The launchpad that fueled Robinhood Chain's memecoin boom just gave away all its revenue

Finance The launchpad that fueled Robinhood Chain's memecoin boom just gave away all its revenue Noxa, the launchpad behind CASHCAT's rise, racked up nearly $12 million in fees before going dark, giving away its revenue, and leaving Robinhood Chain's memecoin economy in freefall. By Oliver Knight | Edited by Sheldon Reback Jul 15, 2026, 12:11 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Launch platform Noxa abruptly halted token launches on July 11. (WikiImages/Pixabay) Summary Show Noxa generated nearly $12 million in cumulative fees before abruptly halting token launches on July 11 and going dark two days later. CASHCAT, the memecoin that drove the majority of that activity, is down more than 33% in 24 hours. Prominent trader 0xAvast, who claims to have ridden the token from a $10,000 market cap to $230 million, called the selloff "irrelevant FUD." Tokenized real-world assets — the use case Robinhood actually built the chain for — account for just $12.66 million in market cap on the network. At its peak, CASHCAT alone was worth 12 times that figure. Noxa, the largest token launchpad on Robinhood Chain, stopped operating after earning an estimated $12 million in fees , according to DefiLlama, in the past week, citing concerns about low-quality tokens flooding the platform. The shutdown unfolded in a matter of days. On July 11, just as CASHCAT, the chain's breakout memecoin, was hitting peak trading volume , Noxa said it would stop accepting new token launches. Two days later, the platform's website went dark. The team blamed a Cloudflare issue . On July 14, it said the domain would redirect to ENS services and creator earnings would be available for withdrawal. Late Tuesday night, Noxa posted that the platform would no longer collect fees, redirecting 100% of transaction revenue to creators instead. The decision divided Crypto Twitter. "Half the timeline called it based because someone finally pushed back against the spam," wrote @zubic_eth in a widely shared post summarizing the situation. "The other half called it a generational fumble and said they killed the golden goose while making $3 million a day." CASHCAT has dropped more than 33% in 24 hours . Prominent trader 0xAvast, who claims to have turned a small early position into seven figures riding the token from a $10,000 market cap to $230 million, posted on Wednesday that the current price represented a buying opportunity and that the Noxa situation was "irrelevant FUD." The token has continued to fall since. Tokenized real-world assets, the use case Robinhood actually built the chain for, currently sit at roughly $12.66 million in market cap. At its peak last week, CASHCAT alone was worth 12 times that figure. Read more: Robinhood rolls out public blockchain as it expands deeper into crypto Robinhood Memecoin Latest Crypto News 1 Japan reclassifies crypto as a financial asset, paves way for tax cuts 7 minutes ago 2 Strategy feels 'very secure' until bitcoin reaches $8,000-$10,000, says CEO 12 minutes ago 3 Bitcoin rally cools as investors digest inflation data, oil clouds outlook 26 minutes ago 4 Crypto steadies as Middle East tensions counter U.S. inflation report boost 1 hour ago 5 Stripe mounts blockbuster $53 billion bid to buy PayPal 1 hour ago 6 Live markets: Bitcoin, ether ETFs draw inflows as majors rise as much as 5% 3 hours ago 7 UK plans first G7 digital sovereign bond by early 2027 3 hours ago 8 AI agentic payments enter mainstream as Visa, Mastercard, Ripple back x402 standard 6 hours ago 9 Bitcoin nears $65,000 as cooling U.S. inflation guts the Fed rate-hike trade 6 hours ago 10 U.S. CFTC moves to stop Kalshi from canceling trades as ordered by Michigan court 15 hours ago Latest Research Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. By CoinDesk Research Jul 13, 2026 CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. Why it matters : CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. View Full Report More From Finance Stripe mounts blockbuster $53 billion bid to buy PayPal UK plans first G7 digital sovereign bond by early 2027 Binance bets on becoming a crypto 'super app' as stablecoins reshape growth