallet's surge suggests Binance's distribution muscle and user base are finally translating into real revenue share on this specific chain. The convergence across daily, weekly, and monthly timeframes points to a sustained trend rather than noise.
Phantom still holds the top position, but the gap between all three wallets is narrowing at speed.
This piece is informational only and should not be construed as financial advice. Always do your own research before making trading decisions.
