Robinhood’s new Arbitrum-based Layer-2 network accumulated over $70 million in bridged Ethereum during its first seven days of operation. The platform, Robinhood Chain, launched its mainnet on July 1, signaling a structural transition for the retail trading application from a traditional brokerage into a direct onchain infrastructure provider.
What We Know
- The network recorded 194,000 daily active users during its opening week, according to Token Terminal data.
- Daily revenue hit $39,000, establishing an immediate $14 million annualized revenue run rate.
- DefiLlama metrics show the chain accumulated 46,748 ETH in total value locked.
- Thursday saw the largest single-day surge, drawing 31,855 ETH in inflows.
The rapid capital influx caught the attention of decentralized finance developers. Uniswap founder Hayden Adams endorsed the network’s design on Friday, praising the platform’s heavy reliance on Ethereum. Adams noted that ETH functions as the base pair, the highest volume asset, the gas token, and the payment mechanism for Layer-1 data storage, according to Cointelegraph.
How Tokenized Assets Challenge Legacy Trading Hours
Robinhood built the network specifically to support real-world assets and circumvent standard Wall Street market hours. The chain utilizes decentralized automated market makers to facilitate 24/7 tokenized stock trading. This technical launch aligns with the company’s aggressive international expansion strategy, following a recent capital markets services license approval in Singapore and the introduction of zero-fee cryptocurrency trading in Canada.
Robinhood is preparing “Agentic Accounts” in the US, allowing retail traders to connect artificial intelligence models directly to data feeds for high-frequency trading execution natively on the platform.