Pons generates $5.95M in daily fees

• Pons generated about $5.95 million in fees over 24 hours.
• The platform ranked fourth among protocols tracked by DeFiLlama, ahead of Robinhood Chain.
• Nearly 25,000 tokens launched on Pons on 2 September as trading volume reached $544 million.

Pons generated about $5.95 million in fees over 24 hours as memecoin activity surged on Robinhood Chain.

That placed Pons fourth among protocols tracked by DeFiLlama, ahead of Pump at $4.64 million.

Nearly 25,000 tokens launched through Pons on 2 September, while trading volume reached $544 million.

Pons lets users create tokens for about $1, then trade them on Robinhood Chain within minutes.

The platform has created about 646,000 tokens from more than 167,000 creator addresses since July.

Robinhood Markets shares closed at $106.99 on Wednesday before rising about 15% on Thursday, although other factors also affected the move.

Robinhood Chain collected about $4 million in fees over 24 hours, taking its total since July to nearly $20 million.

Robinhood launched the network in July with tokenised stocks, but memecoins and user-created tokens now account for substantial early activity.