Solana Co-Founder Slams Robinhood Chain Fees as 'Brain Dead'

Solana co-founder Anatoly Yakovenko has criticized Robinhood Chain's fees, saying they profit from network congestion rather than charging users openly within their own app.

The current average fee for a transaction on Robinhood Chain is around $0.40, which Yakovenko claims is excessive compared to Solana's equivalent fee of 5,000 lamports per signature.

This translates to less than a cent at the current Solana price of approximately $102, making it significantly cheaper than Robinhood Chain's fees.

Robinhood Chain went live on mainnet on July 1, and its usage has been increasing rapidly since then. In one day, the network reached a peak transaction volume of 10.4 million transactions, with fees totaling around $4.22 million, resulting in an average fee of $0.40 per transaction.

The congestion caused by this high demand is what drives up the fees on Robinhood Chain, rather than any explicitly posted rate. This is a significant strain on users, who are forced to pay $0.40 for each transaction, while Ethereum takes its settlement cost and Robinhood keeps the rest.