Robinhood Chain generated a single-day record of $6 million in fees on Friday, Sept. 4. Fees over the prior seven days totaled approximately $25 million, compared to just $1.4 million, representing a 17x increase in just one week.
Meanwhile, total DEX volume for the week totalled $12.4 billion, more than double the prior week’s total. Interestingly, daily active accounts averaged 396,000 across last week, which is lower than the prior week’s average.
This implies that Robinhood Chain has been extracting far more from its existing user base than before, as fees generated per active account have gone from $0.13 in mid-August to $15.90 by early September.
Expand Chart
This entire phenomenon can be traced back to one protocol, Pons, now the chain’s leading token launchpad.
