Noxa, Robinhood Chain’s largest token launcher, ceased operations last week after racking up an estimated $12 million in fees, citing concerns about low-quality tokens flooding the platform, according to DefiLlama.
The closure happened within days. Just on July 11th, $cashcatAs trading volume for the chain’s breakout meme coin reached its peak, Noxa announced that it would stop accepting new token launches.
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 will no longer collect fees and will instead direct 100% of transaction revenue to creators.
This decision led to the split of the Twitter cryptocurrency.
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.”
