The failure of the Clarity Act bill in the US Senate last September weighed on crypto market sentiment, as uncertainty regarding digital asset regulation persists.
The procedural vote failed to secure the required 60 votes, marking yet another hurdle in the effort to establish a clearer regulatory framework for crypto in the US.
However, this development does not necessarily close the door on opportunities for all altcoins.
Two tokens attracting attention are PONS and Arbitrum (ARB), particularly due to their links to the growth of the Robinhood Chain.
PONS Benefits from Robinhood Chain Activity
PONS is the token associated with Pons, a platform for launching and trading tokens on the Robinhood Chain.
The platform has seen rapid growth in activity since its launch. In early September, Pons generated nearly US$6 million in fees within a 24-hour period, while daily trading volume reached hundreds of millions of dollars.
One factor drawing attention is the token buyback and burn mechanism.
A portion of the platform's revenue is used to repurchase PONS before the tokens are burned, thereby reducing the circulating supply.
Data from DeFiLlama indicates that approximately 80% of the Pons protocol's revenue is allocated to this mechanism.
Simply put, if activity on Pons continues to rise, more fees could be generated, potentially leading to more PONS being repurchased and burned.
However, this mechanism does not guarantee a rise in the PONS price, especially given that tokens launched on the platform can experience extreme price volatility.
ARB Benefits from Robinhood Chain Growth
Meanwhile, Arbitrum (ARB) has a more direct connection to the Robinhood Chain, as the network was built using Arbitrum technology. Robinhood Chain launched on mainnet on July 1, 2026, as an Ethereum Layer 2 network built using the Arbitrum platform.
Under Arbitrum’s licensing program, networks like Robinhood Chain that utilize its technology are required to allocate 10% of the protocol's net revenue to the Arbitrum ecosystem.
Of this amount, 8% goes to the ArbitrumDAO treasury, and 2% goes to the Arbitrum Developer Guild.
The growth of Robinhood Chain has already begun to impact Arbitrum ecosystem revenue.
In July, licensing fees from the program contributed approximately US$360,000, representing 35% of ArbitrumDAO’s revenue for that month.
Network Growth Acts as a Catalyst
PONS and ARB each have distinct narratives.
PONS relies on increased platform usage and token trading activity on Robinhood Chain, whereas ARB benefits from the network's adoption of Arbitrum technology.
This means that, even amidst the uncertainty surrounding the Clarity Act, increased activity within the Robinhood Chain ecosystem has the potential to act as a catalyst for both projects.
However, both remain high-risk assets.
Growth in network activity does not necessarily translate into a rise in token prices, and broader crypto market conditions can still influence investor sentiment.
