robinhood chain, robinhood's ethereum layer 2 built on arbitrum, earned $26m of net revenue in q3. without it, robinhood's crypto revenue fell 6% from q2, so the chain supplied all of the growth. on october 27, ceo vlad tenev promised more support for builders, but gave no budget or date. chain activity is weaker. dex volume fell 31% and fees fell about 35% between october 2-8 and october 20-26. robinhood also pays some wallet swap fees until december 31, so part of the fee demand is subsidized.
