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Robinhood’s blockchain experiment is generating serious cash. The Robinhood Chain, a Layer-2 network that launched its mainnet on July 1, has pulled in 17,171 ETH, worth roughly $42.58 million, in just 70 days of operation.
That works out to approximately $608,000 in daily revenue. For context, the chain has at times surpassed Ethereum itself in daily app revenue, peaking at $2.66 million on its best day.
Where the money actually comes from
Robinhood originally positioned its chain as a home for tokenized stocks and real-world assets. The primary revenue driver has been memecoin activity, particularly through a launchpad called Pons and trading tools like GMGN. Instead of tokenized Tesla shares, Robinhood Chain became a casino with really good infrastructure.
The chain’s total value locked has climbed past $1.5 billion, while decentralized exchange volume has exceeded $50 billion.
The economics: who gets paid
Robinhood Chain is built on Arbitrum’s Orbit stack, which means there’s a revenue-sharing arrangement baked into the architecture. Robinhood keeps roughly 90% of the fees generated, translating to about $38.32 million of the total haul. Arbitrum takes home the remaining 10%, or approximately $4.26 million.
On DefiLlama’s rankings, Robinhood Chain regularly competes at or near the top of blockchain fee generation charts. Its 30-day revenue figure has at times surpassed $50 million.
Wall Street is paying attention
Investment research firm Bernstein has taken notice of the chain’s financial performance. The firm estimates cumulative fees at roughly $39 million and projects this figure could scale to around $160 million annually by 2028. Bernstein maintains an Outperform rating on Robinhood Markets stock with a $160 price target.
The public testnet went live on February 10, giving developers roughly five months to build before the mainnet opened.
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