1ix_01ab7vmey.js

js entropyadvisors-com.vercel.app collected 2026-10-03 05:47:56 UTC 165,966 bytes, 1 lines download raw bytes

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" alt="Entropy Advisors"><button class="theme-toggle" id="themeToggle" type="button" aria-label="Switch color theme"><span class="theme-icon" aria-hidden="true">â</span><span class="theme-label">Light mode</span></button><div class="stamp"><b>Updated 7 September 2026 Â· v1.3</b><br>Fixed report, not updated on a schedule. Activity data begins 1 July; parameter history runs from genesis through 6 September 2026.</div></div></header>\n<section id="comparison" class="tabpage active">\n<div class="news-intro"><article class="news-copy"><div class="kicker">Robinhood Chain under load</div><h2>Robinhood Chainâs fee surge outpaced its transaction growth.</h2><p><b>Robinhood Chain runs Nitro and ArbOS as an Arbitrum Dedicated Blockchain.</b> That architecture separates the L2 execution price studied here from Ethereum L1 gas and Robinhood Chainâs L1 data fee. Robinhood Chain can set its own minimum base fee, target rates, and adjustment windows within Nitroâs multi-constraint pricing model.</p><p>The pricing mechanism keeps L2 gas use within the capacity its infrastructure can sustain over different periods. Backlogs let it react to short spikes and keep track of load that lasts longer. <a target="_blank" rel="noopener noreferrer" href="https://research.arbitrum.io/t/multi-constraint-pricing/9782">Arbitrumâs multi-constraint pricing research</a> explains why it uses several targets and windows instead of one combined constraint.</p><p>Transaction volume rose modestly across the comparison weeks, while L2 gas used rose much faster. The report looks at the fee move, the contracts that consumed the gas, and the backlog that carried excess demand from one block to the next.</p><p><b>Scope:</b> This is a descriptive reconstruction, not a correlation study or causal estimate. It reports observed findings and uses Robinhood Chainâs pricing rules to explain the fee path.</p><div class="news-sources"><a target="_blank" rel="noopener noreferrer" href="https://arbdata.com/robinhood/blockspace">Robinhood Chain metrics Â· arbdata.com</a><a target="_blank" rel="noopener noreferrer" href="https://docs.robinhood.com/chain/">Robinhood Chain docs</a><a target="_blank" rel="noopener noreferrer" href="https://robinhoodchain.blockscout.com/">Onchain explorer</a><a target="_blank" rel="noopener noreferrer" href="https://github.com/OffchainLabs/nitro/blob/v3.11.2/arbos/l2pricing/model.go">Nitro source</a><a target="_blank" rel="noopener noreferrer" href="https://research.arbitrum.io/t/multi-constraint-pricing/9782">Why multi-constraint pricing?</a><a target="_blank" rel="noopener noreferrer" href="https://docs.arbitrum.

1io/nitro-whitepaper.pdf">Nitro whitepaper</a></div></article></div>\n<section class="executive-summary" aria-labelledby="executive-summary-title"><h2 id="executive-summary-title">Executive Summary</h2><p class="summary-question"><b>Question:</b> Why did Robinhood Chainâs L2 base fee rise much faster than its transaction count?</p><ul><li><b>Transactions grew, but L2 gas used grew faster.</b> Across the two comparison weeks, transactions rose <b>7.5%</b> while L2 gas used rose <b>63.0%</b>.</li><li><b>Gas use became concentrated.</b> The top 3 destination contract addresses accounted for <b>47.7%</b> of recent L2 gas used; the top 10 accounted for <b>63.8%</b>.</li><li><b>Persistent demand created sustained backlog pressure.</b> When blocks used more L2 gas than the chain could clear at its configured rate, the excess carried over. The pricing formula turns that accumulated backlog into a higher shared base fee.</li></ul><p class="summary-method-note"><b>L2 gas-used measure:</b> We calculate <code>max(gas_used â gas_used_for_l1, 0)</code> from transaction receipts. This is the transaction receiptâs gas used after removing the L1 poster-gas equivalent. It is not a CPU-only or multigas <code>computation</code> measure.</p></section>\n<aside class="report-toc" aria-label="Report contents"><h2>Questions answered in this report</h2><ol><li><a href="#recent-activity-title"><span>What rose faster: activity or fees?</span></a></li><li><a href="#contract-pressure-title"><span>Which contracts concentrated the new L2 gas use?</span></a></li><li><a href="#demand-impact"><span>What does the top-three counterfactual show?</span></a></li><li><a href="#controller-explainer"><span>Why does sustained demand raise the L2 base fee?</span></a></li><li><a href="#methodDisclosure"><span>Which parameters control backlog growth and price pressure?</span></a></li><li><a href="#replay-validation"><span>How closely does the pricing replay match the observed price?</span></a></li><li><a href="#report-conclusion"><span>What does this mean for Robinhood Chain?</span></a></li><li><a href="#next-research"><span>What should be tested next?</span></a></li><li><a href="#evidence-sources"><span>Links and further reading</span></a></li></ol></aside>\n\n<section class="context-section" aria-labelledby="recent-activity-title"><div class="context-head sectionhead"><h2 id="recent-activity-title">What rose faster: activity or fees?</h2><p><b>Activity climbed, but fees broke away from the transaction trend.</b> Daily transaction volume stayed elevated through the summer. Robinhood Chainâs L2 gas price and average transaction fee then rose much faster in late August. That gap tells us to look at how much L2 gas each transaction used and how long the load persisted. Transaction count alone is not enough.</p></div><div class="context-grid"><article class="context-card"><h3>Daily transactions</h3><p>Activity peaked at <b>26.92M</b> transactions in one UTC day.</p><div id="dailyTransactions" class="plot context-plot"></div><a target="_blank" rel="noopener noreferrer" class="context-source" href="https://arbdata.com/robinhood/blockspace">Data Â· arbdata.com â</a></article><article class="context-card"><h3>Average L2 gas price</h3><p>Rose <b>23.4Ã</b>, from <b>0.020</b> to <b>0.468 Gwei</b>.</p><div id="dailyGasPrice" class="plot context-plot"></div><a target="_blank" rel="noopener noreferrer" class="context-source" href="https://arbdata.com/robinhood/blockspace">Data Â· arbdata.com â</a></article><article class="context-card"><h3>Average transaction fee</h3><p>Rose <b>154.4Ã</b>, from <b>$0.002</b> to <b>$0.298</b>.</p><div id="dailyTransactionCost" class="plot context-plot"></div><a target="_blank" rel="noopener noreferrer" class="context-source" href="https://arbdata.com/robinhood/blockspace">Data Â· arbdata.com â</a></article></div><p class="context-note"><b>Data window:</b> 1 July to 6 September 2026. See <a target="_blank" rel="noopener noreferrer" href="https://arbdata.com/robinhood/blockspace">Robinhood Chain Blockspace on arbdata.com</a>. Daily values come from Robinhood Chain transactions. USD fees use the daily ETH/USD price. The fee card provides outcome context; it is not an input to the pricing replay.</p></section>\n\n<section class="contract-pressure" aria-labelledby="contract-pressure-title">\n<div class="sectionhead"><h2 id="contract-pressure-title">Which contracts concentrated the new L2 gas use?</h2><p>Transactions tell us how often the chain was used; L2 gas used tells us how much gas those transactions consumed on Robinhood Chain. We compare L2 gas used by destination contract address across two equal seven-day windows: 24â30 August and 31 Augustâ6 September. We calculate it from onchain transaction receipts as <code>max(gas_used â gas_used_for_l1, 0)</code>

1. This is the transaction receiptâs gas used after removing the L1 poster-gas equivalent. It is not Nitroâs narrower multigas <code>computation</code> resource. Dates are UTC and block ranges are inclusive.</p></div>\n<div class="pressure-summary"><article><b>63.0%</b><span>more L2 gas used</span><small>24â30 Aug Â· blocks 44,418,352â50,419,085 Â· 14.65 Tgas<br>31 Augâ6 Sep Â· blocks 50,419,086â56,389,056 Â· 23.88 Tgas</small></article><article><b>7.5%</b><span>more transactions</span><small>24â30 Aug Â· blocks 44,418,352â50,419,085 Â· 80.0M<br>31 Augâ6 Sep Â· blocks 50,419,086â56,389,056 Â· 86.0M</small></article><article><b>63.8%</b><span>of recent L2 gas used</span><small>31 Augâ6 Sep Â· blocks 50,419,086â56,389,056<br>Top 10 destination contract addresses</small></article></div>\n<div class="contract-chart-row"><div class="panel concentration-panel"><div class="figurehead"><h2>L2 gas-used concentration</h2><p>Share of L2 gas used, 31 Augustâ6 September.</p></div><div id="concentrationPie" class="plot concentration-plot" role="img" aria-label="Top three destination contract addresses account for 47.7 percent of recent L2 gas used; ranks four through ten account for 16.1 percent; all other addresses account for 36.2 percent"></div></div><div class="panel pressure-panel"><div class="figurehead"><h2>L2 gas used by destination contract address</h2><p>Grouped bars compare the top 10 contract addresses plus the rest of the chain before and during the pressure period.</p></div><div id="contractPressure" class="plot pressure-plot"></div></div></div>\n<div class="pressure-reading"><h3>What activity did the busiest contract addresses handle?</h3><p><b>The increase was concentrated in trading and execution infrastructure.</b> Relay-style multicalls and GMGN swaps were the two largest contributors, while ERC-4337 EntryPoints batched smart-account operations. Two of the top three addresses map directly to routed trading. The third is general-purpose smart-account infrastru

