Robinhood Chain Cracks $40 Million in Revenue, Memecoin Mania the Main Driver

Ronaldinho's blockchain experiment has hit it big. The Robinhood Chain, a Layer-2 network that went live on July 1, brought in $42.58 million in just 70 days of operation. This equates to approximately $608,000 per day.

This is astonishing, especially when compared to Ethereum's daily revenue, which the chain has surpassed at times. The Robinhood Chain peaked at $2.66 million on one of its best days, outdoing Ethereum in daily app revenue.

The majority of this revenue comes from memecoins, particularly through a launchpad called Pons and trading tools like GMGN. This is an unexpected twist for the chain, which was initially designed to handle tokenized stocks and real-world assets.

Arbitrum's Orbit stack powers the Robinhood Chain, with a built-in revenue-sharing arrangement that sees Robinhood take 90% of the fees generated. This translates to around $38.32 million, while Arbitrum takes home the remaining 10%, or approximately $4.26 million.