Noxa, the largest token launch platform on the Robinwood Chain, suddenly stopped the new tokens on line and announced that the proceeds of the transaction would be fully transferred to the creators, after having accumulated nearly $12 million in fees over a short period of time. After the platform was shut down, the memes that relied on its flow quickly cooled.
Noxa ceased operations within days
According to DefiLlama, the cumulative cost of Noxa over the past week was close to $12 million. On 11 July, on the occasion of the most active trade in the chain's mechanized CASHCAT, Noxa announced that it would no longer accept applications for the issuance of new tokens.
Two days later, the Noxa website could not be accessed, and the team attributed the problem to Cloudflare. By 14 July, the platform indicated that domain names would jump to the ENS service and that the creator ' s proceeds would still be available. Subsequently, Noxa announced that it would no longer charge platform fees, and that 100 per cent of future transaction revenue would be directly owned by the creator.
CASHCAT dropped by 33% 24 hours.
The suspension of Noxa was quickly transmitted to the most active memes in the chain. Data show that CASHCAT fell by more than 33 per cent in 24 hours. This token was previously the most traded project in Robinhod Chain and the main source of income growth for Noxa.
Despite the impact of the downscaling of traders on social platforms, which claimed that the current decline was noise, token prices continued to fall thereafter. Market differences have also widened, with some users suggesting that the platform ' s exit has weakened liquidity.
RWA size is only about $12.66 million.
When Robinwood launched the chain, it was more focused on the monetization of real world assets, the RWA scene. But the total market value of RWA on the network is only about $12.66 million.
In contrast, the market value of CASHCAT at the height of last week was 12 times that figure. This means that the most focused activity in the chain is not RWA, but a short-term outbreak of mercantile transactions. The suspension of Noxa also revealed the high dependence of the ecology on a single hotspot and a single platform.