A recently-launched trading platform co-founded by two recent college graduates has generated $100 million in revenue mere months after it launched in early-access in late January, becoming one of the fastest startups to reach that milestone in history.
Axiom, a web-based trading platform that allows users to swap Solana-based tokens, open perpetual futures positions on Hyperliquid, and track meaningful data from the blockchain or from X, has generated $100 million in fees over its lifetime of operation, according to a Dune analytics dashboard and Token Terminal data.
Yet Axiom launched mere months ago, opening in early-access in late January and to the wider public in mid-February. Memecoin platform Pump.fun took around eight months to reach the same milestone in 2024.
Axiom was co-founded by two 22-year-old recent college grads: Henry Zhang, also known as Mist, and Preston Ellis, also known as Cal. The UC San Diego graduates had prior experience at TikTok and DoorDash before starting the platform, which was incubated by VC firm Y Combinator as part of its winter 2025 batch.
Axiom returns a significant percentage of its fees to top traders as rewards, with users leveling up from the base “Wood” level, with 0.95% fees and 0.05% SOL rewards, up to the “Champion” level, with 0.75% fees and 0.25% SOL rewards, according to the platform’s fee structure. The platform had given back as much as 43% of its fees as rewards to users as of earlier this month, according to Dune dashboard creator Adam_Tehc.
The platform also allows traders to earn yield from idle cash powered by MarginFi; a banner on the trading site says native SOL staking through Jito is coming “soon.” The platform has no current plans to launch a native token, according to the team, though Axiom does reward users with “Axiom points” for trades and referrals.
Axiom plans to expand to other blockchain ecosystems beyond Solana and Hyperliquid, but no firm plans have yet been disclosed. Zhang and Ellis did not immediately respond to an interview request from The Block.
For crypto founders, Zhang and Ellis are uncharacteristically quiet on X, with the Axiom account and the co-founders’ personal accounts offering only occasional updates. “We understand that the small touches of polish and delight make a big difference in a tool you use daily,” Zhang posted recently. “At Axiom, we’re always trying to ship new features and touchups that make the trading experience more seamless.”
The pair were advised by notable crypto industry figure Jordan “Cobie” Fish, Zhang and Ellis previously told Blockworks, who advised the founders against spending heavily on influencer marketing.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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