Pons, an application that enables anyone to build and exchange a token on the new blockchain by Robinhood, brought in nearly $6 million in fees throughout the last 24 hours, propelling it into the premier group of protocol fee generators as memecoin traffic expanded across the network.
Participants spent approximately $5.95 million in transaction fees via Pons over the prior day, as reported by DefiLlama. That performance positioned Pons in fourth place for 24-hour fee generation among all protocols monitored by the analytics firm, trailing only Tether, Uniswap, and Circle, while outpacing Pump’s $4.64 million.
The Robinhood Chain itself secured roughly $4 million, whereas the perpetual swaps platform Hyperliquid collected around $2 million, according to the metrics.
This sharp increase points to an unforeseen driver of usage for the Robinhood Chain. The network debuted in July with tokenized equities as its primary offering, but memecoins and alternative user-generated tokens are currently driving some of its heaviest adoption and fee generation.
Almost 25,000 brand-new tokens were deployed through Pons on September 2, marking an increase of nearly 19% compared to Tuesday, while the 24-hour trading volume hit $544 million. Since July, the platform has generated roughly 646,000 tokens originating from upward of 167,000 distinct creator addresses, metrics indicate.
Read More: Robinhood Chain beats Ethereum in daily revenue as memecoin trading takes over
Token factory
Pons functions essentially as a generator for creating fresh tokens that become swappable within minutes. An individual selects a title and ticker, generates the token via the interface for a deployment charge of roughly $1, and an active marketplace for trading it opens on the Robinhood Chain.
Pons subsequently gathers a percentage of every swap, with shares distributed to the protocol and the asset creators, meaning the economic model relies not merely on the volume of tokens created but additionally on the trading activity they stimulate afterward.
The project documentation specifies that it currently channels the majority of the protocol’s retained earnings into purchasing its native PONS token from the open market and permanently burning it. This procedure generates continuous purchasing pressure for PONS while contracting the circulating supply, likely aiding the token’s 300% rally over the past week.
Blockchain records indicate that roughly 293 million PONS, equating to 29% of the initial supply, have already been eliminated from circulation.
Consequently, what purchasers are acquiring through this mechanism consists primarily of cartoons and trending internet memes transformed into tokens.
The largest native token on the Robinhood Chain is Cash Cat, valued at approximately $254 million, trailed by Goose Token at nearly $78 million and Chump Coin at about $30 million, CoinGecko metrics show.
Nonetheless, the aggregate market valuation for this entire token category sits near $577 million, implying that a massive portion of the ecosystem’s worth was concentrated within a mere handful of assets despite hundreds of thousands of deployments.
How the frenzy benefits Robinhood
Robinhood introduced its blockchain in July highlighting tokenized equities as one of its flagship offerings. Thus far, however, memecoins and alternative user-made assets have provided a major portion of its initial engagement.
During the company’s second-quarter earnings call, CEO Vlad Tenev remarked that stock tokens were among the offerings he felt “perhaps the most excited about.” Even so, he acknowledged that external programmers were already utilizing the network in unanticipated ways.
“We have gotten a lot of developer activity too,” Tenev noted, explaining that builders were leveraging the network “in ways that we have not thought of.”
Pons presently stands out as the prime illustration of how a third-party memecoin launchpad has evolved into one of the blockchain sector’s premier fee generators.
Wednesday marked the network’s strongest day by a wide margin. The Robinhood Chain collected approximately $4 million in fees across the prior 24 hours, elevating the cumulative total to nearly $20 million since the network debuted in July.
Stated differently, roughly twenty percent of the blockchain’s lifetime fee generation materialized during a single 24-hour window.
The analytics interface reveals that the network has retained about $18 million since inception, representing roughly 90 cents out of every dollar in fees produced.
That figure, however, ought not to be directly categorized as corporate revenue for Robinhood Markets.
Robinhood has informed investors that network activity does generate income for the firm, albeit substantially less than the headline network-fee figures might imply.
“On the monetization piece, per transaction, we make a few basis points,” CFO Shiv Verma explained during Robinhood’s second-quarter earnings discussion. “Not per volume, it’s per transaction.” Robinhood splits about half of that revenue with Arbitrum, he added.
Pons operates independently from Robinhood, yet every token creation and trade executes across infrastructure managed by Robinhood, which subsequently accumulates fees as long as the memecoin mania persists. For Robinhood, therefore, the more critical indicator may not be the dollar amount of the memecoins changing hands, but rather the transaction count they produce.
By opening the network to external developers, Robinhood effectively established the conditions for applications that it had not necessarily predicted would transform into primary activity drivers.
Robinhood shares finished 3.4% higher at $106.99 on Wednesday and jumped 15% on Thursday, outpacing most cryptocurrency equities as bitcoin pushed toward $80,000. Morgan Stanley upgraded the equity this week, pointing to expansion across the firm’s broader product suite rather than any specific catalyst tied to the blockchain.
Originally published at https://www.coindesk.com/tech/2026/09/03/a-memecoin-making-app-becomes-crypto-s-top-fee-generators-as-robinhood-chain-activity-explodes.
