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.
Keep reading
Revised US CLARITY Act Adds Ethics Curbs on Officials' Crypto Activity
President Trump agreed to tougher conflict-of-interest rules in the Senate's crypto bill, but 18 state attorneys general say the draft weakens their oversight.
Other highlights
Einride and Lidl Launch Germany's First Cab-Less Driverless Truck on Public Roads
The autonomous truck now moves goods for Lidl in Germany without a driver or safety operator on board, under a first-of-its-kind national permit.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
