How Robinhood Chain’s biggest launchpad made $12 million and disappeared

Noxa, the largest token launchpad on Robinhood Chain, stopped operating after earning an estimated $12 million in fees, according to DefiLlama, in the past week, citing concerns about low-quality tokens flooding the platform.

The shutdown unfolded in a matter of days. On July 11, just as CASHCAT, the chain’s breakout memecoin, was hitting peak trading volume, Noxa said it would stop accepting new token launches.

Two days later, the platform’s website went dark. The team blamed a Cloudflare issue. On July 14, it said the domain would redirect to ENS services and creator earnings would be available for withdrawal. Late Tuesday night, Noxa posted that the platform would no longer collect fees, redirecting 100% of transaction revenue to creators instead.

The decision divided Crypto Twitter.

“Half the timeline called it based because someone finally pushed back against the spam,” wrote @zubic_eth in a widely shared post summarizing the situation. “The other half called it a generational fumble and said they killed the golden goose while making $3 million a day.”