Inside Robinhood Chain’s Revenue Model: What’s in It for Ethereum and Arbitrum?
Robinhood Chain, a new Ethereum Layer-2 network, has rapidly grown to over 52 million transactions and $3 billion in trading volume within weeks of launch. According to Growthepie, the chain has generated nearly $1.76 million in cumulative revenue, retaining 98.4% while spending only 1.6% on settlement costs. ARK Invest's Lorenzo Valente argues that Ethereum won the infrastructure battle by attracting Robinhood, but captures minimal value from settlement fees (around $1,500), while Arbitrum takes roughly 10% of revenue. The article explores a three-layer revenue stack (Robinhood, Arbitrum, Ethereum) and divides Ethereum researchers into two camps: those who see low L1 fees as bullish for ecosystem growth, and those who see it as a warning sign of insufficient value capture. The model mirrors cloud computing economics, with Coinbase's Base and other exchanges adopting similar Layer-2 strategies.
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