---
name: route-fun
description: Full deep dive on ROUTE / route.fun, the DEX aggregator on Robinhood Chain, 10 Sep 2026 - the verified zero-fee product, the 2% token tax that IS the only revenue, the 13.2% locked buyback, and why an aggregator does not take share from Uniswap. Read before any ROUTE, route.fun, rapidssh or RH-aggregator discussion.
sources: [cowork]
aliases: [ROUTE, route, routedotfun, route.fun, rapidssh, rh-aggregator, dex-aggregator-rh]
---

# ROUTE / route.fun, screened 10 Sep 2026 ~07:30 UTC

Token **`0x4A72B9702f991b790788f8AFA9e7112541f4E8f8`**, Robinhood Chain. Pool `0x220e47dde1a5180cb131d4c720abf66d5c36fbdf3af91522f7b1c7f749770d8f` (Uniswap v4, ETH-paired). Site route.fun, docs docs.route.fun, X @routedotfun, dev **@rapidssh (20,389 followers, account created Nov 2020)**.
Companions: [[rh-chain-infrastructure]], [[rh-launchpad-sector]], [[ouro-layer]], [[basestonk-bstonk]].
- [stated] Ben: "It looks very legit... Pentosia is following it, and I tested it... I've read that kind of liquidity routing is the one thing that Robinhood is still missing... What would be the ceiling? Why does it need somebody else if UniSwap is already big?"

## MARKET, 10 Sep 07:30 UTC
- **mcap $7,222,985** · price $0.007222 · **+70.5% 24h, +133% in 6h** · 18 pairs, aggregate liq **$528,409**, aggregate v24 **$2,325,728** · h24 4,508 buys / 4,421 sells.
- **Launched 7 Sep 2026 18:21 UTC. Two and a half days old.** Was ~$3.3M on 9 Sep (per @LeverageWeb3), so it has roughly doubled while Ben was looking at it.

## IT IS A PONS V2 LAUNCH, and the contract is clean
- Token runtime **3,248 bytes, the same Pons V2 template as GG** ([[golden-goose-gg]]). Selector scan: **no `mint`, no `pause`, no `owner`, no `transferOwnership`, no `blacklist`, no `setFee`, no `setMaxWallet`.** `owner()` reverts. Immutable.
- Supply **1,000,000,000**. **Burned at `0x000000000000000000000000000000000000dEaD`: ZERO.** Nothing has been burned.
- **`0x267444d099b10fb5ed7c3cc7b7c767adca574952` holds 81,632,653 = 8.163%**, the Pons V2 V2LaunchLocker, the identical hard lock seen on GG and OPTIMUS. Cannot move.
- **THE TAX IS IN THE HOOK, NOT THE TOKEN.** The v4 pool has `fee = 0` and hook **`0xe5e702641ea86f4ae6cc3cdaed2b886f976be044`** (15,167 bytes). A bytecode scan of the token reports "no tax" and is both right and misleading, exactly the [[basestonk-bstonk]] trap.

## THE PRODUCT IS REAL, TINY, AND CHARGES NOTHING
- **From Route's own API `route.fun/api/v2/activity`: 980 swaps and $2,006,574 of estimated volume, LIFETIME, including early tests.** The chain does $1,890,046,704 of DEX volume in 24 hours, so Route's entire life is **0.1% of one day of chain flow**.
- It is a **meta-aggregator**: it compares routes from **KyberSwap and 0x** and simulates before signing. Executors published at `/api/v2/config`: route `0x22c1Bba36Ba220964D029Eb4B1eF7c6ed167E32E`, kyber `0xd8f7171886F8476ECE2E51CFFE8C4c637815a815`, zerox `0x201a935146E1283F35bB54b8Fe7a4C584265B7E8`.
- **ROUTE FEE IS 0 bps AND CANNOT BE TURNED ON.** Their docs, verbatim: *"The active immutable contracts have no fee-rate setter, administrator or treasury. Adding a fee would require explicit approval, new contracts and a fresh review of the wallet approval. It cannot be switched on in the current contracts."*
- **THEIR OWN BENCHMARK SAYS THEY LOSE TO UNISWAP ON THE DEEP PAIRS.** ETH/USDG: **-1.92, -0.617 and -0.0028 bps** at 0.01, 0.1 and 1 ETH. They WIN on the thin tail: **+59.8 bps PIPEDOG, +74.4 bps PONS, +103 bps CHUMP** at 0.01 ETH. Their own words: *"Route is not consistently the best option yet."* **This honesty is the single most credible thing about the project.**
- Planned, explicitly NOT live: 5% gas sponsorship / 65% token buybacks / 30% development, *"the fee source and launch details are still to be confirmed."*
- Roadmap talk: cross-chain swaps, **trading bots with no platform fee**, privacy swaps. Not built.

