Pons Memecoin App Fuels Robinhood Chain Fee Surge

A surge in memecoin activity on Robinhood Chain has propelled an app called Pons to the top tier of crypto's fee-generating protocols, generating nearly $6 million in fees over the past 24 hours.

Pons allows users to create and trade tokens on the blockchain, with a launch fee of about $1 per token. The app has become a factory for creating new tokens that can be traded within minutes.

The surge highlights an unexpected source of activity for Robinhood Chain, which launched in July with tokenized stocks as a flagship product. Nearly 25,000 new tokens were launched through Pons on Sept. 2, up almost 19% from the previous day, while 24-hour trading volume reached $544 million.