Robinhood's Meme Coin Frenzy Nets $6M in Fees Amid HOOD Rally

A platform called Pons has become a lucrative venture for Robinhood, generating nearly $6 million in fees on Thursday. This surpasses the earnings of other platforms like Pump and Hyperliquid.

Pons allows anyone to create and launch a tradable token on Robinhood Chain for about $1. The platform collects a cut of every subsequent trade, splitting revenue between the protocol and token creators.

Nearly 25,000 new tokens launched through Pons on September 2 alone, up 19% from the prior day, with 24-hour trading volume hitting $544 million. Since July, Pons has produced roughly 646,000 tokens from more than 167,000 unique creator addresses.

The platform also uses a portion of its retained fees to buy and burn its own PONS token, removing 29% of the original supply from circulation. This mechanism likely contributed to PONS surging 300% over the past week.