Robinhood Chain fees collapse 97% even as transactions stay near record highs
The cooling is visible at Pons, the launchpad where users create and trade new memecoins, and the app that drove most of Robinhood Chain's boom. It recorded about $616 million in trading volume during Sept. 10-16, data shows, down 37% from the previous seven days even as trading across the chain's exchanges rose, with protocol revenue falling from $10.7 million to $5.8 million over the same stretch, still about $830,000 a day.
Uniswap V3 volume on the chain more than doubled from $2.5 billion to $5.3 billion between the two periods, while Uniswap V4 volume fell 22% to $4.9 billion. Across every decentralized exchange tracked by DeFiLlama, Robinhood volume rose 5% to $12.8 billion.
Read More: A memecoin making app becomes crypto’s top fee generators as Robinhood Chain activity explodes
Unipcs remains bullish on Robinhood Chain and expects its users, trading volume and fees to set new records before the end of the year, adding that speculative memecoin activity remains mainly across Robinhood Chain, BNB Chain and Solana.
Earlier this month, Pons creator Ozzy told CoinDesk that it uses 80% of its protocol revenue to buy and burn PONS, permanently removing the purchased tokens from circulation, which at last week's revenue rate and by the launchpad's own figures, would direct around $4.6 million toward the program.
Did traders move to Solana?
Solana is the frontrunner for wherever existing traders land, given the network remains the busiest venue for memecoin trading and speculative bets.