Has @RobinhoodApp already taken over these chains?

> $ARB
> $OP
> $MEGA
> Base
Some say Robinhood Chain has taken over the L2s.
Some say it's already dead.
So, which one is it?
Here's the L2 landscape right now, across the two metrics that actually matter: where capital sits (TVL) and where capital gets used (fees).
1️⃣ TVL: the parked capital
$7.16B is locked across L2s.
> Base owns 63.4% of it ($4.54B), more than every other chain combined. > Arbitrum is a distant second at 16.7% ($1.20B).
Robinhood Chain? 4.7% ($333M).
To be honest, this is really impressive for a chain that launched just 30d ago. It has taken up nearly 5% of the market. Will it sustain this though?
2️⃣ Fees: the real economic demand
$6.08M in fees across these L2s.
> Robinhood Chain generated 53.6% of it ($3.26M).
> More than Base (31.4%, $1.91M). More than everyone else combined.
The chain holding under 5% of L2 capital is producing over half of all L2 fee revenue.
This can be credited to two things - its the new tech on the block, its meme game erupted in the first couple of weeks itself.
Put the two side by side:
Robinhood Chain: 4.7% of the capital, 53.6% of the fees.
Base: 63.4% of the capital, 31.4% of the fees.
Per dollar of TVL, Robinhood Chain is generating roughly 23x the fees Base does. That's not a dead chain. That's a chain where capital is moving, not sitting.
How long will the capital move for? That's a much bigger question that only time answers.
The honest caveats
A 30d snapshot is not a trend. A high fee share can come from a single dominant app or a specific fee model, so the real question is whether this demand is broad or concentrated, and whether it holds for another quarter. Idle TVL on Base isn't "bad" either: deep, sticky liquidity is its own moat.
The second month will clear up the Layer 2 race even more!