## THE ONLY LIVE REVENUE IS A 2% TAX ON ITS OWN TOKEN. Verified, and it is reflexive.
- @rapidssh, 9 Sep 19:31: *"theres 2% fees on all $ROUTE transactions we buy back 65% of all feed gained, 35% is used for infra and development costs."* **CONFIRMED in shape on chain, and note it contradicts nothing: the 0% is on SWAPS THROUGH THE PRODUCT, the 2% is on trading the ROUTE token itself.** Do not conflate them.
- **Hook flow: 83,138,704 ROUTE in, 83,470,442 out, every outbound leg to the v4 PoolManager `0x8366a39cc670b4001a1121b8f6a443a643e40951`.** The hook skims the tax in ROUTE and sells it back into the pool for ETH.
- **Buyback wallet `0x6f6afe1e23a59cdc5901f2626301d6d408d72d9b`.** Inbound: **79,894,064 ROUTE straight from the PoolManager** (genuine open-market buying), 54,586,382 from `0xfdf8bf3a9a9facde8a5304ccaa462c75b04b3042`, 1,096,625 from router `0x8f10b468b06c6fd214b65f87778827f7d113f996`, and **50,760 through Route's OWN executor `0x22c1bba36ba220964d029eb4b1ef7c6ed167e32e`** (they eat their own dogfood).
- **LOCKED: 132,022,241 ROUTE = 13.20% of supply, in `0xd0f7d8c6e9f6d80c297bebe4f7fd1b9c8125c32f`**, worth **$953,465** at $0.007222. **That is the SAME locker contract that holds DELTA's 100,000,000 token lock** ([[delta-liquidity]]), so it is a shared RH-chain locker, not a bespoke Route contract. **Unlock date NOT verified.**
- **TIMING MATTERS AND THE PROMOTERS GLOSS IT: 125,093,103 of the 132M landed on 7 Sep, launch day itself, and only 6,929,139 on 8 Sep. Nothing since.** So the lock is real and the buys are real, but it is overwhelmingly a launch-window event bought at launch-window prices, not a compounding daily flywheel. **Price every buyback: 132M tokens marked at today's $953,465 almost certainly cost a small fraction of that.** Same error class as the PAIR "$400,000 burnt" claim in [[rh-launchpad-sector]].
- **LOCKED IS NOT BURNED.** `0xdead` holds zero ROUTE. Supply is unchanged at 1,000,000,000. Any post calling this a burn is wrong.

## HOLDERS: flat, no whale, no visible dev bag
Rebuilt from 120,555 transfer legs across 9,676 addresses since launch. **3,979 holders with a positive balance.**
| holder | ROUTE | % | what |
|---|---|---|---|
| 0xd0f7d8c6e9f6d80c297bebe4f7fd1b9c8125c32f | 132,022,241 | 13.20% | buyback locker |
| 0x267444d099b10fb5ed7c3cc7b7c767adca574952 | 81,632,653 | 8.16% | Pons V2 hard lock, cannot move |
| 0x8366a39cc670b4001a1121b8f6a443a643e40951 | 44,690,042 | 4.47% | v4 PoolManager (pool liquidity) |
| 0x273f198b3ba183d8ddb4f1cac0b7db506fca3766 | 20,620,515 | 2.06% | largest real wallet |
| 0xf83143c99163778a0021b35912b2fcd1006506c5 | 13,120,916 | 1.31% | wallet |
| 0x7b17d46c8b40d56c72925d1566073ca15d30c56b | 12,275,951 | 1.23% | wallet |
- **Largest movable wallet is 2.06% and the next fifteen are all between 0.7% and 1.3%.** That is an ordinary, healthy distribution for a two-day-old token.

