Robinhood Chain App Revenue Beats Ethereum, Hyperliquid

Robinhood Chain, an Arbitrum‑based layer‑2 network launched on July 1, recorded $2.66 million in application revenue over a 24‑hour period on August 30. This figure surpassed Ethereum’s $1.27 million and Hyperliquid L1’s $1.70 million for the same day, and was nearly six times higher than Base’s $438,436.

Key Apps Driving Revenue

Three applications accounted for roughly 88 % of the chain’s earnings:

• Gmgn – an on‑chain trading terminal for meme‑coin traders, generated about $1.11 million.
• Pons – a token‑launch and social‑trading platform, contributed $930,587.
• Uniswap – operating its spot‑trading service on Robinhood Chain, added $306,877.

Comparative Volume Landscape

While Robinhood Chain’s app revenue outpaced its peers, Hyperliquid remains dominant in perpetual futures volume. On July 13, Hyperliquid processed $8.9 billion in perpetuals in a single day, compared with $5.9 million on Robinhood Chain the same day. Hyperliquid also holds an estimated 9 % share of global perpetual contract open positions.

Implications for Retail Trading

The revenue surge suggests that Robinhood is successfully channeling retail trading activity—particularly from its brokerage user base—onto its own layer‑2, capturing fees that might otherwise accrue to Ethereum or Base. The network’s design emphasizes tokenized real‑world assets, stock tokens, and ETFs, with price feeds supplied by Chainlink oracles covering 95 tokenized stocks.

Market Context

These figures emerged as Bitcoin hovered near $78,000, with the broader crypto market showing limited movement.