Robinhood Chain generated roughly $33 million in trading fees over a 15-day stretch in September, exceeding Solana and BNB Chain combined, which recorded about $11 million and $9 million, respectively. Launched on July 1, 2026, the network is an Ethereum Layer-2 (scaling network built above Ethereum) using Arbitrum's Orbit technology. Robinhood retains approximately 90% of fees, while about 10% goes to Arbitrum treasury and development funds and less than 1% covers Ethereum base-layer gas costs. Since launch, the chain has accumulated around $39 million in fees, with roughly $1.5 billion in total value locked and more than $50 billion in decentralized-exchange volume. Tokenized stock holdings rose from about $10 million to roughly $140 million in two months, while memecoins and high-frequency decentralized trading boosted activity. Record gas fees in late August and early September prompted Robinhood to absorb wallet users' gas costs through September 29, 2026. Bernstein maintained an Outperform rating on Robinhood Markets stock with a $160 price target. The model gives Robinhood a larger share of network revenue than typical decentralized networks, although memecoin activity is cyclical, subsidies will eventually end, and regulation of tokenized securities remains unsettled.