Solana
Solana Co-Founder Criticizes Robinhood Chain Fee Model and Network Congestion
Anatoly Yakovenko questioned the fee structure of Robinhood's Arbitrum-based network, contrasting its transaction costs with Solana's model.
Solana co-founder Anatoly Yakovenko has publicly criticized the fee mechanisms of Robinhood Chain, arguing that the brokerage profits from network congestion instead of offering lower base transaction costs. Robinhood Chain, which launched on July 1, 2026 using Arbitrum technology settled to Ethereum, recently generated $4.22 million in daily fees across roughly 10.4 million transactions, translating to an average cost near $0.40 per transaction.
Yakovenko pointed out that Robinhood pays 10% of its net revenue to Arbitrum under licensing terms—allocating 8% to the Arbitrum DAO and 2% to the Developer Guild. He asserted that this revenue share alone could cover Solana transaction fees four times over, which cost a base fee of 5,000 lamports (under a cent with SOL trading near $102), potentially allowing for a gasless user experience.
In response, Gnosis co-founder Martin Köppelmann argued that Robinhood operates to generate revenue rather than subsidize free transactions. The discussion follows rapid growth on Robinhood Chain, which Grayscale listed alongside Solana and BNB Chain as a top venue for tokenized stocks, despite a brief block production halt on the network earlier in the week.
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