Noxa has halted new token launches on Robinhood Chain after bots and copycat deployments overwhelmed the launchpad during the network’s first major memecoin trading cycle.
The platform stopped accepting new launches on July 11, citing low-quality tokens and automated accounts creating near-identical assets at a pace that diluted attention across the market. Existing Noxa-issued tokens remain transferable and tradable through decentralized exchanges and trading interfaces.
About 60,000 tokens had been deployed through Noxa before the freeze. The launchpad generated roughly $12 million in fees during the initial surge, while continued trading in existing markets has since lifted cumulative Robinhood Chain fees above $13.5 million.
Noxa’s original website later became inaccessible. The team moved access to an ENS and IPFS-based interface and redirected all future transaction fees to token creators, leaving protocol revenue at zero while creator fee claims remained available.
CASHCAT Falls as DEX Activity Cools
Noxa supplied much of the issuance infrastructure behind Robinhood Chain’s memecoin boom, including CASHCAT, the network’s first breakout community token.
CASHCAT fell more than 30% during the disruption and later traded near $0.05, cutting its market capitalization to roughly $53 million after previously approaching $200 million. Its main Robinhood Chain pool continued processing millions of dollars in daily turnover, but the selloff erased much of the token’s launch-period advance.
Robinhood Chain had previously held above $824 million in daily DEX volume as CASHCAT, HOODIE and thousands of smaller tokens drove trading. Daily turnover later fell toward $600 million to $660 million, down roughly one-quarter from the network’s $877.6 million July 12 peak.
The decline did not shut down Robinhood Chain or remove existing Noxa assets. Other launchpads, Uniswap pools and third-party trading tools remain active on the permissionless Layer 2.
Robinhood Rejects Memecoin Restrictions
Robinhood Crypto chief Johann Kerbrat said the chain will continue supporting memecoin activity despite the company’s focus on stock tokens and real-world assets.
Restricting which assets developers can deploy would be “anti-crypto,” Kerbrat said, separating Robinhood’s product priorities from activity permitted at the blockchain level.
Robinhood launched the network around tokenized equities, stablecoin payments, lending and institutional settlement. CEO Vlad Tenev has since invited developers to embed stock tokens and RWAs into applications, while acknowledging that the same open infrastructure can support speculative tokens.
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