## CHAIN CONTEXT, 10 Sep 2026 — and it reframes the whole pitch
- RH DEX volume **24h $1,890,046,704 · 7d $12,162,711,741 · 30d $29,279,436,615**. Uniswap V3 $891M/24h + V4 $572M/24h + V2 $51M/24h = **about 80% of chain volume**.
- **"Robinhood is missing liquidity routing" is FALSE. Seven aggregators are already tagged on the chain.** 30d revenue: **Definitive $264,375 · KyberSwap Aggregator $328,558 · Rialto $22,561 · Epsilon, DropSwap, House of Joshi, SwapOnHood all ~$0.** Total category **about $615,000 per 30 days, roughly $7.4M a year.**
- **The real routing money on this chain is the FRONT END, not the aggregator. GMGN, a Telegram bot with no token, does $20,368,852 of revenue per 30 days and $190,911,420 of volume in 24h.** Maestro does $708,383/30d. Uniswap V3 itself earns $7,355,369/30d.
- So the aggregator category is a **$7.4M/yr** pond and the bot/front-end category is a **$244M/yr** pond. Route's stated roadmap ("trading bots with no Route platform fee") points at the bigger one.

## THE ANSWER TO "WHY DOES IT NEED SOMEBODY ELSE IF UNISWAP IS BIG"
- **An aggregator does not compete with Uniswap. It routes INTO Uniswap.** Uniswap keeps its LP fee either way and gains order flow. **Nobody gives up market share.** The frame "why would Robinhood give up share" does not apply.
- What an aggregator actually competes with is **the other front ends**: GMGN, Maestro, the Uniswap web app, wallets. That is a fight over eyeballs and default buttons, not over liquidity.
- **The genuine need on THIS chain is the long tail.** 40 DEXes, roughly 2,000 launches a day, liquidity fragmented across Uniswap v2/v3/v4, Ramses, up, Fables and Pons pools. **Route's own benchmark proves exactly this shape: it loses by 0.003 to 1.9 bps on ETH/USDG and wins by 60 to 103 bps on fresh memecoins.** The edge is real and it is confined to the tail.
- **The structural weakness: at 0 bps Route captures none of the value it creates.** Every bp of improvement goes to the user. Today the token is funded only by taxing its own holders' trading.

## X AUDIT
- **@Pentosh1 (949,886 followers) posted exactly one thing: "@rapidssh Well done brotha", 8 Sep 17:42.** That is a two-word reply to the DEV. **It is not a position, not a call, and not a mention of the token.** If Ben's "Pentosia is following it" means this, it is much thinner than it sounds. No @Pentosh1 post has ever contained ROUTE, routedotfun or the contract.
- **@FarmerJoe0x, 7 Sep 23:49: "I build a sizeable position in route because of this dev. It's a founder bet but DEX aggregators are needed on Robinhood Chain immediately"**, citing Jupiter's $6.36M of 30d protocol revenue. He followed up 8 Sep asking @routedotfun "$500k or buybacks or volume?" A real disclosed position from a real account, framed as a founder bet.
- **TIER ONE IS OTHERWISE ZERO**: blknoiz06, theunipcs, CrashiusClay69, pingucharts, 0xkioto, metaversejoji, dontbuytops, cobie and 0xuberM have never mentioned it. Every apparent hit is the English word "route".
- Promoters are mid-tier and Chinese-language heavy: btc2ai (30,201) posting it as "rh上的jup", jollygreenmoney (119,280) "a 8-9 figure coin masquerading as a $5M small cap", LeverageWeb3 (4,175), Stanley_Trader (21,024), KuCoin_Web3 (144,151) listing it as a hot pick. A "vote for the Robinhood Top 100 Leaderboard" farm is running.
- **The best bear post is from a small account and it matches the docs**: @WatchM3Grow, 10 Sep 06:12, *"literally gives less money than Kyberswap and Uniswap lmao, sold it."*
- **CLAIM TO CORRECT: "~$150K bought back and locked (>13% of supply)".** The 13.2% is right. "Bought back" is right in mechanism. But the $150k is a COST figure while the 13.2% is worth $953,465 today, and 95% of it was locked on launch day. Do not repeat the two numbers as if they describe the same event.
- Careless comp doing the rounds: "Comparable with Jupiter for Solana (1 billion mc)". **Jupiter's cap rests on $46.0M/yr of revenue. Route's is zero.**

