Robinhood Chain’s decentralized applications generated $2.66 million in revenue over a recent 24-hour period, surpassing Ethereum and Hyperliquid L1 on the same metric. The performance marks a notable milestone for the two-month-old network, which launched its public mainnet on July 1.
New L2 Tops Daily App Revenue
The 24-hour tally places Robinhood Chain ahead of more established ecosystems on application-level revenue, a metric that typically reflects fees and charges accrued by protocols running on a network (such as trading, swapping, or lending fees). While daily figures can fluctuate significantly, the showing underscores rapid early traction for the nascent chain.
Launched in July as an Arbitrum-Based Layer 2
Robinhood Chain is built using Arbitrum technology as a Layer 2 network anchored to Ethereum. The public mainnet went live on July 1 during Robinhood’s “The World Is Flat” event in London. As an L2, the chain is designed to batch and settle transactions more efficiently while leveraging Ethereum’s security model.
Competitive Context
Outpacing Ethereum and Hyperliquid L1 on 24-hour application revenue is significant given both networks’ mature user bases and deep liquidity. Ethereum remains the largest smart contract platform by total value and developer activity, while Hyperliquid L1 focuses on high-throughput trading use cases. Robinhood Chain’s result highlights the shifting dynamics of on-chain activity and the potential for newer networks to attract volume quickly.
What to Watch
- Sustainability: Single-day revenue snapshots can be volatile and influenced by a handful of high-volume applications or short-term campaigns. Multi-week trends will provide a clearer picture.
- Developer and user growth: Continued onboarding of applications and users will be key to maintaining revenue leadership.
- Ecosystem composition: The mix of DeFi, trading, and consumer apps generating fees will shape the network’s long-term profile.