Robinhood Chain Surpasses $690M in Daily Trading Volume

Robinhood's Layer-2 blockchain, Robinhood Chain, has seen significant activity since its public mainnet launch on July 1. The platform, built using the Arbitrum stack and leveraging Ethereum's security guarantees, reached a daily decentralized exchange (DEX) trading volume of over $690 million in just one 24-hour window.

This impressive feat was largely driven by a memecoin called Cash Cat, which alone accounted for approximately $98 million in 24-hour trading volume on July 8. The integration of Uniswap's automated market making, Chainlink's oracle services, and Morpho's lending functionality also played a crucial role.

The Arbitrum stack was a deliberate choice by Robinhood, allowing the platform to inherit Ethereum's security guarantees and proven rollup technology. This strategic decision has paid off, with total value locked on Robinhood Chain exceeding $80 million within its first week.