Robinhood Chain cleared more than $3 billion in DEX volume during its first full week, but meme coins, not the tokenized stocks it was built for, drove the traffic. Tokenized stocks hold about $13 million while stablecoins and lending carry the network.
Robinhood Chain was pitched as infrastructure for tokenized real-world assets, yet its opening two weeks ran on meme trading. The Arbitrum Orbit layer two network cleared more than $3 billion in decentralized exchange volume during its first full week, according to defillama.com, most of it flowing through meme coins rather than stock tokens.
Meme trading powers the launch
The network launched its public mainnet on July 1 at Robinhood's "The World Is Flat" event in London, with CEO Vlad Tenev presenting it as a home for tokenized real-world assets. Launch partners included Uniswap, Chainlink, Bitgo and Morpho. Robinhood's existing base then supplied the early activity.
Uniswap's dedicated pool absorbed nearly all of the trading. Defillama figures show Uniswap generated $868.03 million in 24-hour volume and $3.097 billion over seven days, while rivals such as Arcus and Pancakeswap combined for a fraction of that total. Much of that traced back to cash cat (CASHCAT), a meme coin with a market cap near $144.6 million and $34.8 million in 24-hour trading volume.
Lending and stablecoins hold the network up
Beyond the meme flow, total value locked reached $139.78 million, up 11.64% over 24 hours, defillama.com logs show. Morpho Blue accounted for $89.04 million of that figure, with active loans totaling $100.93 million almost entirely tied to Morpho. Stablecoin supply, meanwhile, reached $294.42 million, with USDG making up 66% of the total.
Tokenized stocks stay small
The assets the chain was built for barely register. Defillama places the network's real-world asset market cap at $12.67 million, and more than 65,000 users hold about $13 million in tokenized stocks. That sits against roughly $300 million in stablecoins and $3.1 billion in weekly DEX volume.
Tenev acknowledged the pattern, noting that a network built for real-world assets also works well for meme trading. But the early tally rests on shaky counts: growthepie has warned that active address numbers can be inflated by incentive-driven wallet activity.
Source: Bitcoin News
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