Robinhood Chain Surpasses Solana in Revenue Driven by Memecoin Speculation

Roninhood Chain has surpassed Solana in revenue, thanks to its gas subsidy, but most of that money is going to third-party applications on top of the chain.

The chain itself is burning cash to keep execution costs free for users. The subsidy applies only to Robinhood Wallet users, who pay zero fees, while other wallets continue to pay standard gas fees.

Roninhood Chain processed 7.6 million daily transactions in August, closing in on Base's 9.2 million. A back-of-the-envelope calculation suggests the subsidy cost could be around $630,000 over 90 days at $0.01 per transaction.

The chain is driven by memecoin trading and speculation, with Pons pulling in $4.89 million in fees on August 31 and GMGN collecting $956,450 daily fees. These platforms cater to pure speculation, with users launching tokens, sniping early liquidity, and dumping within minutes.