Ethereum · CryptoSlate
A major outage and corporate backlash hit Robinhood Chain at the peak of its growth
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Robinhood Chain’s rapid growth ran into two problems at once on Sept. 4 as the network briefly stopped producing blocks while AMC challenged its fast-growing Stock Token business.
Key facts
- The network has generated about $23 million in cumulative fees, including roughly $4 million in a recent 24-hour period, Entropy Advisors’ Tom Wan said
- Stock Tokens now represent more than $200 million of active real-world assets on Robinhood Chain, while stablecoins on the network have approached $1 billion
- Tokenized stocks generated about $6.4 billion in decentralized exchange volume over the past 30 days, up more than 90% from the preceding period
- On Sept. 4, the Ethereum layer-2 network halted block production for at least 14 minutes, stalling transactions before activity began recovering
Summary
01 Robinhood Chain halted block production for at least 14 minutes Friday before transactions began recovering. 02 The two-month-old network has generated about $23 million in fees as Stock Tokens and onchain assets rapidly expand. 03 Robinhood had not disclosed the outage’s cause, while AMC and others question Stock Tokens issued without companies’ participation. On Sept. 4, the Ethereum layer-2 network halted block production for at least 14 minutes, stalling transactions before activity began recovering.