1cture. Axiom, OKX and Uniswap also routed trades across liquidity venues. Pons was different: its <code>launchAndBuy</code> call creates a token and curve, then performs an initial purchase, making each transaction use more L2 gas.</p><p><b>The Fomo app was part of the same Robinhood Chain trading wave.</b> <a target="_blank" rel="noopener noreferrer" href="https://newsletter.fomo.family/p/1-300-pump-on-a-mascot-robinhood-integration-and-how-to-save-on-ai">Fomo announced Robinhood Chain support</a> and <a target="_blank" rel="noopener noreferrer" href="https://newsletter.fomo.family/p/the-first-10-million-pnl-on-fomo">later highlighted trading in PONS and CASHCAT</a>. <a target="_blank" rel="noopener noreferrer" href="https://x.com/RelayProtocol/status/2019808624617681256">Relay Protocol linked Fomoâs Robinhood Chain experience to Relay infrastructure</a>. This makes Fomo relevant to the leading Relay-style destination, but the data cannot isolate Fomo users or measure Fomoâs share of Relay traffic. It also cannot show that every Relay call was a memecoin trade. The GMGN link is more direct: <a target="_blank" rel="noopener noreferrer" href="https://gmgn.ai/blog/robinhood-chain-meme-coins-with-gmgn/">GMGN describes its Robinhood Chain product as a memecoin discovery and trading terminal</a>. A router may serve several interfaces, bots or end users. Its address shows what was executed, but not which front end sent the user there. The unverified router remains unlabeled because its ABI is not public.</p></div>\n<div class="constraint-table-wrap pressure-table-wrap"><table class="pressure-table"><thead><tr><th>Contract</th><th>Dominant method</th><th>Pressure-period gas</th><th>Increase</th><th>Share of net increase</th><th>Gas / tx</th><th>Observed role</th></tr></thead><tbody><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0x65050a9b7e5075a2ba5ced7b1b64ee66262c40dc"><b>GMGN router</b><small>0x65050a9bâ¦262c40dc</small></a></td><td><code>swap</code></td><td>4.799 Tgas</td><td>+3.531 Tgas</td><td>38.3%</td><td>410 Kgas</td><td>Routes token swaps across one or more pools for GMGN users.</td></tr><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0xccc88a9d1b4ed6b0eaba998850414b24f1c315be"><b>Relay multicall router</b><small>0xccc88a9dâ¦f1c315be</small></a></td><td><code>permit2TransferAndMulticall</code></td><td>4.662 Tgas</td><td>+2.953 Tgas</td><td>32.0%</td><td>946 Kgas</td><td>Permit2 transfers followed by batched calls, commonly used for routed swaps and relayed execution.</td></tr><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0x4337084d9e255ff0702461cf8895ce9e3b5ff108"><b>ERC-4337 EntryPoint</b><small>0x4337084dâ¦3b5ff108</small></a></td><td><code>handleOps</code></td><td>1.922 Tgas</td><td>+1.164 Tgas</td><td>12.6%</td><td>554 Kgas</td><td>Validates and executes batches of smart-account user operations.</td></tr><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0x4a86009a36fcec5aa341ffceb3205a911fcf6f60"><b>Axiom trade router</b><small>0x4a86009aâ¦1fcf6f60</small></a></td><td><code>axiomTrade</code></td><td>0.983 Tgas</td><td>+0.822 Tgas</td><td>8.9%</td><td>393 Kgas</td><td>Executes routed token trades through a universal-router style interface.</td></tr><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0x6e2a35a7ad683cf634d91492d73bb7ff774c6919"><b>OKX DEX router</b><small>0x6e2a35a7â¦774c6919</small></a></td><td><code>dagSwapTo / dagSwapByOrderId</code></td><td>0.683 Tgas</td><td>+0.433 Tgas</td><td>4.7%</td><td>528 Kgas</td><td>Splits and routes swaps across DEX paths selected by the OKX aggregator.</td></tr><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0xe492912f37c2a4eca45d42dc67548f4c6cd7ce2b"><b>GMGN router</b><small>0xe492912fâ¦6cd7ce2b</small></a></td><td><code>swap</code></td><td>0.453 Tgas</td><td>+0.317 Tgas</td><td>3.4%</td><td>448 Kgas</td><td>A second GMGN proxy used to route token swaps.</td></tr><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0x38140f2d60383fb4d1dd24d7092130d59a60cd6f"><b>Unverified trading router</b><small>0x38140f2dâ¦9a60cd6f</small></a></td><td><code>0x39ecce49</code></td><td>0.282 Tgas</td><td>+0.282 Tgas</td><td>3.1%</td><td>507 Kgas</td><td>A newly active router-like contract. Transfers indicate token trading, but no verified ABI names the method.</td></tr><tr><td><a target="_blank" rel="noopener noreferrer" href="https://robinscan.io/address/0x0000000071727de22e5e9d8baf0edac6f37da032"><b>ERC-4337 EntryPoint v0.7</b><small>0x00000000â¦f37da032</small></a></td><td><code>handleOps</code></td><td>0.395 Tgas</td><td>+0.207 Tgas</td><td>2.2%</td><td>486 Kgas</td><td>Validates and executes batches of smart-account user operations.</td></tr></tbody></table></div>\n<p class="source-note"><b>Attribution check:</b> âAll otherâ combines every contract address outside the top 10. Gas is assigned to the transaction destination, so internal

1calls, including oracle verification, remain under that outer address. Isolating oracle gas requires call traces.</p><p class="source-note"><b>L2 gas-used scope:</b> L2 gas used is receipt gas minus the L1 poster-gas equivalent. Nitro calls this value <code>computeGas</code>, but it is not a CPU-only or multigas <code>computation</code> measure. It feeds Robinhood Chainâs L2 backlog and excludes the L1 data fee.</p>\n<div class="sectionhead impact-head" id="demand-impact"><h2>What does the top-three counterfactual show?</h2><p>The first chart shows which addresses accounted for recent L2 gas use. The next two compare observed outcomes with a modelled path that excludes transactions sent to the three largest destination contract addresses and replays the same Robinhood Chain pricing mechanism. The fee chart averages only the remaining transactions.</p></div>\n<div class="impact-grid"><article class="panel"><div class="figurehead"><h3>How was L2 gas use distributed?</h3><p>Top 3: <b>47.7%</b>. Ranks 4â10: <b>16.1%</b>. Together, the top 10 account for <b>63.8%</b> of all chain L2 gas used.</p></div><div class="chart-mode-toggle" data-chart="impactGas" role="group" aria-label="L2 gas-used display"><button type="button" class="active" data-mode="absolute" aria-pressed="true">Mgas/s</button><button type="button" data-mode="share" aria-pressed="false">% share</button></div><div id="impactGas" class="plot impact-plot"></div></article><article class="panel"><div class="figurehead"><h3>Average L2 gas price: observed vs counterfactual</h3><p>Solid: observed onchain daily average. Dashed: the same pricing replay after excluding transactions sent to the three largest destination contract addresses.</p></div><div id="impactGasPriceNoTop3" class="plot impact-plot"></div></article><article class="panel"><div class="figurehead"><h3>Average transaction fee: observed vs counterfactual</h3><p>Solid: observed onchain daily mean in USD. Dashed: the remaining transactions repriced by the counterfactual model.</p></div><div id="impactTransactionFeeNoTop3" class="plot impact-plot"></div></article></div>\n<p class="impact-conclusion"><b>Counterfactual comparison:</b> on 6 September, the modelled path excluding the top three destination contract addresses has an average L2 gas price <b>77% lower</b> and an average fee for the remaining transactions <b>84% lower</b>. At the largest daily gap, the observed onchain price is <b>4.3Ã</b> the counterfactual path. The comparison follows the pricing mechanismâs backlog rules; it is not a statistical causal estimate.</p>\n</section>\n\n<div class="sectionhead" id="controller-explainer"><h2>Why does sustained demand raise Robinhood Chainâs L2 base fee?</h2><p>Nitro carries L2 gas use that exceeds its configured drain rates from one block to the next in accounting backlogs. Think of a bucket that is constantly being filled with L2 gas while gas leaks out at the configured target rate. When gas flows in faster than it leaks out, the level rises. That remaining gas adds pressure to the next base fee.</p></div>\n<div class="panel analogy-panel"><p class="analogy-lead">Robinhood Chain uses two constraints. Both record the same block L2 gas used, but each has its own target rate and adjustment window. J0 reacts to short spikes; J1 measures sustained load.</p><div class="sketch-grid">\n<article id="record-compute-gas" class="sketch-card"><h3>1 Â· Record L2 gas used</h3><svg viewBox="0 0 300 170" role="img" aria-label="The same L2 gas used is added to the J0 and J1 backlogs"><defs><clipPath id="inflow-fast-clip"><path d="M37 83 C38 108 42 128 51 138 L113 138 C122 128 126 108 127 83 Z"/></clipPath><clipPath id="inflow-slow-clip"><path d="M168 65 C169 98 174 126 186 138 L260 138 C272 126 277 98 278 65 Z"/></clipPath></defs><text class="sketch-label" x="112" y="19">g<tspan baseline-shift="sub" font-size="9">L2</tspan><tspan baseline-shift="baseline">(t)</tspan></text><path class="sketch-ink pour-arrow" d="M150 27 L150 42 M150 42 C119 45 82 52 82 62 L82 72 M75 65 L82 72 L89 65 M150 42 C181 45 222 51 222 55 L222 65 M215 58 L222 65 L229 58"/><rect class="bucket-water fast-water" x="37" y="111" width="90" height="27" clip-path="url(#inflow-fast-clip)">

