According to Cointelegraph, Standard Chartered analyst Geoffrey Kendrick noted that Robinhood Chain’s total value locked (TVL) is nearing $1 billion, with its liquidity needs met by Uniswap V2, V3, and V4. Since the fee mechanism was activated on July 27, the annualized UNI token burn volume has reached approximately $90 million, equating to roughly 25 million UNI tokens burned annually at a price of $3.50, representing over 4% of the circulating supply. Robinhood Chain launched on July 1, with daily active users reaching 194,000 in its first week.
Robinhood Chain TVL Approaches $1 Billion, Driving Uniswap Token Burn
AiCoinShare
Summary
Robinhood Chain’s TVL approaches $1 billion, marking a major on-chain milestone. Uniswap V2, V3, and V4 are providing liquidity as the chain gains momentum. Since July 27, UNI token burns have reached $90 million annually, with 25 million tokens burned yearly at $3.50 each. Robinhood Chain launched on July 1 and reached 194,000 daily active users within one week. New token listings on the chain are anticipated as TVL continues to grow.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.