Ark Research Director: Of the Revenue Generated by Robinhood Chain, Only 0.15% Flows to Ethereum

Odaily Planet Daily News Lorenzo Valente, Director of Crypto Research at Ark, stated on X that Robinhood Chain is the clearest case study for examining the evolution of the ETH economic model over time.

Since its inception, Robinhood Chain has generated a total of approximately $816,000 in revenue; Arbitrum, serving as the middleware provider, took a 10% cut, amounting to about $80,000; Arbitrum then paid settlement fees to the Ethereum mainnet, totaling approximately $1,538. A rough breakdown of the profit distribution in this model is as follows — Robinhood 89%; Arbitrum 10%; Ethereum 0.15%.

If your thesis is "ETH is money," then Robinhood building an L2 within the Ethereum ecosystem is a major positive. However, if your thesis is "ETH is a revenue-generating asset," then this is an extremely bearish case.