Robinhood Chain Overtakes Solana in Revenue, Raises Questions About Ethereum's Economic Model

The Robinhood Chain has taken over as the most revenue-generative chain in crypto, processing $1.4 billion in daily DEX volume and flipping Solana for the top spot by revenue.

This is driven by a memecoin-to-tokenized-stock trading meta that Dragonfly Capital managing partner Haseeb Qureshi calls 'financial jackassery.'

The chain's median fees run 128x higher than Solana's and twice Ethereum L1's, yet Ethereum captures only 0.014% of the revenue.

The success raises uncomfortable questions about Ethereum's economic model and whether it can tax its L2s like colonies.