Robinhood Chain Revenue Spike Drives 30% Rally in Arbitrum's ARB Token
A record day of revenue on Robinhood Chain, an Arbitrum-based Layer 2, sent the ARB token up more than 30%, spotlighting a revenue-sharing model.
AfroEuropa Newsroom
AfroEuropa desk
Arbitrum's ARB token climbed more than 30% after Robinhood Chain, a Layer 2 network built on Arbitrum technology, posted record daily revenue.
CoinDesk reported that revenue on Robinhood Chain reached a 24-hour high of $1.9 million, a run that traders linked to the rally in ARB. BitKE put the figure at more than $2 million in transaction revenue over 24 hours. The two outlets differ on the exact amount.
Under the arrangement between the two projects, 10% of net protocol revenue is directed back to the Arbitrum ecosystem, according to BitKE. Of that, 8% goes to the ArbitrumDAO treasury and 2% to the Developer Guild. As a result, activity on Robinhood Chain translates into a recurring revenue channel for Arbitrum rather than a one-time gain.
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