Robinhood Chain 8-Month Report: $6.6M in Gas Revenue, $1.5B in DEX Volume

According to a report by Spartan Capital, Robinhood Chain launched its mainnet on July 1, 2026. By the end of August, on-chain DEX trading volume reached $1.5 billion, TVL increased to $711 million, and on-chain gas fees for August totaled $6.6 million. The report indicates that the majority of trading volume in August came from Uniswap, with a single-day on-chain fee peak of $2.1 million on August 31. Robinhood operates the sequencer and receives approximately 90% of on-chain fees; after deducting Ethereum settlement costs and a 10% licensing fee paid to Arbitrum DAO, Robinhood’s net income for August was approximately $6 million. On Robinhood Earn, users deposited USDG and utilized Morpho for lending, with deposit volume rising from $9.5 million on July 1 to $456 million by August 31—accounting for 68% of Robinhood Chain’s total TVL at month-end. Users earn an estimated annualized yield of around 7%, while the lending side yielded approximately 3.7% by end-August, with the spread subsidized by reward funds provided by Morpho and its lending partners. Meanwhile, Robinhood Chain’s meme ecosystem has experienced rapid growth. By end-August, over 340,000 tokens had been issued on-chain, with application-layer fees reaching $114 million in August. The report notes that trading volume for meme tokens paired with tokenized stocks has also surged rapidly; meme tokens paired with Robinhood Stock Tokens generated $518 million in trading volume during August. The report highlights that current trading activity on Robinhood Chain remains primarily driven by crypto-native users, as Robinhood’s 27 million funded accounts have not yet migrated en masse to the chain. Gas subsidies within Robinhood Wallet will continue until September 29, and Earn yields are scheduled to be gradually reduced.