The trading activity of Robinhood Chain is not the same as the fees it has paid to Ethereum.
Since the end of April, Robinhood Chain has processed over 600 million transactions; over the same period, the on-chain fees it paid to Ethereum were only about $49,000. On September 3 alone, it charged users about $4.5 million in transaction fees, while the data and proof costs paid to Ethereum were about $400. The market interpretation is that there is a split between bullish and bearish views: the narrative is positive for Robinhood Chain and the ARB revenue-share arrangement, but it is more bearish on the expectation of ETH fee capture. One observation is that if L2 activity continues to rise, the “app-chain business model” narrative will become even stronger. Another observation is that if ETH can only capture very small blob fees, the controversy over value capture on the mainnet will continue. Which are you more focused on—the transaction scale of Robinhood Chain, or the revenue ETH ultimately receives?
Source: Wu Shuo
#ARB #ETH #HOOD
Figure 1: Robinhood Chain leverages high transaction fees with low costs · Source: partial screenshot of the page
Image source: https://www.wublock123.com/news/robinhood-chain-processed-600m-transactions-paid-49k-fees-to-ethereum-68691
Since the end of April, Robinhood Chain has processed over 600 million transactions; over the same period, the on-chain fees it paid to Ethereum were only about $49,000. On September 3 alone, it charged users about $4.5 million in transaction fees, while the data and proof costs paid to Ethereum were about $400. The market interpretation is that there is a split between bullish and bearish views: the narrative is positive for Robinhood Chain and the ARB revenue-share arrangement, but it is more bearish on the expectation of ETH fee capture. One observation is that if L2 activity continues to rise, the “app-chain business model” narrative will become even stronger. Another observation is that if ETH can only capture very small blob fees, the controversy over value capture on the mainnet will continue. Which are you more focused on—the transaction scale of Robinhood Chain, or the revenue ETH ultimately receives?
Source: Wu Shuo
#ARB #ETH #HOOD
Figure 1: Robinhood Chain leverages high transaction fees with low costs · Source: partial screenshot of the page
Image source: https://www.wublock123.com/news/robinhood-chain-processed-600m-transactions-paid-49k-fees-to-ethereum-68691
