Noxa, the launchpad that propelled CASHCAT's success, amassed nearly $12 million in fees before abruptly ceasing operations, leading to a significant downturn in Robinhood Chain's memecoin market.
By Oliver Knight|Edited by Sheldon Reback Jul 15, 2026, 12:11 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on The launchpad Noxa halted its token launches on July 11. (WikiImages/Pixabay)SummaryShow- Noxa collected nearly $12 million in fees before it ceased operations on July 11 and went silent two days later.
- CASHCAT, the memecoin responsible for most of this activity, plummeted over 33% in just 24 hours. Notable trader 0xAvast, who claims to have profited from the token's rise from a $10,000 market cap to $230 million, termed the selloff "irrelevant FUD."
- The market cap for tokenized real-world assets, the primary purpose of Robinhood Chain, stands at only $12.66 million, while CASHCAT at its peak was valued at 12 times that amount.
Noxa, the leading token launchpad on Robinhood Chain, ceased operations after reportedly earning around $12 million in fees, as per DefiLlama, within a week, citing an influx of low-quality tokens as a concern.
The closure transpired quickly. On July 11, as CASHCAT, the chain's standout memecoin, was reaching peak trading levels, Noxa announced it would stop new token launches.
Just two days later, the platform's website became inaccessible. The team attributed this to a Cloudflare issue. By July 14, they indicated that the domain would redirect to ENS services and that creator earnings would be available for withdrawal. Late Tuesday night, Noxa declared it would no longer charge fees, instead redirecting all transaction revenue to creators.
This decision sparked a divide within Crypto Twitter.
"Half the timeline celebrated it for combating spam," stated @zubic_eth in a widely circulated post. "The other half criticized it as a major blunder, arguing they jeopardized a lucrative operation that was making $3 million daily."
CASHCAT has since fallen over 33% in a single day. Noted trader 0xAvast, who claims to have turned an initial investment into seven figures while riding the token from a $10,000 market cap to $230 million, commented on Wednesday that the current price is a buying opportunity and dismissed the Noxa situation as "irrelevant FUD." The token's decline has persisted.
The market cap for tokenized real-world assets, the intended use of the Robinhood Chain, currently stands at approximately $12.66 million, significantly lower than CASHCAT's peak valuation last week, which was 12 times higher than this figure.
Read more: Robinhood rolls out public blockchain as it expands deeper into crypto
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Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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