Robinhood Chain earnings breakdown: Q3 captured 80% of all L2 fees across the network, tokenized US stocks achieved price discovery during market closure hours.

Robinhood Chain captured roughly 80% of all Ethereum Layer 2 network fee revenue in Q3 2026, its first full quarter after mainnet launch, generating $51 million in fees against an L2 median of just $24,700. On-chain exchange volume hit $90.7 billion, surpassing the $50 billion in crypto volume combined across the Robinhood app and Bitstamp, while a token-launch surge on Pons V2 drove 74% of quarterly fees—including $8.36 million on the single busiest day, September 4. Even excluding that 12-day surge, the chain still accounted for 57.7% of L2 fees across the remaining 80 days, ahead of Coinbase's Base at 30.7%. Stock tokens grew from 2.6% to 15.6% of DEX volume between July and September, and 67.1% of top-60 stock-token pool volume occurred outside NYSE hours, with all 37 weekend or holiday gaps of 1% or more correctly signaling direction before Monday's open. Under its tiered revenue-share structure, Robinhood retained $22.9 million, or 19% of its $120 million quarterly crypto revenue, while total value locked on the chain hit an all-time high of $1.15 billion on October 22. Watch whether post-launch fee levels stabilize near the $54,600 daily average seen in early October, and whether pending SEC rules and Robinhood's planned voting and redemption features broaden stock-token utility beyond Bitstamp-minted, fully collateralized receipts.