## COMPS — the aggregator ring
| token | mcap | 30d protocol revenue | annualised | cap / rev |
|---|---|---|---|---|
| **Jupiter JUP** | $765,270,679 | $3,833,193 | $46.0M | **16.6x** |
| 1inch | $126,004,318 | not split out | | |
| CoW Protocol | $75,941,692 | $1,066,552 | $12.8M | **5.9x** |
| KyberSwap KNC | $25,663,241 | $946,424 | $11.4M | **2.3x** |
| **ROUTE** | **$7,222,985** | **$0 from the product** | 2% tax on its own trading only | **n/a** |
| ParaSwap | $1,092,115 | | | the downside comp: an aggregator token that lost the race |
- **SLOT OWNERSHIP, both halves. Attention: rising fast but tier-one zero, so call it 3rd of the RH routing field behind GMGN and Maestro. Structural: LAST. Definitive does $264,375/30d and KyberSwap $328,558/30d on this chain; Route does $2,006,574 of volume in its entire life and $0 of revenue.** The narrative is ahead of the position by a wide margin.
- **TOLL BOOTH TEST: FAILS on the product, by explicit design. Take rate 0 bps, read from the docs and consistent with an immutable contract that has no fee setter.** It passes only in the reflexive sense that OURO passes: it taxes its own holders. Chain growth does nothing for the token until a fee exists.

## THREE FRAMES
- **Frame 1, fundamental anchor: $1.5M to $3M.** Product revenue is zero and cannot be switched on in the current contracts. The only live cash flow is the 2% tax on ROUTE's own trading, which is reflexive and dies with volume. What is actually banked is 132,022,241 tokens locked (13.2%), which is a claim on itself, not an asset. On a two-day-old aggregator with $2.0M of lifetime volume there is no revenue multiple to apply.
- **Frame 2, live-product floor: $2M to $6M.** The band this chain pays for a deployed, non-scam product with a working app, real docs and an honest benchmark. Route clears every gate: clean immutable token, Pons hard lock, no whale, largest movable wallet 2.06%, a live API, and published tests it loses. **At $7.2M it is already above this band.**
- **Frame 3, narrative ceiling: $31M to $49M realistically, $123M as the fantasy.** The whole RH aggregator category earns about $7.4M a year. At Jupiter's 16.6x, capturing 100% of it is $123M and is not achievable with KyberSwap, Definitive and Rialto already there. A credible 25% to 40% share, with a fee actually turned on, is $31M to $49M. **The genuinely large prize is not the aggregator category at all: it is the front end, where GMGN alone runs at $244M a year on this chain. If Route ships the trading bot, the ceiling changes category.**

## VERDICT 10 Sep 2026
- **The project is real and unusually honest; the token is 2.5 days old, has doubled in six hours, and captures nothing from the product it is named after.**
- FOR: immutable clean contract, no dev bag visible, 13.2% locked by verifiable open-market buying, 8.16% in the Pons hard lock, a live app with a public API, docs that publish their own losses, and a dev with a real account who answers questions in public.
- AGAINST: **$2,006,574 of lifetime product volume**; 0 bps fee that **cannot** be enabled without new contracts; their own benchmark loses on the deep pairs; seven aggregators already on the chain, two of them already earning more than Route ever has; the entire category is worth $7.4M/yr; **and the buyback is a launch-day event, not a running flywheel.**
- **FALSIFIERS, checkable:** (1) `/api/v2/activity` volume does not clear $10M inside two weeks; (2) no new ROUTE enters the locker `0xd0f7d8c6e9f6d80c297bebe4f7fd1b9c8125c32f` for 7 days (it has already been quiet since 8 Sep); (3) the promised fee source is still unannounced in 30 days.
- **UPGRADE TRIGGER: a fee actually switched on with new contracts, or Route's daily routed volume clearing 1% of chain DEX volume (about $19M/day).** Either one turns Frame 3 from a story into a multiple.
- **WHAT WOULD MAKE IT A DIFFERENT ANIMAL: the trading bot.** GMGN's $244M/yr run rate on this chain is 33x the whole aggregator category.
- Source note: `route.fun/api/v2/activity` returned `"stale": true`. Blockscout not used. Unlock date on the locker not verified.