Since Robinhood Chain launched, 375,740 users have traded through the FOMO trading terminal. According to data from analytics platform Dune, 357,528 of them, or 95%, either lost money or made less than $100. Just 229 users, or 0.06% of the total, made more than $10,000.
A total of 3,504 addresses, or 0.9%, recorded gains of more than $1,000, while 653 addresses, or 0.17%, made more than $5,000. Profits were concentrated among a small group of addresses: thousands of wallets recorded four-figure gains, compared with hundreds of thousands that failed to clear even the symbolic $100 threshold.
FOMO is one of the main trading terminals used by retail users on Robinhood Chain. By the end of August, it accounted for about 36% of the trading volume among similar apps.
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On September 4, daily decentralized exchange volume on Robinhood Chain topped $3B for the first time, with Uniswap accounting for about 98% of the total. On the same day, the protocol burned 184,000 UNI worth $1.15M, marking the first time the value of tokens burned in a single day exceeded $1M. By the amount of UNI burned, it was the second-largest result ever under the mechanism.
Robinhood Chain accounted for 150,000 burned UNI worth about $940K, or more than 80% of the daily total. Ethereum contributed another 16,000 UNI, Base accounted for 10,000, while BNB Chain and Arbitrum each contributed 4,000 UNI.
After protocol fees were introduced, fees generated on Robinhood Chain have been directed toward the protocol’s programmed UNI burns. By early September, the network had become Uniswap’s largest source of protocol fees, accounting for more than $11M out of roughly $13.6M in fees on some days.
The record UNI burn coincided with the first day when decentralized exchange volume on Robinhood Chain exceeded $3B. Fees from that volume were used to burn tokens.
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