Robinhood Chain Rakes in Fees as Speculative Trading Dominates

Roger that on Robinhood Chain, an Ethereum Layer 2 built on Arbitrum. This chain is an optimistic rollup where transactions are processed off the Ethereum mainnet and posted back in compressed batches.

Robinhood operates the sequencer and earns directly from network fees. The company has assembled a product bundle around the chain: Stock Tokens, which provide economic exposure to underlying assets without shareholder rights; Robinhood Earn, a decentralized lending product with an estimated seven percent APY; Perpetual Futures, available through Lighter inside the Robinhood Wallet; and DeFi Building Blocks for lending and borrowing.

The numbers have been striking. According to DefiLlama, the chain leads all networks by daily fees at times clearing more than six million dollars in a single day. Trading volume on the chain's decentralized exchanges peaked above 1.7 billion dollars within 24 hours.