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FollowingNoxa suspends new token issuance on Robinhood Chain
In Robinhood Chain's first large-scale memin trading cycle, robots and counterfeiting deployments overwhelmed the launch platform, and Noxa has suspended new token issuance on the chain. The platform stopped accepting new issuance applications on July 11, citing reasons such as the proliferation of low-quality tokens and the rapid speed at which automated accounts create nearly identical assets, which has distracted the market. Existing Noxa-issued tokens can still be transferred and traded through decentralized exchanges and trading interfaces.
Before the suspension, Noxa had deployed approximately 60,000 tokens. Launching the platform generated approximately $12 million in fees during the initial craze, while subsequent continued trading in existing markets has pushed Robinhood Chain's cumulative fees to more than $13.5 million. Noxa's original website was later inaccessible, so the team migrated the access portal to an ENS and IPFS-based interface and redirected all future transaction fees to the token creator, reducing agreement revenue to zero, but the creator could still collect fees.
CASHCAT falls, DEX activity cools down
Noxa has provided substantial issuance infrastructure for Robinhood Chain's memin boom, including CASHCAT, the chain's first outbreak of community token. During the interruption, CASHCAT fell more than 30%, and then traded close to $0.05, shrinking its market value to approximately $53 million from nearly $200 million previously. Its main Robinhood Chain liquidity pool still handles millions of dollars in daily trading volume, but the sell-off erased most of the initial gains in the token's offering.
Previously, CASHCAT, HOODIE and thousands of small tokens have driven Robinhood Chain's daily DEX transaction volume to exceed US$824 million. Since then, daily trading volume has fallen back to about $600 million to $660 million, down about a quarter from the chain's peak of $877.6 million hit on July 12. The decline did not lead to the closure of Robinhood Chain or the removal of existing Noxa assets. Other launch platforms, Uniswap pools and third-party trading tools remain active on unlicensed Layer 2.
Robinhood refuses to restrict memin
Robinhood Crypto head John Kerblatt said that although the company focuses on stock tokens and real-world assets, the chain will continue to support memin activity. He believes that limiting the types of assets that developers can deploy is "anti-cryptographic", distinguishing Robinhood's product priorities from activities allowed at the blockchain level. Robinhood launched the network around tokenized stocks, stablecoin payments, lending and institutional settlements. CEO Vlad Tenev then invited developers to embed stock tokens and real-world assets into apps, while acknowledging that the same open infrastructure could also support speculative tokens.
