The Wealth Creation Effect of Robinhood Chain: A Review of Popular Ecological Projects and Participation Guide

Author: Biteye

Who would have thought that the traditional brokerage Robinhood @RobinhoodApp would become the biggest dark horse in the L2 track this year!

Last year, Robinhood announced the development of its own Layer 2, aiming to support US stocks and ETF tokenized products. At that time, it was ridiculed, seen as just another Web2 financial giant dipping its toes into the blockchain, likely to fade away after a brief hype.

However, since its mainnet launch on July 1, Robinhood Chain generated approximately $3.6 million in revenue in its first month, slapping the faces of crypto OGs 🤕

🔥So why is Robinhood Chain so popular?🧐 {#article-toc-33301-2}

The most important factor is that Robinhood does not need to re-educate the market; it can directly migrate existing financial demands onto the blockchain. Robinhood comes with millions of financial users who have already developed a habit of buying stocks, ETFs, and crypto.

Based on this, we have detailed the projects on Robinhood Chain that are worth paying attention to and may have wealth creation potential, helping you discover the next Alpha opportunity of Robinhood ⬇️

🌟The Ecological Landscape of Robinhood Chain: Who Will Be the Next Winner? {#article-toc-33301-3}

Similar to most public chains, the early ecology of Robinhood Chain is still dominated by memes, with the current profile of users on the chain primarily consisting of P characters.

Initially, the market focused on meme projects like CashCat and meme launchpads like PONS. However, as the ecosystem matured, funds began to shift towards projects related to RWA/US stocks like STONKBROKER.

1️⃣CashCat @cashcat_token {#article-toc-33301-4}

CashCat is a meme coin on Robinhood Chain, and its name comes from an interesting historical Easter egg: in the early days of Robinhood, the founding team considered using "CashCat" as the company name.

📊Data:

Market Cap: 137 M

Contract Address:

0x020bfC650A365f8BB26819deAAbF3E21291018b4

2️⃣STONKBROKER @realstonkbroker {#article-toc-33301-5}

STONKBROKER is based on ERC-6551 technology, allowing NFTs to bind to independent wallets and further carry stock tokens and other assets. Its biggest feature is the combination of meme, NFT, and RWA stock assets.

A StonkBroker NFT is not just a collectible; once activated, the protocol uses ecosystem revenue to purchase stock-related assets and distributes them to NFT holders. Meanwhile, the NFT activation mechanism and destruction design create a continuous consumption of tokens.

📊Data:

Market Cap: 55 M

Contract Address:

0xe934e36A439C94017B64a3FecE66AF12099aBF50

3️⃣Pons @ponsdotfamily {#article-toc-33301-6}

PONS is a non-custodial token launchpad on Robinhood Chain, positioned similarly to http://Pump.fun on Solana. Any user can create ERC-20 tokens with one click through their wallet, mainly for issuing meme coins and community assets.

📊Data:

Market Cap: 31 M

Contract Address:

0x39dBED3a2bd333467115dE45665cC57F813C4571

If STONKBROKER represents the community culture of Robinhood Chain, then protocols like Lighter and Morpho represent institutional recognition of Robinhood's distribution capabilities.

Here, we must mention Robinhood's two distribution channels: the Robinhood main site and the Robinhood wallet.

According to community rumors, Morpho paid about $100 million to Robinhood for integration opportunities on the main site. Currently, Robinhood's Robinhood Earn utilizes the lending infrastructure provided by Morpho.

Lighter, on the other hand, chooses to distribute perpetual trading products through the Robinhood Wallet. In their collaboration, Lighter and Robinhood share trading fees at a 50/50 ratio, and Lighter has also launched an incentive program of about $25 million to promote user growth for Robinhood Wallet.

4️⃣Lighter @Lighter_xyz: The Perpetual Trading Infrastructure on Robinhood Chain {#article-toc-33301-7}

Lighter is an important trading protocol on Robinhood Chain, responsible for meeting on-chain leveraged trading demands. It has launched custom deployments on Robinhood Chain and provides perpetual trading services to users through the Robinhood Wallet.

What’s even more noteworthy is that Lighter will also support Robinhood Chain assets as collateral for perpetual trading, including assets like USDG, allowing the assets, trading, and liquidity of Robinhood Chain to begin forming a closed loop.

📊Data:

Market Cap: 2.3 B

TVL: 533 M

5️⃣Morpho @Morpho: The Lending Infrastructure Behind Robinhood Earn {#article-toc-33301-8}

Morpho is a decentralized lending protocol, primarily focused on providing on-chain lending infrastructure.

Currently, Robinhood's Robinhood Earn utilizes the lending services provided by Morpho, with institutions like Steakhouse participating in vault management.

For Robinhood, Morpho provides a mature DeFi financial module; for Morpho, Robinhood offers an entry point for traditional financial users.

📊Data:

Market Cap: 2 B

TVL: 7.9 B

🌟Another Opportunity of Robinhood Chain: US Stock Assets are Becoming On-Chain Liquidity Pools {#article-toc-33301-9}

Thanks to Robinhood's layout on RWA and stock tokenization, Robinhood Chain is forming an ecological characteristic that distinguishes it from other L2s: traditional US stock assets are beginning to become part of on-chain liquidity.

In the past, meme coins primarily relied on ETH, SOL, or stablecoins as trading pairs, but on Robinhood Chain, there are already liquidity pools composed of meme tokens and US stock tokens.

For example:

·Meme Token / SPY

·Meme Token / NVDA

At the same time, to promote the development of the US stock token ecosystem, liquidity pools on Robinhood Chain have also received high incentives. Currently, some US stock token pools on Uniswap have reached high APR levels:

·SPY/USDG liquidity pool APR 36%, plus Merkl incentives, total APR reaches 67%.

·SPY/QQQ LP APR is also 107%.

It is important to note that these yields do not come solely from the stock assets themselves but are primarily composed of trading fees and ecological incentives. In the early stages, due to the smaller liquidity scale, incentives were concentrated on LPs, resulting in APR being significantly higher than in mature markets.

🌟Final Thoughts {#article-toc-33301-10}

In contrast, Base has focused on "everything on-chain" for the past few years, loudly proclaiming its desire to bring Coinbase's tens of millions of real-name users onto the blockchain.

However, Base's inexplicable support for "social" and "creator tokens" has left stock tokenization stuck at the slogan stage, and recently it launched new products like B20, yet has not accomplished this task.

In comparison, Robinhood Chain's mainnet has only been live for a month, and the SPY/USDG pool already has real depth, meme tokens are starting to form trading pairs with NVDA, and Lighter has connected USDG as perpetual collateral.

📈Robinhood is attempting to achieve something that the crypto industry has long awaited:

To make real financial assets the next large-scale user entry point on the blockchain 🚪.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.