Noxa, the largest token launchpad on Robinhood Chain, shut down after earning around $12 million in fees, according to DefiLlama, last week, citing concerns about low-quality tokens flooding the platform.
The closure happened within a few days. On July 11, as CASHCAT, the on-chain memecoin, reached its peak trading volume, Noxa announced that it would stop accepting new token launches.
Two days later, the platform’s website went dark. The team blamed an issue on Cloudflare. On July 14, it announced that the domain would be redirected to ENS Services and that creators’ earnings would be available for withdrawal. On Tuesday evening, Noxa announced that the platform would no longer collect fees, instead redirecting 100% of transaction revenue to creators.
The decision divided Crypto Twitter.
“Half the timeline called it based on someone finally pushing back on spam,” wrote @zubic_eth 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.”
