15 Launchpads compete in the Robinhood Chain launch battle, with Pons temporarily staging an upset to take the top spot as NOXA dethrones.

Author: Nancy, PANews

No one expected that the Robinhood Chain, which comes from a long-established tradition, has now become a battleground that everyone is fighting over as a MEME launchpad.

In just three short weeks, this fast-growing new Meme frontline has rapidly attracted 15 Launchpads to move in, and competition around asset issuance, user traffic, and on-chain liquidity is heating up quickly.

This launch war is not only driving the rapid expansion of the Robinhood Chain ecosystem, but is also reshaping the competitive landscape of the Meme track, with multiple metrics even surpassing Solana—becoming the focus of the next round of on-chain traffic contention.

Launchpad has become the core ecosystem entry point, and Meme heat has not cooled

Launchpad on Robinhood Chain has become the most active application scenario in the current on-chain ecosystem.

According to Dune data, on July 20, the trading volume of Robinhood Chain Launchpad-related tokens reached $137 million, accounting for 32.7% of the total on-chain DEX trading volume for the day. At the same time, the number of active Launchpad addresses was about 142k, accounting for 51.9% of the total active addresses across the chain.

The data shows that Launchpad has become the core entry point driving Robinhood Chain ecosystem growth. It not only contributes a large share of on-chain transaction activity, but also serves as an important entry for attracting users into the ecosystem.

After experiencing the first wave of speculative frenzy, the Meme market heat on Robinhood Chain has cooled somewhat from its peak, but trading scale and user participation have remained at a relatively high level. Ecosystem activity has not shown any obvious decline.

In terms of issuance scale, as the number of on-chain issuance entry points continues to increase, the number of Meme tokens has expanded rapidly. Dune data shows that the number of new tokens added per day on Robinhood Chain grew from 129 in the early stage to a peak of 48k, followed by a pullback, but it is still staying above 34k.

On the front of trading activity, Dune data shows that Robinhood Chain Launchpad’s daily trading volume has grown from about $480k on June 30 to $137 million today, peaking at over $260 million in between. Although the current trading scale is lower than the peak, on-chain liquidity has already taken shape initially and built some market base.

User participation has also maintained an upward trend. At the end of June, the number of active wallets related to Robinhood Chain Launchpad was fewer than 10k. Then in July it grew rapidly, reaching a peak of about 153k on July 11, and it is still around 142k now.

However, in terms of asset quality, among more than 363k tokens issued on Robinhood Chain, only three tokens have market caps in the ten-million USD range, including $CASHCAT, $Pons, and $TENDIES; tokens with market caps in the million USD range are only about 20. Among them, the flagship Meme coin $CASHCAT’s market cap has already fallen from a high of $230 million to around $80 million.

Overall, although some short-term speculative capital has gradually exited, on-chain users have not concurrently suffered a large-scale outflow, and overall ecosystem participation remains active.

Multiple platforms compete side by side; Pons replaces NOXA as the new traffic center

At present, the Launchpad ecosystem on Robinhood Chain is diversifying and expanding, mainly covering directions such as AI, infrastructure, modular issuance, fair launches, and RWA.

According to Dune data, in the initial period after going live on June 30, there was only one Launchpad on Robinhood Chain—NOXA. But now the number of major on-chain launch platforms has grown to 15.

These Launchpad platforms each have their own strengths and are forming differentiated competition. For example, platforms such as Pons, Flap, and Bow.fun focus on modular issuance and high-performance asset creation; Virtuals Protocol, Bankr, and Clanker focus on AI Agents and advanced infrastructure; Coinbarrel V2, Degen Launch, and pmav are more oriented toward fair launches and the Degen ecosystem; Long.xyz is trying to explore a new model combining tokenized stocks, RWA, and Meme assets. A diversified platform layout means Robinhood Chain is gradually building a Launchpad ecosystem that covers different projects and user needs.

However, while the number of platforms grows quickly, the market’s competitive landscape also shows a clear “top-heavy” effect—token issuance volume, trading scale, and user traffic are all continuing to concentrate toward leading platforms.