1<animate attributeName="y" dur="3.1s" repeatCount="indefinite" values="111;96;111"/><animate attributeName="height" dur="3.1s" repeatCount="indefinite" values="27;42;27"/></rect><rect class="bucket-water slow-water" x="168" y="96" width="110" height="42" clip-path="url(#inflow-slow-clip)"><animate attributeName="y" dur="5.1s" repeatCount="indefinite" values="96;76;96"/><animate attributeName="height" dur="5.1s" repeatCount="indefinite" values="42;62;42"/></rect><path class="sketch-ink" d="M32 80 C33 106 37 131 49 143 L115 143 C127 131 131 106 132 80"/><path class="sketch-ink" d="M163 62 C164 97 169 129 183 143 L263 143 C277 129 282 97 283 62"/><text class="sketch-label j0-label" x="70" y="161">Bâ</text><text class="sketch-label j1-label" x="211" y="161">Bâ</text></svg><p><var>g<sub>L2</sub>(t)</var> is total receipt gas used after subtracting the L1 poster-gas equivalent. Nitro adds that same value to both backlogs; it is not divided between them.</p></article>\n<article class="sketch-card"><h3>2 Â· Drain each backlog</h3><svg viewBox="0 0 300 170" role="img" aria-label="Each backlog drains according to its target rate"><defs><clipPath id="drain-fast-clip"><path d="M43 55 C44 83 48 108 58 120 L112 120 C122 108 126 83 127 55 Z"/></clipPath><clipPath id="drain-slow-clip"><path d="M171 42 C172 75 177 108 189 120 L259 120 C271 108 276 75 277 42 Z"/></clipPath></defs><text class="sketch-label j0-label" x="40" y="25">J0 Â· Aâ = 15 s</text><text class="sketch-label j1-label" x="164" y="25">J1 Â· Aâ = 1 day</text><rect class="bucket-water fast-water" x="43" y="83" width="84" height="37" clip-path="url(#drain-fast-clip)"><animate attributeName="y" dur="2.8s" repeatCount="indefinite" values="83;98;83"/><animate attributeName="height" dur="2.8s" repeatCount="indefinite" values="37;22;37"/></rect><rect class="bucket-water slow-water" x="171" y="63" width="106" height="57" clip-path="url(#drain-slow-clip)"><animate attributeName="y" dur="5.2s" repeatCount="indefinite" values="63;73;63"/><animate attributeName="height" dur="5.2s" repeatCount="indefinite" values="57;47;57"/></rect><path class="sketch-ink" d="M38 52 C39 81 43 111 55 125 L115 125 C127 111 131 81 132 52"/><path class="sketch-ink" d="M166 39 C167 74 172 111 186 125 L262 125 C276 111 281 74 282 39"/><ellipse class="drain-hole j0-stroke" cx="85" cy="125" rx="9" ry="3.2"/><ellipse class="drain-hole j1-stroke" cx="224" cy="125" rx="6" ry="2.6"/><path class="drain-stream fast" d="M85 130 L85 155"/><path class="drain-stream slow" d="M224 129 L224 155"/><text class="sketch-muted j0-label" x="42" y="166">Tâ = 60 Mgas/s</text><text class="sketch-muted j1-label" x="178" y="166">Tâ = 40 Mgas/s</text></svg><p>Tâ±¼ sets the drain rate: the backlog grows only while demand exceeds Tâ±¼. Aâ±¼ does not slow the drain; it scales the remaining backlog into price pressure. J0 normalizes backlog against 15 seconds of target capacity; J1 normalizes it against one day.</p></article>\n<article class="sketch-card"><h3>3 Â· Calculate the next base fee</h3><svg viewBox="0 0 300 170" role="img" aria-label="Backlogs become pressure terms that are summed and converted into the next base fee"><rect class="sketch-ink" x="13" y="58" width="76" height="54" rx="4"/><text class="sketch-label" x="27" y="80">Bâ±¼â»</text><path class="sketch-ink" d="M25 87 L77 87"/><text class="sketch-muted" x="20" y="104">Aâ±¼ Ã Tâ±¼</text><text class="sketch-muted" x="18" y="126" style="font-size:7px">after drain Â· before block</text><path class="sketch-ink calc-arrow" d="M97 85 L129 85 M121 77 L129 85 L121 93"/><rect class="sketch-ink" x="137" y="63" width="61" height="44" rx="4"/><text class="sketch-label" x="145" y="90" style="font-size:10px">E = Î£e</text><text class="sketch-label" x="187" y="94" style="font-size:8px">j</text><path class="sketch-ink calc-arrow" d="M206 85 L226 85 M218 77 L226 85 L218 93"/><rect class="sketch-ink price-bulb" x="232" y="55" width="65" height="60" rx="5"/><text class="sketch-label" x="252" y="80">p</text><text class="sketch-label" x="261" y="84" style="font-size:8px">min</text><text class="sketch-label" x="242" y="100">Ã Pâ(E)</text></svg><p><b>Bâ±¼â» is the backlog after draining, before the current blockâs L2 gas is added.</b> The superscript minus marks this âpre-blockâ state;

1 it does not mean the value is negative. Each remaining backlog becomes a pressure term eâ±¼, and Nitro sums those terms to calculate the next base fee.</p></article>\n</div></div>\n\n<section class="method-static" id="methodDisclosure"><div class="method-static-head"><div><h2>Which parameters control backlog growth and price pressure?</h2><p>Robinhood Chainâs two constraints apply different target rates and time windows to the same block-level L2 gas use. The comparison below shows the active Robinhood Chain configuration and the ArbOS 61 ladder as a reference.</p></div></div><section class="constraint-section" id="constraint-parameters"><div class="constraint-head"><h3>How do Robinhood Chain and ArbOS 61 constraints compare?</h3><p>Robinhood Chain values come from decoded <code>ArbOwner.OwnerActs</code> events. The ArbOS 61 ladder is shown as a configuration reference only.</p></div><p class="analogy-rule"><b>Minimum base fee:</b> p<sub>min</sub> = <b>0.02 Gwei</b>. When E = 0, P<sub>4</sub>(0) = 1, so the next block is priced at 0.02 Gwei. Positive pressure multiplies this floor. Values reflect events indexed through 6 September 2026; owner-set parameters may change.</p><div class="parameter-comparison-grid"><div class="parameter-table-card"><h4>Robinhood Chain: current constraints</h4><p class="parameter-table-note">The active two-constraint pricing setup used in the replay below.</p><div class="constraint-table-wrap"><table class="constraint-table"><thead><tr><th>Constraint</th><th>Target rate Tâ±¼</th><th>Window Aâ±¼</th><th>Starting backlog</th><th>Current since</th></tr></thead><tbody>\n<tr class="event-current"><td><b>J0</b></td><td><b>60 Mgas/s</b></td><td>15 s</td><td>0</td><td>Unchanged since 10 Jul</td></tr>\n<tr class="event-current"><td><b>J1</b></td><td><b>40 Mgas/s</b></td><td>86,400 s</td><td>9.989 Tgas</td><td><a target="_blank" rel="noopener noreferrer" href="https://robinhoodchain.blockscout.com/tx/0xf7fb13105d87efee6e474a1510795dc7531ed4489d1304f6c7dd18c81c12276b">3 Sep 17:08:18 UTC Â· block 53,578,754</a></td></tr>\n</tbody></table></div></div><div class="parameter-table-card"><h4>ArbOS 61: comparison configuration</h4><p class="parameter-table-note">

