Robinhood Chain, the Ethereum Layer-2 blockchain launched on July 1, 2026, recorded $2.66 million in 24-hour app revenue, surpassing both Ethereum and Hyperliquid on this metric. The memecoin launchpad Pons alone generated approximately $930,000 in protocol revenue and accounts for 66% of daily token launches and 78% of trading volume on the chain. The PONS token saw its market capitalization surge from $60 million to $400 million in one week before stabilizing around $300 million, with a buyback-and-burn mechanism that destroyed 29% of the total supply. This extreme concentration, where three applications drive 88% of the chain’s revenue, raises questions about the sustainability of this economic model as Robinhood approaches its quarterly earnings report.
Source: Read the original article
