Robinhood Chain Surges Past Solana and BNB in Daily Fee Generation
Robinhood's Layer 2 blockchain network has become a significant revenue stream for the company. Since its July 1 launch, Robinhood Chain has surpassed Solana and BNB Chain in daily fee generation.
A report from investment research firm Bernstein notes that Robinhood Chain is now earning $2 million to $4 million per day in trading fees, with cumulative fees over the past 15 days reaching approximately $33 million. In comparison, Solana recorded around $11 million and BNB Chain about $9 million during the same period.
The fee distribution structure on Robinhood Chain is also favorable for the company, with approximately 90% of fees accruing to Robinhood itself. Arbitrum, which provides technical infrastructure, receives about 10%, while Ethereum gets less than 1% in data fees.