Key facts
- Noxa, a launchpad on Robinhood Chain, has stopped operating.
- The platform generated an estimated $12 million in cumulative fees.
- Noxa halted new token launches on July 11.
- The memecoin CASHCAT, which drove significant activity, is down over 33%.
- Noxa redirected 100% of transaction revenue to creators.
Noxa, the largest token launchpad on the Robinhood Chain, has abruptly ceased operations after generating an estimated $12 million in fees. The platform stopped accepting new token launches on July 11, coinciding with peak trading volume for CASHCAT, the chain's breakout memecoin. Two days later, Noxa's website went dark, initially citing a Cloudflare issue. In a late Tuesday night update, Noxa announced it would no longer collect fees, redirecting 100% of transaction revenue to creators instead. This decision has divided opinion on Crypto Twitter, with some praising the move against low-quality tokens and others criticizing it as a missed opportunity.
CASHCAT has seen a significant price drop, falling more than 33% in 24 hours. Prominent trader 0xAvast, who claims to have turned a small investment into seven figures by riding CASHCAT from a $10,000 market cap to $230 million, dismissed the selloff as "irrelevant FUD" and a buying opportunity. Meanwhile, tokenized real-world assets, the intended use case for Robinhood Chain, currently hold a market cap of approximately $12.66 million, a fraction of CASHCAT's peak valuation.