Trading volume on Robinhood Chain launchpads fell to $399 million on September 16, the lowest daily level since August 29. This decline follows a period in early September when daily volumes consistently exceeded $600 million.
Robinhood launched its layer 2 mainnet on July 1, 2026. While the project initially focused on tokenized stocks and real-world assets, the ecosystem became dominated by meme coin creation, with tens of thousands of new tokens minted daily at peak activity.
The platform Pons leads the ecosystem, having recorded over $4.5 billion in cumulative volume by mid-September and holding approximately 60% of the chain's launchpad activity. Its native PONS token reached a market cap between $300 million and $500 million.
Other platforms, including Pools.trade, launched on August 5, and Long.xyz, have also emerged as competitors. Robinhood currently subsidizes gas fees on the network, but this incentive is scheduled to expire on September 29.
