Noxa, Robinhood Chain’s largest token launcher, ceased operations last week after accumulating an estimated $12 million in fees, according to DefiLlama, citing concerns about low-quality tokens flooding the platform.
The closure happened within days. Just on July 11th, $cashcatNoxa, the breakout meme coin on the chain, has announced that it will stop accepting new token issuances as trading volumes have peaked.
Two days later, the platform’s website went black. The team blamed it on an issue with Cloudflare. On July 14th, it announced that domains will be redirected to the ENS service and creators’ earnings will be available for withdrawal. Late Tuesday night, Noxa posted that the platform would no longer collect fees and instead direct 100% of transaction revenue to creators.
This decision caused the cryptocurrency Twitter Inc. to split.
In a widely shared post summarizing the situation, @zubic_eth wrote, “Half of the timeline claimed that was because someone finally took a stand against spam.” “The other half called it a generational failure and said they killed the golden goose while making $3 million a day.”
