NOXA beats Pump.fun on protocol revenue for five days
NOXA, a meme launch platform on Robinhood Chain, has generated more protocol revenue than Pump.fun for five straight days, according to Dune data cited by Odaily. Total protocol fees have passed $13.44 million, and more than $11.6 million of that came between July 8 and July 12.
Odaily said the project is built by a single developer, Amun Phantom, who uses the X handle @AmunPhantom. If all protocol fees went to him personally, the report said he may have become the first developer on Robinhood Chain to make income at that scale.
July 8 marked the platform’s turning point
Odaily linked part of NOXA’s breakout to the timing of Robinhood Chain’s launch. The report said NOXA had started warming up meme tokens before Robinhood Chain officially went live on July 1, but early traction was limited.
The shift came on July 8, when Robinhood’s CEO wrote on X: “虽然想把 Robinhood Chain 打造成 RWA 的最佳支付链，但它对 Meme 同样适用,” as quoted in the original report. After that, CASHCAT, a meme token launched through NOXA, climbed quickly and reached a $230 million market cap within three days, giving the platform a major boost.
Dune data cited by Odaily showed a sharp increase in new meme token creation on Robinhood Chain from July 8 onward, with average daily additions above 15,000. Even with more than 10 launch platforms competing in the market, the report said NOXA remained in the lead and accounted for more than 80% of meme token launches on the chain.
Odaily added that NOXA’s website went down on July 12 because of a Cloudflare issue, which meant users could not create tokens during the outage.
Amun Phantom calls NOXA a DegenFi protocol
Many users view NOXA as a meme launchpad in the style of Pump.fun. Amun Phantom, according to Odaily, does not describe it that way. He sees NOXA as the first and currently the only DegenFi protocol on the market.
The platform’s official X bio says it supports the newest blockchains first, even before some of those chains are fully live. Odaily used that line to frame NOXA’s strategy: move early and build meme infrastructure on new chains as soon as possible.
NOXA has also passed 270,000 total active wallets. The report noted that its daily active wallets and daily token count still trail Pump.fun, but its protocol fees have stayed ahead since July 8.
From DEX to launchpad
Odaily said NOXA started out as a DEX that offered swap services for new chains. In September 2025, the project announced on X that it would launch a Pumpfun-style token issuance platform. The launchpad went live in October 2025, with monad as the first supported chain, and copied Pump.fun’s inner-outer market structure and bonding curve mechanism.
That version did not work well, the report said. NOXA then added support for newer chains including Plasma and MegaETH, before eventually finding product-market traction on Robinhood Chain.
Its token issuance design has since changed. Odaily said Amun Phantom removed the bonding curve, sends each token directly into a Uniswap v3 pool, uses a setup similar to clanker, and has also removed swap functions from the platform so that it operates purely as a token launch product.
Momentum and doubts now sit side by side
Odaily presented Amun Phantom as a developer who spent a long time tracking new-chain opportunities before landing on a winning market. The report said he wrote a personal motto in October 2025: “你之所以无法成为一名成功的 Crypto 开发者，是因为你没有深入战壕.”
The same article also raised doubts about that model. It described fast adaptation of existing products to new blockchains as a familiar path for crypto developers looking to earn quickly, and placed Amun Phantom in that category, while noting that he appeared more sensitive to trends and more persistent than many peers.
Odaily also said he may not stay committed to any one chain ecosystem for long, and noted that he has promoted many meme coins on his personal X account.
Outage puts pressure on NOXA’s lead
At the time of publication, NOXA’s website had been down for more than 20 hours, according to Odaily. The report said that in a highly competitive Robinhood Chain launch market, every extra second of downtime risks giving rivals more room to take share.
That leaves a more immediate question than whether NOXA can beat Pump.fun over the long run: whether it can hold onto its lead among Robinhood Chain meme launch platforms while the outage drags on.