1The six-constraint ladder is included for comparison and is not replayed in the figures. <a target="_blank" rel="noopener noreferrer" href="https://forum.arbitrum.foundation/t/aip-raise-the-gas-target-min-l2-base-fee-implement-improvements-to-the-pricing-algorithm/30182/1">See the official Arbitrum proposal.</a></p><div class="constraint-table-wrap arbos61-table-wrap"><table class="constraint-table"><thead><tr><th>Constraint</th><th>Target rate Tâ±¼</th><th>Window Aâ±¼</th></tr></thead><tbody>\n<tr><td>j0</td><td>10 Mgas/s</td><td>86,400 s</td></tr><tr><td>j1</td><td>14 Mgas/s</td><td>13,485 s</td></tr><tr><td>j2</td><td>20 Mgas/s</td><td>2,105 s</td></tr><tr><td>j3</td><td>29 Mgas/s</td><td>329 s</td></tr><tr><td>j4</td><td>41 Mgas/s</td><td>52 s</td></tr><tr><td>j5</td><td>60 Mgas/s</td><td>9 s</td></tr>\n</tbody></table></div></div></div><h4>Robinhood Chain slow-backlog (J1) target changes</h4><div class="constraint-table-wrap history-table-wrap"><table class="constraint-table history-table"><thead><tr><th>Target rate Tâ</th><th>Starting backlog</th><th>Effective from</th></tr></thead><tbody>\n<tr><td>15 Mgas/s</td><td>1.106 Tgas</td><td><a target="_blank" rel="noopener noreferrer" href="https://robinhoodchain.blockscout.com/tx/0xfea7e34bba61824898ed3084f62d2dceee976c3146cbc49d14faca80eecc8307">10 Jul 19:12:45 UTC Â· block 6,322,119</a></td></tr>\n<tr><td>20 Mgas/s</td><td>2.970 Tgas</td><td><a target="_blank" rel="noopener noreferrer" href="https://robinhoodchain.blockscout.com/tx/0xef9f5aa60cf09ef820ef25cca965d6cb04af82142fe67d01010990d2388b74d3">24 Jul 20:08:38 UTC Â· block 18,424,412</a></td></tr>\n<tr><td>18 Mgas/s</td><td>0</td><td><a target="_blank" rel="noopener noreferrer" href="https://robinhoodchain.blockscout.com/tx/0x40530a5f1355f98c97d2605fceb5d5a03006de49728b20033132b5bf1ab00775">20 Aug 21:21:18 UTC Â· block 41,739,400</a></td></tr>\n<tr><td>30 Mgas/s</td><td>7.492 Tgas</td><td><a target="_blank" rel="noopener noreferrer" href="https://robinhoodchain.blockscout.com/tx/0xae52c9fd8e4e0bf1db53c1058876246342ebd3d387fa328f14de91b3ca1c91fa">1 Sep 16:33:29 UTC Â· block 51,865,079</a></td></tr>\n<tr class="event-current"><td><b>40 Mgas/s</b></td><td>9.989 Tgas</td><td><a target="_blank" rel="noopener noreferrer" href="https://robinhoodchain.blockscout.com/tx/0xf7fb13105d87efee6e474a1510795dc7531ed4489d1304f6c7dd18c81c12276b">3 Sep 17:08:18 UTC Â· block 53,578,754</a></td></tr>\n</tbody></table></div><p class="source-note">The 40 Mgas/s update is applied from its recorded block onward and remains active through 6 September 2026. Nitro code: <a target="_blank" rel="noopener noreferrer" href="https://github.com/OffchainLabs/nitro/blob/v3.11.2/arbos/l2pricing/model.go">L2 pricing model</a>.</p></section><details class="method-disclosure equation-details"><summary><span>For more details: variables and replay equations</span><small>Glossary and four implementation steps</small></summary><div class="method-block"><div class="notation-guide"><h3>Variable definitions</h3><div class="notation-grid"><div class="notation-item"><span class="notation-symbol">t, j</span><p><var>t</var> is the block step; <var>j</var> identifies one constraint and its backlog.</p></div><div class="notation-item"><span class="notation-symbol">Ît</span><p>Seconds elapsed since the previous block.</p></div><div class="notation-item"><span class="notation-symbol">Tâ±¼</span><p>Target L2 gas-used rate for constraint <var>j</var>, in gas/s.</p></div><div class="notation-item"><span class="notation-symbol">Aâ±¼</span><p>Adjustment window for constraint <var>j</var>, in seconds.</p></div><div class="notation-item"><span class="notation-symbol">Bâ±¼â»(t)</span>

1<p>Backlog after draining, before block <var>t</var> is added. The superscript minus marks the pre-block state; it is not a negative value.</p></div><div class="notation-item"><span class="notation-symbol">Bâ±¼(t)</span><p>Backlog after block <var>t</var> is recorded.</p></div><div class="notation-item"><span class="notation-symbol">g<sub>L2</sub>(t)</span><p><var>max(gasUsed â posterGas, 0)</var> for normal transactions. Retryable execution has no poster-gas component at this step.</p></div><div class="notation-item"><span class="notation-symbol">eâ±¼(t)</span><p>Pressure from constraint <var>j</var>: <var>Bâ±¼â» Ã· (Aâ±¼Tâ±¼)</var>.</p></div><div class="notation-item"><span class="notation-symbol">E(t)</span><p>Total pressure: the sum of every <var>eâ±¼(t)</var>.</p></div><div class="notation-item"><span class="notation-symbol">Pâ(E)</span><p>Nitroâs fourth-order Taylor approximation of <var>exp(E)</var>.</p></div><div class="notation-item"><span class="notation-symbol">p<sub>min</sub></span><p>Minimum L2 base fee. Robinhood Chain uses 0.02 Gwei.</p></div><div class="notation-item"><span class="notation-symbol">p(t+1)</span><p>L2 base fee stored for the next block.</p></div></div></div><div class="methodology"><div class="method-grid"><section class="method-row" id="equation-drain"><div class="method-copy"><h3>1 Â· Drain the backlogs</h3><p>For each elapsed second, subtract the target rate from the backlog. A backlog cannot fall below zero.</p><div class="method-equation"><img src="data:image/svg+xml;base64,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" alt="B minus j at t equals max of zero and prior backlog minus target times elapsed time"></div></div><div class="method-figure"><svg viewBox="0 0 300 130" role="img" aria-label="Gas drains from a backlog bucket"><defs><clipPath id="method-drain-clip"><path d="M38 20 C39 55 44 91 58 105 L134 105 C148 91 153 55 154 20 Z"/></clipPath></defs><rect class="bucket-water" x="38" y="55" width="116" height="50" clip-path="url(#method-drain-clip)"/><path class="sketch-ink" d="M38 20 C39 55 44 91 58 105 L134 105 C148 91 153 55 154 20"/><ellipse class="drain-hole" cx="96" cy="105" rx="7" ry="2.8"/><path class="drain-stream fast" d="M96 110 L96 125"/><text class="sketch-label" x="174" y="50">old Bâ±¼</text><text class="sketch-label" x="174" y="76">â Tâ±¼Ît</text><path class="sketch-ink" d="M165 84 L269 84"/><text class="sketch-muted" x="180" y="106">never below 0</text></svg></div></section><section class="method-row" id="equation-pressure"><div class="method-copy"><h3>2 Â· Turn backlog into pressure</h3><p>Divide each backlog by its reference volume <var>A<sub>j</sub>T<sub>j</sub></var> to obtain <var>e<sub>j</sub></var>, then add the terms to obtain <var>E</var>.</p><div class="method-equation"><img src="data:image/svg+xml;base64,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" alt="Each constraint exponent equals drained backlog divided by adjustment window times target; the total exponent is their sum"></div></div><div class="method-figure"><svg viewBox="0 0 300 130" role="img" aria-label="Robinhood Chainâs two pressure terms are added into one total exponent"><rect class="sketch-ink" x="18" y="30" width="78" height="36" rx="4"/><rect class="sketch-ink" x="18" y="78" width="78" height="36" rx="4"/><text class="sketch-label" x="57" y="53" text-anchor="middle">eâ</text><text class="sketch-label" x="57" y="101" text-anchor="middle">eâ</text><path class="sketch-ink calc-arrow" d="M106 48 C145 48 153 61 172 65 M106 96 C145 96 153 82 172 74"/><rect class="sketch-ink" x="180" y="48" width="110" height="48" rx="5"/><text class="sketch-label" x="235" y="77" text-anchor="middle">E = eâ + eâ</text></svg></div></section><section class="method-row" id="equation-taylor4"><div class="method-copy"><h3>3 Â· Approximate exp(E)</h3><p>After summing the pressure terms, Nitro evaluates <code>ApproxExpBasisPoints(<var>E</var>, 4)</code> once.</p><div class="method-equation"><img src="data:image/svg+xml;base64,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" alt="Fourth-order Taylor approximation of the exponential"></div></div><div class="method-figure"><svg viewBox="0 0 300 130" role="img" aria-label="The total exponent is evaluated once with Nitro Taylor four"><text class="sketch-label" x="20" y="70">E = Î£eâ±¼</text><path class="sketch-ink calc-arrow" d="M78 65 L112 65 M103 57 L112 65 L103 73"/><path class="sketch-ink" d="M126 104 C161 103 181 95 199 79 C220 60 230 37 242 15"/><path class="sketch-ink" d="M126 15 L126 104 L267 104"/><circle class="price-bulb" cx="214" cy="62" r="6" fill="var(--accent)"/><text class="sketch-label" x="226" y="54">Pâ(E)</text><text class="sketch-muted" x="144" y="121">one Taylor-4 evaluation</text></svg></div></section><section class="method-row" id="equation-price_grow"><div class="method-copy"><h3>4 Â· Set the price, then add this block</h3><p>Multiply the Taylor factor by <var>p<sub>min</sub></var>, which is 0.02 Gwei on Robinhood Chain. After pricing, add the blockâs L2 gas used to every backlog.</p><div class="method-equation"><img src="data:image/svg+xml;base64,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" alt="Next price equals minimum price times Taylor four, then each backlog grows by L2 gas used"></div></div><div class="method-figure"><svg viewBox="0 0 300 130" role="img" aria-label="The total exponent sets the next base fee; afterward the same L2 gas used is recorded in every backlog"><text class="sketch-label" x="10" y="28">E(t)</text><path class="sketch-ink calc-arrow" d="M42 24 L70 24 M62 17 L70 24 L62 31"/><path class="sketch-ink price-bulb" d="M78 9 Q128 6 132 25 Q128 45 78 42 Z"/><text class="sketch-label" x="94" y="29">Pâ</text><path class="sketch-ink calc-arrow" d="M140 24 L171 24 M163 17 L171 24 L163 31"/><text class="sketch-label" x="181" y="22">p(t+1)</text><text class="sketch-muted" x="181" y="38">next L2 base fee</text><path class="sketch-ink" d="M8 55 L292 55"/><text class="sketch-muted" x="11" y="71">after pricing</text><text class="sketch-label" x="10" y="96">g<tspan baseline-shift="sub" font-size="9">L2</tspan><tspan baseline-shift="baseline">(t)</tspan></text><path class="sketch-ink calc-arrow" d="M85 91 L122 91 M114 84 L122 91 L114 98"/><path class="sketch-ink" d="M128 91 C151 91 158 80 174 77 M128 91 C151 91 158 103 174 106"/><path class="sketch-ink" d="M169 71 L175 77 L167 80 M169 100 L175 106 L167 109"/><path class="sketch-ink" d="M182 66 C183 79 185 87 190 91 L222 91 C227 87 229 79 230 66"/><path class="sketch-ink" d="M182 95 C183 108 185 116 190 120 L222 120 C227 116 229 108 230 95"/><text class="sketch-label" x="239" y="79">Bâ</text><text class="sketch-label" x="239" y="108">Bâ</text></svg></div></section></div></div></div></details></section>\n\n<div class="sectionhead" id="replay-validation"><h2>How closely does the pricing replay match the observed price?</h2><p>The replay uses Robinhood Chainâs full onchain parameter history from genesis, including the original six-constraint startup configuration. The three figures cover 10 Julyâ6 September, matching the current J0/J1 structure introduced on 10 July. Dashed markers show every later J1 target-rate change.</p></div>\n<div class="robinhood-chart-grid"><div class="panel"><div class="figurehead"><h2>What happened to Robinhood Chainâs backlogs?</h2><p>J0 has a 15-second adjustment window; J1 has a one-day adjustment window. Both backlogs still drain at their own target rates, and both series begin with Robinhood Chainâs current two-constraint structure on 10 July.</p></div><div id="backlogRh" class="plot"></div><div class="figure-conclusion">J0 usually clears between bursts. J1 begins rising persistently in late August because L2 gas use remains above its target rate, carrying excess work from one block to the next.</div></div>\n<div class="panel"><div class="figurehead"><h2>How much pressure did each constraint contribute?</h2><p>The chart plots <var>P<sub>4</sub>(e<sub>j</sub>)</var> for J0 and J1 from 10 July onward. Nitro sums the underlying <var>e<sub>j</sub></var> terms before pricing.</p></div><div id="multiplierRh" class="plot compact-plot"></div><div class="figure-conclusion">Short bursts briefly lift J0. J1 drives the sustained late-August increase after demand exceeds its target rate long enough for backlog to accumulate.</div></div>\n<div class="panel"><div class="figurehead"><h2>How closely does the replay track the observed price?</h2><p>The dark line is the observed block-header price. Green is the replay using only Robinhood Chainâs own parameter history.</p></div><div id="priceRh" class="plot"></div><div class="figure-conclusion">The replay nearly overlaps the observed L2 base fee, which validates the equation order, parameter changes, and integer Taylor approximation used in this report.</div><div class="caption">Gas-weighted replay error over the focused 17 Augustâ6 September window: +0.0208%. The replay calculation begins at genesis; the displayed slider range starts on 10 July. Click a legend item to hide it; double-click to show it alone. Scrolling the page does not zoom the charts.</div></div></div>\n\n<section class="j1-fill-explainer" aria-labelledby="j1-fill-title"><div class="j1-fill-copy"><span class="mechanism-kicker">Target rate vs adjustment window</span><h2 id="j1-fill-title">Why did the slow backlog (J1) keep filling?</h2><p><b>The target rate controls whether the backlog grows.</b> When sustained L2 gas use stays above Tâ, the excess is carried into J1 from block to block. When gas use falls below Tâ, J1 drains.</p><p><b>The one-day adjustment window controls how backlog becomes price pressure.</b> Aâ = 1 day defines the reference volume Tâ Ã Aâ in the denominator of eâ. It does not itself slow the drain.</p></div><figure class="j1-fill-figure"><svg class="animated-mechanism" viewBox="0 0 760 330" role="img" aria-labelledby="j1-fill-svg-title j1-fill-svg-desc"><title id="j1-fill-svg-title">How sustained L2 gas use fills the J1 backlog</title><desc id="j1-fill-svg-desc">Blocks arrive from left to right. L2 gas use above the J1 target rate accumulates in the J1 backlog; gas use below the target lets it drain.</desc><defs><pattern id="excess-hatch" width="8" height="8" patternUnits="userSpaceOnUse" patternTransform="rotate(45)"><line x1="0" y1="0" x2="0" y2="8" stroke="var(--j1-color)" stroke-width="3" opacity=".25"/></pattern>

