Robinhood Chain Generates $50M in Transaction Fees, Dominating Uniswap Activity

Robinhood Chain recorded $50.2 million in transaction fee revenue between September 1 and September 23, 2026, accounting for 57.3% of Uniswap's total protocol revenue. While daily fee generation peaked at approximately $8 million in early September, per-transaction costs dropped by 97% by mid-September as gas fee subsidies for swaps ended on September 29. Despite the decline in fee revenue, weekly DEX volume remained stable at $12 to $13 billion. The network, built on the Arbitrum Orbit stack, maintains a revenue-sharing agreement where 10% of net revenue is paid to Arbitrum.