Robinhood Chain Surges Past Polygon, Base in Active Wallets on EVM DEXs

The Robinhood Chain has experienced rapid growth since its mainnet launch on July 1. The network, which supports daily transactions averaging around 26,000 new tokens, has surpassed Polygon and Base in active wallets on Ethereum Virtual Machine (EVM) spot decentralized exchanges (DEXs). According to data from Dune, the chain now ranks second among EVM chains for daily active wallets.

On July 20, Robinhood Chain reported 191,855 active wallets out of a total 864,665 across all EVM chains. This achievement is significant, considering the network is less than three weeks old.

The chain's success can be attributed to its impressive distribution and DeFi stack. With around 28 million users having direct access to the new network from the start, protocols like Uniswap and Morpho were live on day one. As of this writing, Morpho holds a TVL of roughly $266 million.

The presence of lending markets and deep liquidity on the chain since its launch has contributed to its growth. This is unusual for new chains, which often take months to develop. The addition of launchpads like Noxa and Pons.family has further fueled the network's activity.