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Noxa halts token launches on Robinhood Chain after nearly $12M in fees

Noxa stopped accepting new launches on July 11, its website went dark two days later, and it later said it would route 100% of transaction revenue to creators.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Noxa, the launchpad behind much of the activity on Robinhood Chain, abruptly halted token launches on July 11 and later went dark two days afterward.

According to CoinDesk, Noxa generated nearly $12 million in cumulative fees before stopping, and it attributed the shutdown to concerns about low-quality tokens flooding the platform. In the days around the pause, CASHCAT, the memecoin that drove most of the launchpad activity, fell more than 33% in 24 hours.

CoinDesk also notes that the tokenized real-world assets on the network, described as Robinhood Chain's original use case, total about $12.66 million in market cap, while CASHCAT alone was worth about 12 times that amount at its peak last week.

After the site went dark, CoinDesk says Noxa later moved to redirect the domain to ENS services and enable creator earnings withdrawals, then posted that it would stop collecting fees and redirect 100% of transaction revenue to creators.

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