Robinhood Chain processed $3.1 billion in decentralized exchange volume over a single week, according to data tracked on DefiLlama, placing it among the five highest-volume blockchain networks for spot trading.
The Menlo Park-backed chain, operated by Robinhood Markets, has accumulated $300 million in protocol fees since its public launch. Daily fee generation reached $116,000 as of July 13, according to the company.
Robinhood Chain launched in May as a Layer 2 network built on Ethereum. The chain offers low-cost trading and settlement for crypto assets and intends to eventually support equities and other asset classes. Robinhood Markets operates the retail brokerage Robinhood, which has 24 million funded accounts.
The weekly DEX volume figure places Robinhood Chain ahead of Arbitrum and Polygon by this metric alone, according to analysis by Bernstein. Arbitrum and Polygon are among the oldest and largest Ethereum scaling networks, with Arbitrum handling roughly $1.5 billion to $2 billion in weekly DEX volume and Polygon typically ranging between $800 million and $1.5 billion, depending on market conditions.
Robinhood Chain's rapid volume growth reflects heightened adoption of the network since its debut. The chain competes directly with Base, another Ethereum Layer 2 operated by Coinbase, which has accumulated significantly higher total value locked and daily active users since its launch in August 2023.
The protocol fees accrued by Robinhood Chain fund network operations and are distributed to validators and stakeholders according to the chain's economic model. The daily fee run rate of $116,000 translates to approximately $42 million annualized, though actual fee generation varies with trading volume and asset prices.