1<marker id="j1-arrow" viewBox="0 0 10 10" refX="8" refY="5" markerWidth="6" markerHeight="6" orient="auto-start-reverse"><path d="M 0 0 L 10 5 L 0 10 z" fill="var(--j1-color)"/></marker><clipPath id="j1-progress-clip"><rect class="j1-progress-rect" x="70" y="30" width="0" height="265"/></clipPath></defs><g class="j1-axis"><path d="M70 145H700M70 145V36"/><path d="M70 292H700M70 292V185"/></g><text class="mechanism-label" x="70" y="23">BLOCK-BY-BLOCK L2 GAS USE</text><path class="target-line" d="M70 112H700"/><text class="target-label" x="695" y="103" text-anchor="end">J1 target rate Tâ</text><path class="excess-area" clip-path="url(#j1-progress-clip)" d="M210 112 L255 82 L320 66 L385 78 L450 58 L515 74 L580 92 L625 112 Z"><animate attributeName="d" dur="10s" repeatCount="indefinite" keyTimes="0;.28;.5;.72;1" values="M210 112 L255 82 L320 66 L385 78 L450 58 L515 74 L580 92 L625 112 Z;M210 112 L255 112 L320 112 L385 112 L450 112 L515 112 L580 112 L625 112 Z;M210 112 L255 112 L320 112 L385 112 L450 112 L515 112 L580 112 L625 112 Z;M210 112 L255 96 L320 82 L385 86 L450 72 L515 84 L580 98 L625 112 Z;M210 112 L255 82 L320 66 L385 78 L450 58 L515 74 L580 92 L625 112 Z"/></path><path class="demand-line" clip-path="url(#j1-progress-clip)" d="M70 128 L140 126 L210 112 L255 82 L320 66 L385 78 L450 58 L515 74 L580 92 L625 118 L700 132"/><circle class="block-cursor" cx="70" cy="128" r="6"/><g class="animation-readout"><rect class="animation-status-bg" x="78" y="39" width="230" height="24" rx="3"/><text class="animation-status" x="90" y="55">BLOCK 01 Â· BELOW TARGET</text></g><path class="mechanism-arrow" d="M388 126V177" marker-end="url(#j1-arrow)"/><text class="mechanism-note" x="405" y="162">excess carried forward</text><text class="mechanism-label" x="70" y="174">SLOW BACKLOG (J1)</text><path class="backlog-area" clip-path="url(#j1-progress-clip)" d="M70 292 L70 280 L210 280 L255 270 L320 246 L385 226 L450 204 L515 190 L580 184 L625 186 L700 220 L700 292 Z"/><path class="backlog-line" clip-path="url(#j1-progress-clip)" d="M70 280 L210 280 L255 270 L320 246 L385 226 L450 204 L515 190 L580 184 L625 186 L700 220"/><text class="backlog-label" x="500" y="213">Backlog rises, then drains</text><g class="equation-badge"><rect x="82" y="304" width="355" height="22" rx="3"/><text x="95" y="319">eâ = Bâ Ã· (Tâ Ã Aâ) Â· Aâ = 1 day</text></g><text class="concept-note" x="700" y="320" text-anchor="end">Conceptual mechanism Â· not to scale</text></svg><figcaption>Watch each block arrive: gas use above the target adds excess work to J1; gas use below the target drains it. The one-day window scales the remaining backlog into fee pressure.</figcaption></figure></section>\n\n<section class="report-conclusion" id="report-conclusion"><h2>What does this mean for Robinhood Chain?</h2><p><b>Transaction volume rose modestly, while L2 gas used rose much faster.</b> The comparison weeks show <b>7.5%</b> more transactions and <b>63.0%</b> more L2 gas used. Much of that gas came from a small set of trading and execution contracts.</p><p><b>Fees kept climbing because L2 gas use stayed above the slow one-day backlogâs target rate (J1).</b> The excess carried into later blocks and the backlog grew. The one-day adjustment window did not cause the buildup. It set the reference volume used to turn the remaining backlog into price pressure. Nitro then used that pressure to set a much higher shared base fee.</p><p>Operators need to watch two settings. The target rate controls how much sustained L2 gas use the chain can absorb before the backlog grows. The adjustment window controls how strongly that backlog affects price.</p></section>\n<section class="next-research" id="next-research"><h2>What should Robinhood Chain test next?</h2><p>The replay can test parameter changes before they go live. The next step is to compare capacity, fee paths, and recovery times under different workloads.</p><div class="next-research-grid"><article><h3>Simulate capacity choices</h3><p>Replay alternative target rates and adjustment windows against the same demand stream, then compare backlog growth, fee paths, and recovery time.</p></article><article><h3>Stress different demand mixes</h3><p>Model routed trading, account abstraction, oracle-heavy applications, and broad long-tail activity separately to see which workloads create sustained pressure.</p></article><article><h3>Build early-warning indicators</h3><p>Track L2 gas use versus target, backlog runway, and projected fee multipliers so operators can see pressure building before users experience the full price response.</p></article></div></section>\n\n<div class="sectionhead" id="evidence-sources"><h2>Links and further reading</h2><p>Official documentation, implementation references, onchain records, and related research.</p></div>\n<div class="reference-grid">\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://docs.robinhood.com/chain/"><span>Chain architecture</span><b>Robinhood Chain documentation</b><small>Arbitrum Dedicated Blockchain, Ethereum L2, ETH gas token.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://docs.robinhood.com/chain/run-a-full-node/"><span>

1Robinhood Chain Nitro node</span><b>Official full-node guide</b><small>Runs offchainlabs/nitro-node v3.11.2 with Robinhood Chain configuration and genesis.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://robinhoodchain.blockscout.com/tx/0xf7fb13105d87efee6e474a1510795dc7531ed4489d1304f6c7dd18c81c12276b"><span>Onchain parameters</span><b>ArbOwner constraint events</b><small>Public transaction evidence for the current J1 target; earlier changes are linked in the table.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://github.com/OffchainLabs/nitro/blob/v3.11.2/arbos/l2pricing/model.go"><span>Implementation</span><b>Nitro L2 pricing model</b><small>Backlog drain, normalized exponent, fourth-order approximation, and next price.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://github.com/OffchainLabs/nitro-precompile-interfaces/blob/main/ArbOwner.sol"><span>Owner interface</span><b>Gas-pricing constraints API</b><small>Target, adjustment window, and starting backlog semantics.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://research.arbitrum.io/t/multi-constraint-pricing/9782"><span>Mechanism design</span><b>Multi-constraint pricing</b><small>Arbitrumâs derivation of multiple backlogs and the constraint ladder.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://docs.arbitrum.

