These past few days, everyone on X has been complaining about the high gas fees on Robinhood Chain—easily a few bucks per transaction. But have you ever wondered why a technically mature L2 is still turning into a 'luxury chain'? L2 gas fees are mainly composed of two parts: L1's DA costs + L2's execution fees. After Ethereum's Fusaka upgrade and the BPO hard fork, DA capacity has significantly increased, leading to a substantial drop in DA costs. So, the issue must lie with L2's execution fees. The pricing power for L2 execution fees is determined by Robinhood—more precisely, jointly decided by Robinhood and Arbitrum. L2 execution fees, as the revenue from RH Chain's sequencer, go straight into Robinhood's pocket, with 10% of the net profit shared with Arbitrum. Now you know why RH Chain's on-chain revenue has been hitting ATH recently, right? And why Arbitrum is using this as a bullish narrative to pump the price, right? I bet you’ve already figured out the real reason behind the high gas fees on Robinhood Chain, smart as you are.