A trading platform launched just months ago by two fresh college grads is already raking in $100 million in fees, talk about a glow-up! Axiom, a web-based platform letting users swap Solana tokens, open perpetual futures on Hyperliquid, and track blockchain data, smashed this milestone since launching early access in late January.
For context, memecoin platform Pump.fun took a whopping eight months in 2024 to hit the same mark. Axiom’s secret sauce? It was co-founded by 22-year-olds Henry Zhang (aka Mist) and Preston Ellis (aka Cal), UC San Diego alums who once worked at TikTok and DoorDash. The startup was nurtured by the famed Y Combinator winter 2025 batch.
Generous Rewards and Low-Key Founders Are Changing the Game
Axiom isn’t just about fees; it’s generous, too. It hands back a hefty chunk of fees as rewards to top traders, with users climbing from “Wood” level (0.95% fees, 0.05% SOL rewards) up to “Champion” level (0.75% fees, 0.25% SOL rewards). As of early May, the platform had given back as much as 43% of its fees to users, according to analytics whiz Adam_Tehc.
Plenty of chatter lately about trading bots giving back.
— Adam (@Adam_Tehc) May 12, 2025
Here’s what’s actually been returned to users:
• Axiom: 213,000 SOL (43.3% of collected fees)
• Trojan: 233,765 SOL (23.6% of collected fees)
• BullX: 228,884 SOL (22.9% of collected fees)
• Bloom: 33,365 SOL (22.2%… pic.twitter.com/PWZACMNHom
Traders can also earn yield on idle cash powered by MarginFi, and SOL staking via Jito is “coming soon.” No native token yet, but users get “Axiom points” for trading and referrals.
Expansion beyond Solana and Hyperliquid is on the horizon, though no solid plans have been revealed. Despite their success, Zhang and Ellis keep a low profile on X, sharing only occasional updates about new features and polish, making trading smoother.
We understand that the small touches of polish and delight make a big difference in a tool you use daily. At Axiom, we're always trying to ship new features and touchups that make the trading experience more seamless. Details below: pic.twitter.com/d5jf4T9sp3
— Mist (@mist_trading) March 14, 2025
Interestingly, crypto industry veteran Jordan “Cobie” Fish advised the duo to skip heavy influencer marketing, and so far, it’s clearly working.
Alex Shepel
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