1io/nitro-whitepaper.pdf"><span>Research paper</span><b>Arbitrum Nitro whitepaper</b><small>Section 3.3.1 derives Nitroâs backlog mechanism; the implementation studied here is multi-constraint pricing.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://docs.bitquery.io/docs/blockchain/robinhood/pons-api/"><span>Contract activity</span><b>Pons launchpad API</b><small>Documents Robinhood Chain <code>launchAndBuy</code> calls used in the contract attribution.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://github.com/okxlabs/Web3-DEX-Router-EVM-V1/blob/main/contracts/8/DexRouter.sol"><span>Contract source</span><b>OKX DEX router</b><small>Open-source router implementation for the observed dagSwap methods.</small></a>\n<a target="_blank" rel="noopener noreferrer" class="reference-card" href="https://developers.uniswap.org/docs/protocols/v4/deployments"><span>Contract reference</span><b>Uniswap deployments</b><small>Official deployment addresses, including Robinhood Chainâs Universal Router.</small></a>\n</div>\n</section>\n<footer id="arbdata-footer" class="arbdata-footer" aria-label="Entropy Advisors legal links"><strong>Powered by</strong><img class="footer-logo" src="data:image/svg+xml;base64,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" alt="Entropy Advisors"><span aria-hidden="true">|</span><button type="button" data-legal-title="Disclaimer &amp; Privacy Policy" data-legal-template="legal-disclaimer-template"><strong>Disclaimer</strong></button><span aria-hidden="true">|</span><button type="button" data-legal-title="Terms of Service" data-legal-template="legal-terms-template"><strong>Terms</strong></button></footer>\n<template id="legal-disclaimer-template"><div class="legal-copy"><h2>Disclaimer</h2> <section><ul><li>The information provided on this dashboard is for educational and informational purposes only and does not constitute financial, legal, or tax advice. Nothing on this dashboard should be interpreted as an endorsement, recommendation, or advice to engage in any specific transaction, strategy, or investment. The data is presented &quot;as is&quot; without any warranties of accuracy or completeness. Users should consult with professional advisors for specific guidance before making any financial, legal, or tax-related decisions. Use of this dashboard is entirely at your own risk.</li> <li>The pricing data used in the dashboard is based on an hourly average. Please note that\n            minor discrepancies may occur between these values and real-time or actual data.</li> <li>Actual Interest Accrual may have a slight margin of error due to timing.</li> <li>Interest and APY calculations capture only intrinsic APY: yield generated from protocol\n            activity such as trading fees or interest payments. Extrinsic APY from incentives will\n            be measured separately using a backfilling methodology. In other words, APY calculations\n            exclude any possible protocol incentives while positions are active.</li> <li>A portion of the stablecoins reserved for TM might from time-to-time be held on\n            centralised exchanges and/or untrackable wallets as they have been swapped from native\n            tokens. These are not tracked by the dashboard.</li></ul></section> <h2>Privacy Policy</h2> <section><h3>Information We Collect</h3> <p>We collect information about how you use this dashboard to help us improve the user\n          experience. This includes pages visited, time spent on pages, interactions with charts and\n          features, and general navigation patterns. We do not require user registration or collect\n          any personal information such as names, email addresses, or wallet addresses.</p></section> <section><h3>Cookies &amp; Tracking</h3> <p>This dashboard uses Google Analytics to collect anonymous usage data. Google Analytics\n          uses cookies to track user interactions. These cookies collect information such as your IP\n          address (anonymized), browser type, device type, pages visited, and time spent on each\n          page. This data helps us understand how visitors use the dashboard so we can improve its\n          functionality and content.</p></section> <section><h3>How We Use Your Data</h3> <p>The data we collect is used to: analyze traffic patterns and user behavior, identify\n          popular features and content, improve dashboard performance and user experience, and\n          generate aggregate statistics about usage. We do not sell, trade, or otherwise transfer\n          your information to third parties for marketing purposes.</p></section> <section><h3>Third-Party Services</h3> <p>This dashboard uses Google Analytics, a web analytics service provided by Google, Inc.\n          Google Analytics uses cookies to help analyze how users interact with the site. The\n          information generated by the cookie about your use of the website will be transmitted to\n          and stored by Google on servers in the United States. For more information on how Google\n          uses data, please visit\n          <a href="https://policies.google.com/privacy" target="_blank" rel="noopener noreferrer">Google&#x27;s Privacy Policy</a>.</p></section>  <section><h3>Local Storage</h3> <p>This dashboard uses your browser&#x27;s local storage to save user preferences such as theme\n          settings (light/dark mode). This data is stored locally on your device and is not\n          transmitted to any server.</p></section> <section><h3>Your Choices</h3> <p>You can opt out of Google Analytics tracking by installing the\n          <a href="https://tools.google.com/dlpage/gaoptout" target="_blank" rel="noopener noreferrer">Google Analytics Opt-out Browser Add-on</a>. You can also manage or delete cookies through your browser settings. Please note that\n          disabling cookies may affect some functionality of the dashboard.</p></section> <section><h3>Contact</h3> <p>If you have any questions about this privacy policy or how we handle your data, please\n          reach out to us through our official social media channels.</p></section></div></template><template id="legal-terms-template"><div class="legal-copy"><h2>Terms of Service</h2> <p>Last Updated: August 10, 2026</p> <section><h3>Agreement to Our Terms</h3> <p>We are Entropy Advisors Inc. (&quot;Company,&quot; &quot;we,&quot; &quot;us,&quot; &quot;our&quot;). We operate arbdata.com and the\n          dashboards, data, analytics, and related products and services that refer or link to these\n          terms (the &quot;Terms&quot;) (collectively, the &quot;Services&quot;).</p> <p>arbdata.com is our analytics platform covering Arbitrum DAO treasury, governance, and\n          ecosystem activity.</p> <p>You can contact us by email at\n          <a href="mailto:contact@entro

1pyadvisors.com" target="_blank" rel="noopener noreferrer">[email protected]</a>\n          or by mail to 443 W 5th Ave, Columbus, OH 43201.</p> <p>These Terms constitute a legally binding agreement made between you, whether personally or\n          on behalf of an entity (&quot;you&quot;), and Entropy Advisors Inc., concerning your access to and\n          use of the Services. IF YOU DO NOT AGREE WITH ALL OF THESE TERMS, THEN YOU ARE EXPRESSLY\n          PROHIBITED FROM USING THE SERVICES AND YOU MUST DISCONTINUE USE IMMEDIATELY.</p> <p>We reserve the right to make changes or modifications to these Terms at any time. We will\n          alert you about changes by updating the &quot;Last Updated&quot; date. Your continued use of the\n          Services after any change constitutes acceptance of the revised Terms.</p></section> <section><h3>Table of Contents</h3> <ol><li><a href="#our-services" target="_blank" rel="noopener noreferrer">Our Services</a></li> <li><a href="#informational-purpose" target="_blank" rel="noopener noreferrer">Informational Purpose and No Advice</a></li> <li><a href="#data-sources" target="_blank" rel="noopener noreferrer">Data, Sources, and Accuracy</a></li> <li><a href="#intellectual-property" target="_blank" rel="noopener noreferrer">Intellectual Property Rights</a></li> <li><a href="#your-use" target="_blank" rel="noopener noreferrer">Your Use of the Services</a></li> <li><a href="#prohibited-activities" target="_blank" rel="noopener noreferrer">Prohibited Activities</a></li> <li><a href="#enforcement" target="_blank" rel="noopener noreferrer">Enforcement of Data-Use Restrictions</a></li> <li><a href="#api-access" target="_blank" rel="noopener noreferrer">API Access</a></li> <li><a href="#user-representations" target="_blank" rel="noopener noreferrer">User Representations</a></li> <li><a href="#third-party" target="_blank" rel="noopener noreferrer">Third-Party Links and Data Sources</a></li> <li><a href="#services-management" target="_blank" rel="noopener noreferrer">Services Management</a></li> <li><a href="#term-termination" target="_blank" rel="noopener noreferrer">Term and Termination</a></li> <li><a href="#modifications" target="_blank" rel="noopener noreferrer">Modifications and Interruptions</a></li> <li><a href="#governing-law" target="_blank" rel="noopener noreferrer">Governing Law</a></li> <li><a href="#dispute-resolution" target="_blank" rel="noopener noreferrer">Dispute Resolution</a></li> <li><a href="#corrections" target="_blank" rel="noopener noreferrer">Corrections</a></li> <li><a href="#disclaimer" target="_blank" rel="noopener noreferrer">Disclaimer</a></li> <li><a href="#limitations" target="_blank" rel="noopener noreferrer">Limitations of Liability</a></li> <li><a href="#indemnification" target="_blank" rel="noopener noreferrer">Indemnification</a></li> <li><a href="#user-data" target="_blank" rel="noopener noreferrer">User Data</a></li> <li><a href="#electronic-communications" target="_blank" rel="noopener noreferrer">Electronic Communications, Transactions, and Signatures</a></li> <li><a href="#miscellaneous" target="_blank" rel="noopener noreferrer">Miscellaneous</a></li> <li><a href="#contact-us" target="_blank" rel="noopener noreferrer">Contact Us</a></li></ol></section> <section id="our-services"><h3>1. Our Services</h3> <p>arbdata.com is an analytics platform that aggregates and presents data on the Arbitrum\n          ecosystem, including Arbitrum DAO treasury holdings, governance activity, incentive\n          programs, and related on-chain metrics. The Services are informational in nature.</p> <p>The information provided when using the Services is not intended for distribution to or\n          use by any person or entity in any jurisdiction or country where such distribution or use\n          would be contrary to law or regulation. Those who access the Services from other locations\n          do so on their own initiative and are solely responsible for compliance with local laws.</p></section> <section id="informational-purpose"><h3>2. Informational Purpose and No Advice</h3> <p>All data, dashboards, metrics, charts, and other materials made available through the\n          Services (the &quot;Content&quot;) are provided for general informational purposes only. The Content\n          does not constitute financial, investment, trading, legal, accounting, tax, or other\n          professional advice, and n

