Robinhood Chain launchpads hit lowest volume day since late August as gas subsidy deadline looms

The token factory that Robinhood Chain became over the summer is starting to cool. Launchpads on the layer 2 blockchain recorded just $399 million in combined trading volume on September 16, marking the lowest single-day figure since August 29. A few weeks ago, daily launchpad volumes were regularly clearing $600 million, driven largely by a frenzy of meme-inspired token creation. How Robinhood Chain became a meme token machine Robinhood launched its own layer 2 mainnet on July 1, 2026. The pitch leaned heavily on tokenized stocks and real-world assets. What actually happened was a little different. Third-party launchpads flooded in almost immediately, and the tokens they spawned were overwhelmingly meme coins rather than digitized equities. Platforms like Pons, Pools.trade (built by Uniswap Labs and launched August 5), and Long.xyz turned Robinhood Chain into one of the highest-throughput meme token ecosystems in crypto. At peak activity, the chain was minting tens of thousands of new tokens per day. Pons emerged as the clear frontrunner. The launchpad cleared over $4.5 billion in cumulative volume by mid-September, routinely accounting for roughly 60% of all launchpad activity on...