Noxa, the largest token launch platform on Robinhood Chain, stopped trading after earning approximately $12 million in fees, according to DefiLlama, last week, citing concerns about low-quality tokens flooding the platform.
The closure unfolded in a matter of days. On July 11, just as CASHCAT, the chain’s innovative memecoin, was reaching its peak trading volume, Noxa said it would stop accepting new token drops.
Two days later, the platform’s website was turned off. The team placed the blame on a Cloudflare issue. On July 14, it said the domain would be redirected to ENS services and creator earnings would be available for withdrawal. On Tuesday night, Noxa posted that the platform would no longer charge fees and would instead redirect 100% of transaction revenue to creators.
The decision divided Crypto Twitter.
“Half the timeline called it based on someone finally rejecting the spam,” @zubic_eth wrote in a widely shared post summarizing the situation. “The other half called it a generational mistake and said they killed the goose that laid the golden eggs while making $3 million a day.”