1othing in the Services is a recommendation to buy, sell, or hold\n          any digital asset, token, or security or to enter into any transaction or strategy.</p> <p>Digital assets are volatile and carry significant risk, including the risk of total loss.\n          You are solely responsible for evaluating the merits and risks of any decision you make.\n          You should conduct your own research and consult qualified professional advisors before\n          acting on any information obtained through the Services. We accept no liability for any\n          loss arising from reliance on the Content.</p> <p>We, our affiliates, and our personnel may hold positions in, advise on, or have other\n          interests in tokens, protocols, or entities referenced in the Content. Any such interest\n          is disclosed for transparency and is not a recommendation.</p></section> <section id="data-sources"><h3>3. Data, Sources, and Accuracy</h3> <p>The Content is compiled from on-chain data, public sources, third-party providers, and our\n          own methodologies. Blockchain data, indexing pipelines, and third-party feeds are subject\n          to delays, reorganizations, outages, and errors outside our control.</p> <p>We do not warrant that the Content is accurate, complete, current, or error-free. Metrics\n          may be estimated, derived, adjusted, or restated, and methodologies may change without\n          notice. The Content is provided on an &quot;AS IS&quot; and &quot;AS AVAILABLE&quot; basis, and you rely on it\n          at your own risk.</p> <p>We are not responsible for the accuracy or availability of any data originating from\n          third-party sources or from the underlying blockchains, and we have no obligation to\n          update the Content.</p></section> <section id="intellectual-property"><h3>4. Intellectual Property Rights</h3> <h4>Our intellectual property</h4> <p>We are the owner or licensee of the intellectual property rights in the Services,\n          including the platform, dashboards, data compilations, source code, databases,\n          functionality, software, designs, text, and graphics (collectively, and together with the\n          Content, the &quot;Materials&quot;). &quot;Marks&quot; means our trademarks, service marks, and logos. All\n          other trademarks, service marks, logos, and trade names that appear on the Services,\n          including those of Arbitrum and other protocols, chains, or partners, are the property of\n          their respective owners.</p> <p>Third-party marks. Names, logos, and marks of third parties displayed on the Services are\n          used for identification and informational purposes only. Their appearance does not\n          indicate any affiliation with, sponsorship by, or endorsement by those parties unless we\n          expressly state otherwise.</p> <p>Underlying public blockchain data is not owned by us. Our rights extend to the selection,\n          arrangement, presentation, compilation, and derived analytics that make up the Services.</p> <p>The Materials and Marks are provided &quot;AS IS&quot; for your personal, non-commercial use or\n          internal business purpose only.</p> <h4>Your license</h4> <p>We grant you a non-exclusive, non-transferable, revocable license to access the Services\n          and to view and download portions of the Content to which you have properly gained access,\n          solely for personal, non-commercial use or internal business purpose.</p> <p>No part of the Services, Materials, or Marks may be copied, reproduced, aggregated,\n          republished, uploaded, posted, publicly displayed, encoded, translated, transmitted,\n          distributed, sold, licensed, sublicensed, or otherwise exploited for any commercial\n          purpose without our express prior written permission.</p> <p>Nothing in this Section restricts the limited display or quotation of individual figures\n          or charts for non-commercial commentary, research, journalistic, or governance purposes,\n          provided you attribute the source to Entropy Advisors and do not present the Content in a\n          misleading way or imply our endorsement.</p> <p>For licensing or other use requests, contact\n          <a href="mailto:contact@entro

1pyadvisors.com" target="_blank" rel="noopener noreferrer">[email protected]</a>.</p> <h4>Attribution</h4> <p>Where we permit limited sharing of individual charts or figures, you must retain any\n          attribution to arbdata.com or Entropy Advisors, must not present the Content in a\n          misleading way, and must not imply our endorsement.</p> <h4>Your submissions</h4> <p>If you provide us with feedback, comments, suggestions, or ideas about the Services\n          (&quot;Feedback&quot;), you grant us a non-exclusive, perpetual, royalty-free, worldwide license to\n          use, modify, and incorporate such Feedback into our Services and business operations\n          without any obligation to you. This Section does not apply to confidential information\n          shared with us in the course of a client engagement, which is governed by a separate\n          written agreement.</p></section> <section id="your-use"><h3>5. Your Use of the Services</h3> <p>You may access and use the Services only

1in compliance with these Terms and all applicable\n          laws. Your license is limited, and all rights not expressly granted to you are reserved by\n          us.</p></section> <section id="prohibited-activities"><h3>6. Prohibited Activities</h3> <p>You agree not to:</p> <ul><li>Systematically retrieve, scrape, harvest, index, or extract data or Content from the\n            Services to create or compile a collection, database, dataset, or directory, whether or\n            not for commercial purposes, without our prior written permission.</li> <li>Use any robot, spider, crawler, scraper, or other automated means to access the\n            Services, except as expressly permitted by our robots.txt file or an official API made\n            available by us.</li> <li>Republish, redistribute, resell, sublicense, or make the Content available to any third\n            party, including through any product, feed, dashboard, or service, without our prior\n            written permission.</li> <li>Use the Content or the Services to build, train, or improve any competing product,\n            dataset, model, or service, or otherwise use the Services to compete with us.</li> <li>Remove, obscure, or alter any copyright, trademark, or other proprietary rights notice\n            from any Content.</li> <li>Circumvent, disable, or interfere with security-related or access-control features of\n            the Services, including features that restrict the use or copying of Content.</li> <li>Interfere with, disrupt, or create an undue burden on the Services or the networks and\n            infrastructure connected to the Services.</li> <li>Upload or transmit viruses, Trojan horses, or other material that interferes with the\n            operation of the Services.</li> <li>Copy or adapt the Services&#x27; software, including HTML, CSS, JavaScript, or other code.</li> <li>Decipher, decompile, disassemble, or reverse engineer any software comprising the\n            Services, except as expressly permitted by applicable law.</li> <li>Trick, defraud, or mislead us, or submit false or misleading information through our\n            forms or contact channels.</li> <li>Use information obtained from the Services to harass, abuse, or harm another person, or\n            to harass, intimidate, or threaten our personnel.</li> <li>Use the Services in any manner inconsistent with any applicable law or regulation.</li></ul></section> <section id="enforcement"><h3>7. Enforcement of Data-Use Restrictions</h3> <p>Unauthorized retrieval, use, or distribution of the Content, or unauthorized access to any\n          API, causes harm that may not be adequately remedied by monetary damages. In addition to\n          any other remedy available to us, a breach of Section 4 or Section 6 entitles us to seek\n          immediate termination of your access and to seek injunctive or other equitable relief\n          without the requirement to post bond, to the extent permitted by applicable law. We may\n          also pursue recovery of any profits or gains derived from the unauthorized use.</p></section> <section id="api-access"><h3>8. API Access</h3> <p>If we make an application programming interface (&quot;API&quot;) available, your use of the API is\n          subject to these Terms and to any additional API documentation, rate limits, or usage\n          policies we publish. You may access the Services programmatically only through an official\n          API we provide, and you must not access any non-public or undocumented endpoint. We may\n          modify, rate-limit, suspend, or discontinue any API at any time without notice.</p></section> <section id="user-representations"><h3>9. User Representations</h3> <p>By using the Services, you represent and warrant that:</p> <ul><li>You have the legal capacity and agree to comply with these Terms.</li> <li>You are not a minor in the jurisdiction in which you reside, and you are at least 18\n            years of age.</li> <li>You will not access the Services through automated or non-human means except as\n            expressly permitted.</li> <li>You will not use the Services for any illegal or unauthorized purpose.</li> <li>Your use will not violate any applicable law or regulation.</li></ul></section> <section id="third-party"><h3>10. Third-Party Links and Data Sources</h3> <p>The Services may link to or incorporate data, feeds, or content from third-party websites,\n          protocols, or providers. We do not control, end

