NOXA Shuts Down Launchpad After Dominating Robinhood Chain, Sparking Exit Speculation
After generating more than $14 million in protocol fees and briefly overtaking Pump.fun, NOXA has halted its launchpad operations on Robinhood Chain.
The Astonishing Rise of NOXA Takes an Abrupt Tumble
Just a few days after taking over as the leading meme coin launchpad on the Robinhood Chain, NOXA has effectively stopped all operations relating to its launchpad, with users left wondering what happened.
In just a short while after experiencing explosive growth due to the rise in popularity of CASHCAT, the platform managed to earn over $14.5 million in protocol fees alone.
Nonetheless, this positive streak was abruptly halted.
On July 11, NOXA stated that it would temporarily halt minting of any additional tokens due to the rising number of poor quality launches, liquidity splitting issues, and the increasing amount of spam bots. In turn, back then, many users were happy about such a decision and believed that it would positively impact the ecosystem.
Website Outage
Soon after the announcement of halting the minting of any new tokens, the website of NOXA went down.
At first, the developers cited Cloudflare domain problems for the website being down and said they were trying out the new website. As per the latest announcements, the creators will receive their accumulated fees on the new website.
Move Aside, NOXA – Robinhood Chain Continues Moving Forward
NOXA was certainly the center of attention for Robinhood Chain when the platform experienced its meme coin craze. However, in its absence, other competitors are already making their way into the picture.
On-chain data has shown that about 20,000 new meme coins have been launched on Robinhood Chain on July 13, as rival launchpads continue to take market share while NOXA is down.
And Now What?
As for now, the official account of NOXA claims it is still fixing its infrastructure and enabling creators to withdraw their earnings. It is yet unknown whether this project will return to being the number-one launchpad of Robinhood Chain or not, but one thing is sure – for the moment being, this is just another example of the pace of today’s blockchain-based markets.