In terms of token issuance volume, in the early stage of the ecosystem, NOXA used its first-mover advantage to capture most of the market share. Before July 10, almost all new on-chain token issuance came from NOXA, making it the main asset issuance entry point in Robinhood Chain’s early days. After NOXA paused token issuance, its market share was quickly split up by other platforms. As of the July 20 data, Pons has reversed and become the largest token issuance platform, accounting for about 37.5% of the overall Launchpad market. Flap follows closely with a share of about 26.6%.

In terms of trading performance, NOXA held a dominant position for a long time thanks to its first-mover advantage, with its share of trading volume once exceeding 95%. But as new platforms rose, the market structure gradually changed. Dune data shows that on July 20, the trading volume of tokens on the Pons platform accounted for about 61.7% of the total Launchpad market, while NOXA accounted for about 22.5%; together, they contributed more than 80% of trading volume.

In terms of user distribution, changes in the competitive landscape are even more straightforward. During the peak of the ecosystem, NOXA attracted more than 118k active addresses in a single day, accounting for about 78.2% of the day’s Launchpad market share. As of July 20, Pons has become the Launchpad with the largest user base, with active wallets accounting for 51.2% of total active wallets; NOXA’s share dropped to about 15.5%, and Flap’s share was about 9.3%.

Notably, although NOXA’s market share dropped clearly after pausing token issuance, its brand influence has not disappeared entirely. At present, the NOXA domain has been acquired by Rain.fun and relaunched as a new Launchpad on Robinhood Chain. Whether it can regain market share in the future by leveraging its existing brand and user base is still worth ongoing attention.

Multiple metrics surpass Solana; Robinhood Chain becomes the new battleground for traffic

Robinhood Chain is becoming an emerging main battlefield in the Meme coin track.

Compared with the Solana Meme market—which has already formed a mature ecosystem—although the Robinhood Chain Launchpad has a shorter development cycle, it has already demonstrated strong competitiveness in metrics such as token issuance scale and user participation, with some data even exceeding Solana’s同期 level.

From the number of tokens issued daily, Dune data shows that on July 20, Solana’s ecosystem Meme coin issuance was about 23k tokens, while Robinhood Chain issued more than 34k tokens in the same period, leading Solana by nearly half.

In terms of active users, Robinhood Chain also performs more actively. Dune data shows that Solana Launchpad-related active addresses exceeded 79k, while Robinhood Chain reached about 142k—nearly double Solana.

In terms of revenue capture ability, Dune data shows that on July 20, the Solana Launchpad generated revenue of over $317k, while Robinhood Chain was about $279k. Considering that Solana has a more mature Meme ecosystem foundation, Robinhood Chain achieving revenue performance close to that level further reflects how active its Meme trading activity is.

However, although Robinhood Chain is quickly catching up to Solana in some metrics, there are clear differences between their ecosystems. Currently, Solana relies heavily on Pump.fun, while Robinhood Chain shows a diversified competitive pattern.

Dune data shows that on July 20, Pump.fun contributed about 99.3% of the token issuance in the Solana ecosystem Meme track—almost monopolizing the entire segment. Meanwhile, its token trading volume accounted for about 97.7% of the Solana Launchpad market, nearly forming a “one-platform-dominates” situation.

In contrast, Robinhood Chain is currently a “hundred flowers bloom” environment and has not yet formed an absolute monopoly platform like Pump.fun. At present, token issuance is jointly contributed by multiple Launchpads, including Pons, Flap, Clanker, Bow.fun, Bankr, and Virtuals, and trading liquidity is also mainly concentrated across multiple platforms such as Pons, NOXA, Flap, and Bow.fun. Of course, this also relates to the fact that Robinhood Chain is still in an early stage of ecosystem development.

And as ecosystem heat continues to rise, more and more Launchpads from other chains are joining the competition, including Flap, Virtuals, Clanker, Bankr, and Circus Trade platforms from BNB Chain, Base, and Solana ecosystems—all attempting to capture a share in Robinhood Chain’s emerging Meme market.

However, in the long run, the outcome of competition in the Launchpad ecosystem does not depend on token issuance volume, but on whether a platform can improve asset quality, strengthen user retention, and form sustainable ecosystem development capabilities.