1orse, or assume responsibility for any\n          third-party site, source, or content, including its accuracy or privacy practices. Your\n          use of any third-party site or source is at your own risk and may be governed by that\n          third party&#x27;s own terms.</p></section> <section id="services-management"><h3>11. Services Management</h3> <p>We reserve the right, but not the obligation, to:</p> <ul><li>Monitor the Services for violations of these Terms.</li> <li>Take appropriate legal action against anyone who violates these Terms.</li> <li>In our sole discretion, refuse, restrict, or limit access to the Services to any user.</li> <li>Otherwise manage the Services to protect our rights and property and to support the\n            proper functioning of the Services.</li></ul></section> <section id="term-termination"><h3>12. Term and Termination</h3> <p>These Terms remain in full force and effect while you use the Services. WE RESERVE THE\n          RIGHT TO DENY ACCESS TO AND USE OF THE SERVICES TO ANY PERSON FOR ANY REASON OR FOR NO\n          REASON, INCLUDING FOR BREACH OF THESE TERMS. Provisions that by their nature should\n          survive termination will survive, including intellectual property rights, data-use\n          restrictions, disclaimers, limitations of liability, and governing law.</p></section> <section id="modifications"><h3>13. Modifications and Interruptions</h3> <p>We reserve the right to change, modify, suspend, or remove the Content or the Services at\n          any time without notice. We will not be liable for any modification, suspension, or\n          discontinuance of the Services.</p> <p>We cannot guarantee the Services will be available at all times. We may experience\n          hardware, software, or other problems, or need to perform maintenance, resulting in\n          interruptions, delays, or errors. You agree that we have no liability for any loss,\n          damage, or inconvenience caused by your inability to access or use the Services.</p></section> <section id="governing-law"><h3>14. Governing Law</h3> <p>These Terms are governed by and construed in accordance with the laws of the State of\n          Delaware, without regard to its conflict of laws principles. You and Entropy Advisors Inc.\n          irrevocably consent that the state and federal courts located in Delaware have exclusive\n          jurisdiction to resolve any dispute arising in connection with these Terms, subject to the\n          dispute resolution provisions below.</p></section> <section id="dispute-resolution"><h3>15. Dispute Resolution</h3> <h4>Informal Negotiations</h4> <p>Before either party may initiate arbitration or litigation, the parties agree to first\n          attempt to resolve any dispute, controversy, or claim arising out of or relating to these\n          Terms (&quot;Dispute&quot;) informally for at least thirty (30) days. Informal negotiations begin\n          upon written notice from one party to the other.</p> <h4>Binding Arbitration</h4> <p>If the parties are unable to resolve a Dispute through informal negotiations, the Dispute\n          shall be finally resolved by binding arbitration administered by the American Arbitration\n          Association (AAA) under its Commercial Arbitration Rules. The arbitration shall be\n          conducted by a single arbitrator. The seat of arbitration shall be Wilmington, Delaware.\n          The language of the arbitration shall be English. Judgment on the arbitrator&#x27;s award may\n          be entered in any court of competent jurisdiction.</p> <h4>Class Action Waiver</h4> <p>Any arbitration or proceeding shall be limited to the Dispute between the parties\n          individually. To the full extent permitted by law:</p> <ul><li>no arbitration shall be joined with any other proceeding;</li> <li>there is no right or authority for any Dispute to be arbitrated on a class-action basis\n            or to utilize class action procedures; and</li> <li>there is no right or authority for any Dispute to be brought in a purported\n            representative capacity on behalf of the general public or any other persons.</li></ul> <h4>Exceptions</h4> <p>The following Disputes are not subject to the arbitration provision above:</p> <ul><li>Disputes seeking to enforce or protect intellectual property rights of either party;</li> <li>Disputes related to allegations of theft, piracy, invasion of privacy, or unauthorized\n            use of data or the Services; and</li> <li>Any claim for injunctive or other equitable relief.</li></ul></section> <section id="corrections"><h3>16. Corrections</h3> <p>We reserve the right to correct any errors, inaccuracies, or omissions and to change or\n          update the Content on the Services at any time, without prior notice.</p></section> <section id="disclaimer"><h3>17. Disclaimer</h3> <p>THE SERVICES AND ALL CONTENT ARE PROVIDED ON AN &quot;AS IS&quot; AND &quot;AS AVAILABLE&quot; BASIS. YOU\n          AGREE THAT YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK. TO THE FULLEST EXTENT PERMITTED\n          BY LAW, WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF\n          MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, AN

1D ANY WARRANTIES\n          REGARDING THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE CONTENT.</p> <p>We assume no liability or responsibility for:</p> <ul><li>errors, mistakes, or inaccuracies of Content;</li> <li>personal injury or property damage arising from your access to or use of the Services;</li> <li>unauthorized access to or use of our servers or any information stored on them;</li> <li>interruption or cessation of transmission to or from the Services;</li> <li>bugs, viruses, or the like transmitted through the Services by any third party; and</li> <li>errors or omissions in any Content or any loss or damage incurred from use of the\n            Content.</li></ul></section> <section id="limitations"><h3>18. Limitations of Liability</h3> <p>IN NO EVENT WILL WE OR OUR DIRECTORS, OFFICERS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU OR\n          ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL, OR\n          PUNITIVE DAMAGES, INCLUDING LOST PROFITS, LOST DATA, OR LOSS OF GOODWILL, ARISING FROM\n          YOUR USE OF THE SERVICES, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.</p> <p>Our liability to you for any cause, and regardless of the form of the action, will at all\n          times be limited to the lesser of the amount paid, if any, by you to us in the six (6)\n          months prior to any cause of action arising, or one hundred U.S. dollars ($100.00). Some\n          jurisdictions do not allow certain limitations of liability, so some of the above may not\n          apply to you.</p></section> <section id="indemnification"><h3>19. Indemnification</h3> <p>You agree to defend, indemnify, and hold us harmless, including our directors, officers,\n          employees, and agents, from any loss, damage, liability, claim, or demand, including\n          reasonable attorneys&#x27; fees, made by any third party due to or arising out of:</p> <ul><li>your use of the Services;</li> <li>your breach of these Terms;</li> <li>your breach of your representations and warranties;</li> <li>your violation of the rights of a third party, including intellectual property rights;\n            and</li> <li>any harmful act toward any other user or third party.</li></ul></section> <section id="user-data"><h3>20. User Data</h3> <p>We may retain certain data that you transmit to the Services, as well as data relating to\n          your use of the Services, in accordance with our\n          <a href="https://entropyadvisors.com/privacy" target="_blank" rel="noopener noreferrer">Privacy Policy</a>. You are responsible for any data you transmit or that relates to activity you undertake\n          using the Services, and you agree that we have no liability for any loss or corruption of\n          such data.</p></section> <section id="electronic-communications"><h3>21. Electronic Communications, Transactions, and Signatures</h3> <p>Visiting the Services, sending us emails, and completing online forms constitute\n          electronic communications. YOU CONSENT TO RECEIVE ELECTRONIC COMMUNICATIONS AND AGREE TO\n          THE USE OF ELECTRONIC SIGNATURES, CONTRACTS, ORDERS, AND OTHER RECORDS. You waive any\n          rights or requirements under any law that requires an original signature or non-electronic\n          records.<

1/p></section> <section id="miscellaneous"><h3>22. Miscellaneous</h3> <p>These Terms and any policies or operating rules we post constitute the entire agreement\n          between you and us. Our failure to exercise or enforce any right or provision shall not\n          operate as a waiver. We may assign any or all of our rights and obligations to others at\n          any time. If any provision is determined to be unlawful, void, or unenforceable, that\n          provision is severable and does not affect the validity of the remaining provisions. There\n          is no joint venture, partnership, employment, or agency relationship created between you\n          and us as a result of these Terms.</p></section> <section id="contact-us"><h3>23. Contact Us</h3> <p>To resolve a complaint regarding the Services or to receive further information, contact\n          us at:</p> <p>Entropy Advisors Inc.<br>\n          443 W 5th Ave, Columbus, OH 43201<br> <a href="mailto:[email protected]" target="_blank" rel="noopener noreferrer">[email protected]</a></p></section></div></template>\n';M.s(["RobinhoodChainFeeAnalysis",0,function({post:g}){let a=(0,t.useRef)(null),I=(0,t.useRef)(null);return(0,t.useEffect)(()=>{let e,t=a.current,g=I.current;if(!t||!g)return;let N=!1;return Promise.all([M.A(31542),M.A(17277),M.A(88780)]).then(([M,i,g])=>{N||(e=i.mountReport(t,M,JSON.parse(g.REPORT_SPECS_JSON),g.REPORT_WATERMARKS))}),()=>{N=!0,e?.(),g.innerHTML=i}},[]),(0,e.jsxs)("div",{ref:a,className:"rcfa","data-theme":"dark","aria-label":g.title,children:[(0,e.jsx)("canvas",{id:"flowGrid","aria-hidden":"true"}),(0,e.jsx)("div",{ref:I,className:"rcfa-main",dangerouslySetInnerHTML:{__html:i}})]})}],51688)}]);

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