Robinhood Chain, launched just two months ago, now generates over $4 million in daily revenue—approximately twice that of Hyperliquid and five to six times that of Tron and Solana, accounting for two-thirds of Ethereum L2's total revenue.

Author: 100y_eth

Article translated by AididiaoJP, Foresight News

Robinhood Chain is surging ahead

Robinhood Chain is experiencing unprecedented growth.

Just two months after launch, daily revenue has exceeded $4 million—roughly twice that of Hyperliquid and five to six times that of Tron and Solana. This means it has surpassed projects with fully diluted valuations in the tens of billions of dollars and now accounts for two-thirds of all Ethereum L2 revenue.

But if you trace back its explosive growth trajectory, something feels off.

This is not the familiar public chain growth playbook.

Robinhood Chain reverses the script

Most blockchain networks we've seen in the past have followed nearly identical growth paths:

Start with foundational DeFi, such as DEXs and lending markets; then introduce flagship NFT projects; subsequently, bring in a variety of non-financial native projects through ecosystem support programs and hackathons to enrich and diversify the ecosystem.

Later, retail-driven speculative projects—primarily meme coins—began to surge. Once ecosystem growth hits a ceiling, shift focus to RWA and institutional DeFi to find the next wave of growth.

Robinhood does almost the exact opposite.

Its core positioning is the stock token ecosystem, as clearly stated on the official website. On its launch day, Robinhood Chain supported stock token issuance and integrated with foundational DeFi protocols such as Uniswap and Morpho.

Initially relatively quiet. What truly ignited growth was meme coins.

The interesting part isn't in CashCat.

CashCat initially attracted attention, but it didn't deviate from the familiar meme coin playbook already established by other ecosystems.

Traditionally, meme coins on other chains have been paired with native assets like ETH or SOL. Robinhood Chain changes this. Starting with LONG, launchpads like Pons (@ponsdotfamily) now allow meme coins to be issued directly alongside stock tokens.

Meme coins and stock tokens. Two entirely different asset classes suddenly placed in the same market.

This gameplay suddenly went viral. Pons once surpassed Hyperliquid and Pump.fun in daily revenue, with its token skyrocketing and gaining even more attention.

New玩法 have also emerged, such as distributing stock tokens as airdrops to anyone holding a specific meme coin.

The ecosystem has completely blown up.

Robinhood can completely reverse the traditional public blockchain playbook, primarily for these reasons:

Stock tokens were available on day one. Traditional public blockchains put RWA last, and a very practical reason for this is that RWA has only recently become a mainstream sector in the past few years. Robinhood Chain launched later but supported stock tokens from day one, making them the foundation of ecosystem growth rather than an afterthought.

Robinhood’s brand. Robinhood is a traditional financial company, but its brand has long been tightly linked with retail investors and degenerate culture. GameStop, options trading, crypto, meme stocks—over the past few years, Robinhood has been at the center of nearly every major U.S. retail speculative surge. So pairing stock tokens with meme coins is actually more natural than it seems. Meme stocks were an off-chain phenomenon; on Robinhood Chain, the same culture reemerges in the form of “meme coins paired with stock tokens.”

Users and liquidity already exist. Most new blockchains start from scratch: they first attract developers, offer subsidies, and then try to convince users to join. Robinhood is different. It already has tens of millions of users, stocks are familiar assets to those users, and it has the massive Robinhood distribution channel. On other chains, applications must bring their own users; on Robinhood Chain, applications can simply follow the existing users and assets.

Reuse existing infrastructure. Robinhood doesn’t need to build everything from scratch. Proven DeFi protocols like Uniswap and Morpho already exist, and developers can directly use established EVM tooling. The foundational layers that other chains took years to build are immediately available to Robinhood.

Robinhood Chain is following a growth trajectory we’ve rarely seen.

Currently, meme coins have brought significant liquidity on-chain.

Next, we’ll see how long this wave of Meme mania can last.

If the hype eventually fades, what truly matters to observe is whether Robinhood Chain can retain this liquidity and foster the emergence of genuinely useful native projects from its ecosystem.