Pons memecoin app drives $6 million in fees on Robinhood Chain
Pons, an app for creating and trading tokens on Robinhood’s new blockchain, generated nearly $6 million in fees in a single day, making it one of crypto’s top fee-generating services.
Record-breaking fees on Robinhood Chain
Users paid about $5.95 million in fees through Pons over 24 hours, according to data from DefiLlama. This placed Pons fourth by daily fees, ahead of other popular platforms like Pump and Hyperliquid, and even above Robinhood Chain itself, which collected about $4 million in the same period.
The surge in activity comes as nearly 25,000 new tokens were launched on Pons on September 2, with trading volume reaching $544 million. Since July, the platform has created roughly 646,000 tokens from over 167,000 unique creators.
How Pons works
Pons allows users to create a new token—often called a memecoin, a type of cryptocurrency based on jokes or trends—for a launch fee of about $1. The token becomes tradable within minutes, and Pons earns a portion of every trade. The platform uses most of its retained funds to buy and destroy its own PONS token, reducing its supply and increasing demand. This mechanism has contributed to a 300% rise in the PONS token’s value over the past week.
So far, about 29% of the original PONS token supply has been removed from circulation.
Robinhood Chain benefits from the frenzy
Robinhood Chain, which launched in July, has seen a significant portion of its activity driven by memecoins and user-created tokens rather than its initially promoted tokenized stocks. On September 2, the chain earned about $4 million in fees, roughly one-fifth of its total fees since launch.
While the network retains most of the fees, Robinhood’s corporate revenue from the chain is smaller. The company earns a few basis points per transaction and shares about half of that with Arbitrum, the underlying technology provider.
Robinhood’s stock rose 3.4% on September 2 and surged 15% the following day, though analysts attributed the gain to broader company growth rather than the chain’s performance.
What is confirmed
- Pons generated $5.95 million in fees in 24 hours, ranking fourth among tracked protocols.
- Nearly 25,000 tokens were launched on Pons on September 2, with $544 million in trading volume.
- Robinhood Chain earned $4 million in fees on the same day, about 20% of its lifetime total.
- Pons uses its funds to buy and burn its own PONS token, reducing supply by 29%.
- Robinhood earns a small percentage of transaction fees, shared with Arbitrum.
Why this matters
The surge in activity shows how third-party apps like Pons can drive significant usage on new blockchains, even in ways not originally anticipated. For Robinhood Chain, memecoins have become a major source of transactions and fees, highlighting the unpredictable nature of crypto adoption.
