Robinhood链上线两月日收260万美元超越以太坊

A little over 2 months ago, Robin Hood chain didn't even exist. And yet, it just pulled in $2.6 million of revenue in a single day, putting it above Ethereum mainet and even above Hyperlid in terms of 24-hour app revenue. On that day, the only network earning more was Salana. But remember what we're talking about here. This is Robin Hood, the platform people bought GameStop on during the market madness of 2021. Just 2 months into its existence, a retail brokerages blockchain outearned networks that have been grinding away at this for years, some for the better part of a decade.

It's one of the most impressive feats in crypto's wild history. But how did they pull it off? And where does it go from here? Well, today we look to answer exactly those questions. We're breaking down what's happening on Robin Hood Chain, why it took off this fast, and why so few in the industry saw it coming. My name is Guy, and this is the Coin Bureau. Now, Robin Hood chain burst onto the scene in a way crypto natives aren't exactly used to.

Most, not all, but most new chains basically launch into an empty room. They ship a mainet. They announce a few partners here and there. And then they spend the next few years and a huge incentive budget trying to convince people to bridge to the chain. Well, Robin Hood essentially did the opposite. When Robin Hood chain went live on the 1st of July, it already had two things most new blockchains would kill for. Hype and distribution.

For one, crypton natives were already watching. This was one of the more interesting new chain launches at a time when there wasn't exactly a flood of them competing for attention. And Robin Hood wasn't starting from scratch on the user side either. It already had 28 million funded customers, its own web 3 wallet, and a ready-made funnel for pushing people towards its onchain ecosystem. And the numbers that came out of the first month are nothing short of astounding, especially when you consider that crypto sentiment wasn't particularly positive at the time.

Roughly 138 million transactions in the first 30 days, which made it the fastest EVM chain ever to reach 100 million transactions. By week three, around 324,000 daily active addresses, which was ahead of Coinbase's base network. At the same stage, over 2 million monthly active addresses inside 3 weeks. Total value locked went from about $4 million just before launch to several hundred million by late summer with stable coins on the chain up 47% month over month.

But one thing that really helped the ecosystem hit the ground running was the fact that it launched prepopulated. UniS swap, Chain Link, BitGo, Athena, trading terminals, launchpads nobody had heard of a month earlier, and a whole heap of others. Now, we'll come back to whether any of that activity I just mentioned is truly durable because there are a few questions to be answered there. But first, what are these people actually doing on Robin Hood chain?

Well, this is where things get a little funky even for crypto. Robin Hood's crypto leadership said their chain is hosting two wolves. Yes, you heard me correctly. Two wolves. One wolf is institutional plumbing for tokenized realorld assets. The other wolf is a full-blown memecoin casino. And apparently these wolves form a two-wolf pack on the same network. So let's first look at the casino wolf. Well, there's a launchpad called pawns where anyone can deploy a token in about 30 seconds with no code and no vetting.

Essentially the pumpf fun of Robin Hood chain pawns minted north of 22,000 new meme coins in a single day at its peak. A memecoin called cash named after what was the original working name for Robin Hood before the rebrand ran to a 9 figure market cap and Robin Hood then listed it on the actual brokerage app. Daily DEX volume on the chain peaked somewhere approaching a billion dollars with cumulative volume running into the tens of billions.

And then there's wolf number two. About 200 tokenized US stocks and ETFs alive, backed one to one by real shares held in regulated custody. Over $1.5 billion of cumulative tokenized equity volume, almost all of it rooting through unis swap with chain link wired in as the price oracle from day one. Now, this is the part where it all gets a tad technical, so bear with me. Strictly speaking, these tokens are not literal shares.

They're debt securities issued by a Robin Hood entity that track the stock and pay dividend equivalents without voting rights. So, it's a bit like owning the economics of the share without a seat at the annual meeting. But here's what makes this chain unlike anything in traditional finance. Because the stock tokens are just ERC20 tokens like any other, people quickly started building liquidity pools that pair them with, yep, you might have guessed it by this point, memecoins.

So instead of a memecoin being paired with ETH in a liquidity pool, you can now have one paired directly against Nvidia's NVDA. According to onchain data, tokenized equities and ETFs, so Tesla, Nvidia, Apple, Amazon Gold, etc., accounted for around $65.5 million of Launchpad volume. And tokenized NVDA moved more money through those curves than any individual memecoin did. And just to be precise, a tokenized equity like an Nvidia token is simply what the memecoin trades against.

Owning the meme doesn't give you any claim on Nvidia shares or any way to redeem it for them. But in any case, the funny part of all this is pretty clear. Crypto industry leaders have often treated these two worlds as opposites, as if serious finance could only move on chain once the degenerates had been pushed out. But Robin Hood put them in the same pool. And the degenerates, it seems, are going nowhere. And now, look, keeping track of how money is flying in a market this crazy would make any regular person dizzy.

And most people just don't have enough time on their hands. So, let us do it for you. Right here on YouTube, you can now join the Coin Bureau Club Light Plan. You'll get daily coverage across crypto and tradi with our team's read on where the money is actually flowing. And yes, they've been very active on Robin Hood chain recently. But the best part, sign up today and your first month is absolutely free. So just tap the join button below this video to get started.

Right, let's get back to the Wolfpack. Because with all of this activity and innovation, DGEN twist and all, there's been no shortage of criticism either. Many are going as far as to say that this is subsidized nonsense propped up by gas fees and trading bots. And well, there is some merit to that argument. Robin Hood ran a 90-day gas subsidy from launch, covering transaction costs for wallet users, and it's already been trimmed sharply.

Some analysts are comparing what happens next to Blast, an earlier layer 2 whose activity fell off a cliff the moment its incentives ended. And let's return to that headline $2.6 million day that overtook Hyperlid and Ethereum. You could easily argue that's just a single day and not a trend. Over a trailing 30-day window, Hyperlid earned roughly $53 million and Ethereum roughly $52 million against Robin Hood chains 23 million.

Also, around 90% of that day's revenue came from just three applications. And critically, app revenue is not Robin Hood's revenue. That money is captured by unis swap, by launchpads, by trading terminals operating on the chain, not by Robin Hood. There's also some concern about that institutional wolf. Tokenized assets fell from around a third of the chain's total value locked in its first week to roughly 6% by mid August.

In other words, memecoins are currently carrying the institutional story on their back. But even so, something has already changed that no subsidy explains. For all the criticism, Robin Hood really is building things in finance that simply didn't exist before. Tokenized equities on this chain trade 24 hours a day, 7 days a week. And roughly 60% of stock token volume on