Robinhood Chain Slammed for Excessive Fees Amid Congestion

Solana co-founder Anatoly Yakovenko is criticizing Robinhood Chain's high fees as 'brain dead', arguing that the brokerage profits from network congestion rather than transparent user charges.

The average transaction fee on Robinhood Chain has risen to $0.40, with daily fees reaching $4.22 million over 10.4 million transactions. In contrast, Solana processes similar transactions for less than a cent.

Yakovenko points out that the 10% revenue share Robinhood pays to Arbitrum could cover Solana's fees four times over, suggesting that Robinhood could offer a gasless user experience if it chose to do so.