robin hood chain (@RobinhoodCrypto) The total amount locked in the first eight days reached approximately $79 million, increasing by almost 69% in the past 24 hours. This was a strong start for the blockchain, which the brokerage only switched to on July 1st. It also turned out to be something Robinhood hadn’t planned for. meme coin playground. The chain is gaining real liquidity and real attention, and not just in the way its launch pitch suggested.
What is Robinhood Chain?
The Robinhood chain is Robinhood (@RobinhoodApp) Proprietary Ethereum Layer 2 built on the Arbitrum Orbit stack and back to Ethereum for security. use $ETH For gas, block times run in approximately 100ms and are fully compatible with EVM, so standard contracts are deployed without modification. There are no separate chain tokens. I explained the technical overview in a previous article, but What is Robinhood’s new L2 blockchain?when the mainnet first went live.
This chain started with a product already bolted on, rather than an empty developer sandbox. The highlight feature is stock tokens. It is a tokenized version of stocks such as NVDA, GOOG, and AAPL, and is traded 24 hours a day through Robinhood wallets in over 120 countries. On top of that, Robinhood Earn has also arrived. $USDG You can purchase stablecoins via Morpho for around 7% APY, as well as perpetual coins via Lighter and AI-driven trading tools. Day one partners included Uniswap, Chainlink, BitGo, and Alchemy.
How big is it and how fast is it?
Growth was fast. According to CryptoTimes, the chain gained over 141,000 new active wallets on July 8, increasing daily active addresses to around 193,000. As of July 9, the total amount locked reached $78.97 million, an increase of 68.72% in one day, and the chain is nearing its highest price this week.
Most of its value is stored in one place.
- The loan to Morpho accounted for the majority, amounting to approximately $58 million.
- Uniswap is a close second with $20.6 million.
- Everything else, from prediction markets to launch pads, lags far behind.
Much of that is DeFi-native capital chasing yield rather than being swarmed by Robinhood’s 28 million users, and the chain is footing the gas fees for the first 90 days, which compliments the early activity. stable coin The chain’s market capitalization is $267.98 million. $USDG It accounts for 68.87%. It’s worth keeping these two numbers separate, as the stablecoin stored in the wallet is not the same as the value locked in the protocol. The real-world active asset market capitalization is just $12.8 million. For a chain that sells in tokenized shares, its RWA numbers are remarkable.
Trading was the biggest part. The chain’s decentralized exchange saw $433 million in trade volume led by Uniswap in the past 24 hours, one of the largest single-day totals of any external Uniswap deployment. Ethereum. Apps built on the chain collected $1.47 million in fees in the past day, but chain-level fees remained modest at $38,861 for the subsidized new network.
meme coin twist
The tricky part for Robinhood was what filled that space. The chain touted authentic real-world assets and AI-native finance. Traders used it to issue meme coins.
Tenev (@vladtenev) spent weeks drawing the line between real-world assets and speculation, questioning the point of endlessly spinning up meme coins. Then the reality on the chain set in and his tone changed. Robinhood is building a chain of RWAs, which it admitted. ”Also great for memes.“The center of enthusiasm is $cashcata token named after Robinhood’s old mascot “Cash Cat”, reached a market capitalization of $140 million in a few days. On July 8, Solana Launchpad’s Pump(dot)fun received an even bigger boost by adding support for Robinhood Chain tokens, allowing traders to buy tokens without a bridge. Currently, Memecoin trading accounts for a substantial share of its daily DEX volume. This is a common pattern with low fees E.V.M. But that’s not the story that publicly traded companies want to dominate launch coverage.
Can I get tokens on Robinhood Chain?
The chain uses $ETH Regarding gas, Robinhood did not announce a native token, points program, or airdrop. There are structural reasons for that. Robinhood is a public company listed on the NASDAQ as $HOOD, and any on-chain token or similar points scheme could invite intense SEC scrutiny that private crypto-native projects would not face.
There are also clear precedents. coinbase was built basea Layer 2 linked to another large brokerage firm, intentionally avoids token launches and instead relies on ecosystem growth and developer incentives. Robinhood’s public messaging follows the same script, with an emphasis on product integration and global reach. tokenomics.
Robinhood chain goes live $ETH In Gas’s case, it holds about $79 million in TVL, most of which is still lent out, moved $433 million in trading volume on the DEX in the past day, and is hosting a meme coin scene that the company had not originally planned.
source of information
- robin hood chain Official product page for the chain, its architecture, and launched products
- Defilama Live data on TVL, DEX volume, stablecoin market cap, RWA active market cap
- Crypto Times Target range $cashcatrecord active address count and Tenev’s memecoin comments
- rebel Pump.fun integration and report on loan inflows and meme trading splits
