Robinhood Chain Posts Strong Early Activity with $6.6 Million in Gas Revenue

The Robinhood Chain has generated $6.6 million in gas revenue for August, according to recent figures.

This is despite Ethereum settlement costs and a 10% licensing payment to Arbitrum DAO, which left net revenue at around $6 million.

Uniswap accounted for the majority of the month's trading volume on the network, with daily on-chain fees reaching $2.1 million on August 31.

The Robinhood Chain has also seen a significant increase in Earn deposits, with users depositing USDG through Morpho lending markets. Deposits rose from $9.5 million on July 1 to $456 million on August 31, representing 68% of the network's total value locked at the end of August.