Key facts
- Robinhood Chain achieved $2.66 million in app revenue in a single 24-hour period on August 31.
- This daily revenue figure exceeded that of Ethereum and Hyperliquid, placing it second only to Solana.
- The majority of Robinhood Chain's revenue was driven by three applications: GMGN, Pons, and Uniswap.
- The chain also generated $495,000 in net gas revenue.
- Robinhood's broader ambition for the chain is to serve as infrastructure for tokenized real-world assets, particularly stocks.
- A key limitation is that Stock Tokens on Robinhood Chain are not available to US persons.
Robinhood Chain, the Layer 2 network developed by the trading platform Robinhood, generated $2.66 million in app revenue within a 24-hour period on August 31, according to data from DeFiLlama. This figure placed it ahead of established networks like Ethereum ($1.28 million) and Hyperliquid ($1.70 million) for that specific day, though Solana remained the leader with $5.07 million.
The substantial revenue on Robinhood Chain was concentrated among a few applications. The Telegram trading bot GMGN led with $803,000, followed by the native launchpad and swap platform Pons with $632,000, and Uniswap with $235,000. These three protocols accounted for approximately 88% of the total app revenue generated on the chain that day.
Beyond app revenue, Robinhood Chain also netted $495,000 in gas revenue after accounting for Ethereum L1 costs and a 10% share allocated to the Arbitrum Expansion Program. The Arbitrum Foundation received $44,000 from this revenue stream.
While the August 31 figures represent a significant daily spike, longer-term data indicates that Hyperliquid and Ethereum still lead in 30-day app revenue. Hyperliquid recorded $53.41 million, Ethereum $45.8 million, and Robinhood Chain $23.23 million over the same period.
This development comes as Robinhood faces pressure on its core business, with Q2 earnings revealing a 38% year-over-year decrease in crypto trading revenue to $100 million. The on-chain app fee revenue is emerging as a potential new narrative for investors. Robinhood Chain, built on Arbitrum Orbit, launched on July 1, 2026, and aims to facilitate trading of tokenized real-world assets, such as stocks. Cumulative volume for Stock Tokens on Robinhood Chain surpassed $1.5 billion by late August.
However, a key limitation for Robinhood's broader ambitions is that its Stock Tokens are not currently available to US persons, who constitute a significant portion of its user base. Competitors like Coinbase and Kraken are also increasing their focus on equity-linked on-chain trading, indicating a race for both infrastructure and distribution in this emerging market.