GMTrade Abandons Solana for Robinhood Chain Amid Heavy Competition

GMTrade, a Solana-native trading project, announced it will leave Solana and move to Robinhood Chain. The decision was made due to heavy competition on Solana and decreasing visibility from Anatoly Yakovenko, co-founder of Solana.

The team stated that 'the competition on Solana is too tough' and mentioned that 'retweets from @toly started drying up.' This move follows World.xyz's decision to migrate from Solana to Robinhood Chain after a 24-hour review.

Robinhood Chain, launched on July 1, is built around real-world assets, tokenized stocks, lending, borrowing, and DeFi primitives tied to Robinhood Wallet. The network has already seen early DeFi liquidity move through the network, with protocol TVL rising from $83 million to $147 million after Ethena seeded $50 million into a Steakhouse Financial USDG vault.