robin hood chain (@RobinhoodCrypto) The full quantity locked within the first eight days reached roughly $79 million, rising by nearly 69% up to now 24 hours. This was a powerful begin for the blockchain, which the brokerage solely switched to on July 1st. It additionally turned out to be one thing Robinhood hadn't deliberate for. meme coin playground. The chain is gaining actual liquidity and actual consideration, and never simply in the best way its launch pitch urged.
What’s Robinhood Chain?
The Robinhood chain is Robinhood (@RobinhoodApp) Proprietary Ethereum Layer 2 constructed on the Arbitrum Orbit stack and again to Ethereum for safety. use $ETH For gasoline, block occasions run in roughly 100ms and are absolutely appropriate with EVM, so normal contracts are deployed with out modification. There are not any separate chain tokens. I defined the technical overview in a earlier article, however What’s Robinhood's new L2 blockchain?when the mainnet first went dwell.
This chain began with a product already bolted on, relatively than an empty developer sandbox. The spotlight function is inventory tokens. It’s a tokenized model of shares akin to NVDA, GOOG, and AAPL, and is traded 24 hours a day by means of Robinhood wallets in over 120 international locations. On high of that, Robinhood Earn has additionally arrived. $USDG You should buy stablecoins through Morpho for round 7% APY, in addition to perpetual cash through Lighter and AI-driven buying and selling instruments. Day one companions included Uniswap, Chainlink, BitGo, and Alchemy.
How huge is it and how briskly is it?
Development was quick. In line with CryptoTimes, the chain gained over 141,000 new lively wallets on July 8, rising each day lively addresses to round 193,000. As of July 9, the overall quantity locked reached $78.97 million, a rise of 68.72% in sooner or later, and the chain is nearing its highest value this week.
Most of its worth is saved in a single place.
- The mortgage to Morpho accounted for almost all, amounting to roughly $58 million.
- Uniswap is an in depth second with $20.6 million.
- Every thing else, from prediction markets to launch pads, lags far behind.
A lot of that’s DeFi-native capital chasing yield relatively than being swarmed by Robinhood's 28 million customers, and the chain is footing the gasoline charges for the primary 90 days, which compliments the early exercise. steady coin The chain's market capitalization is $267.98 million. $USDG It accounts for 68.87%. It’s value maintaining these two numbers separate, because the stablecoin saved within the pockets will not be the identical as the worth locked within the protocol. The actual-world lively asset market capitalization is simply $12.8 million. For a sequence that sells in tokenized shares, its RWA numbers are outstanding.
Buying and selling was the largest half. The chain's decentralized change noticed $433 million in commerce quantity led by Uniswap up to now 24 hours, one of many largest single-day totals of any exterior Uniswap deployment. Ethereum. Apps constructed on the chain collected $1.47 million in charges up to now day, however chain-level charges remained modest at $38,861 for the backed new community.
meme coin twist
The difficult half for Robinhood was what stuffed that house. The chain touted genuine real-world belongings and AI-native finance. Merchants used it to challenge meme cash.
Tenev (@vladtenev) spent weeks drawing the road between real-world belongings and hypothesis, questioning the purpose of endlessly spinning up meme cash. Then the fact on the chain set in and his tone modified. Robinhood is constructing a sequence of RWAs, which it admitted. ”Additionally nice for memes.“The middle of enthusiasm is $cashcata token named after Robinhood's previous mascot “Money Cat”, reached a market capitalization of $140 million in a couple of days. On July 8, Solana Launchpad's Pump(dot)enjoyable obtained an excellent greater enhance by including assist for Robinhood Chain tokens, permitting merchants to purchase tokens with no bridge. At present, Memecoin buying and selling accounts for a considerable share of its each day DEX quantity. It is a widespread sample with low charges E.V.M. However that's not the story that publicly traded firms need to dominate launch protection.
Can I get tokens on Robinhood Chain?
The chain makes use of $ETH Concerning gasoline, Robinhood didn’t announce a local token, factors program, or airdrop. There are structural causes for that. Robinhood is a public firm listed on the NASDAQ as $HOOD, and any on-chain token or related factors scheme might invite intense SEC scrutiny that non-public crypto-native initiatives wouldn’t face.
There are additionally clear precedents. coinbase was constructed basea Layer 2 linked to a different giant brokerage agency, deliberately avoids token launches and as an alternative depends on ecosystem development and developer incentives. Robinhood's public messaging follows the identical script, with an emphasis on product integration and world attain. tokenomics.
robin hood chain $ETH In Fuel's case, it holds about $79 million in TVL, most of which remains to be lent out, moved $433 million in buying and selling quantity on the DEX up to now day, and is internet hosting a meme coin scene that the corporate had not initially deliberate.
supply of data
- robin hood chain Official product web page for the chain, its structure, and launched merchandise
- Defilama Stay information on TVL, DEX quantity, stablecoin market cap, RWA lively market cap
- Crypto Occasions Goal vary $cashcatfile lively tackle depend and Tenev's memecoin feedback
- insurgent Pump.enjoyable integration and report on mortgage inflows and meme buying and selling splits
