Robinhood Chain Becomes Crypto's Top Chain by Organic Revenue

Two months after launch, Robinhood Chain's protocol revenue has become the largest in crypto's "Chain" category that isn't inflated by token incentives, per DefiLlama. The L2 currently only trails Canton, which is allocating significant rewards to its builders and users.

What's the Scoop?

• The real gap: Robinhood Chain generated $963,612 in gas revenue over the past 24 hours, more than 60% ahead of Tron's $586,688, and roughly 9x, 10x, and 11x the totals posted by Ethereum ($111,590), Base ($93,001), and Solana ($84,702), respectively

• Not the app layer: This is chain revenue, distinct from the memecoin-driven app revenue (e.g. Pons) that pushed Robinhood Chain's ecosystem past Ethereum's this week with regard to daily transactions, as CoinDesk has reported.

• Paying dues: As an Arbitrum Orbit L2 settling to Ethereum, Robinhood Chain hands 10% of that revenue to Arbitrum's Expansion Program, an overhead most rival chains don't carry. The expense has certainly been worth the cost so far, it would seem.