TVL on Robinhood Chain Approaches $100 Billion Amid Uniswap Liquidity: Standard Chartered
TVL on the Robinhood Chain is approaching $1 billion, driven by a key partnership with Uniswap that provides liquidity, according to Standard Chartered. This collaboration is helping Robinhood scale its new blockchain rapidly by leveraging Uniswap's existing DeFi infrastructure (V2, V3, and V4 versions), instead of building liquidity from scratch.
The partnership has also significantly impacted Uniswap's tokenomics. Since activating a fee-redirection mechanism related to Robinhood on July 27, the burn rate for UNI tokens has roughly doubled. At an annualized rate of about $90 million, this equates to burning over 4% of the circulating supply per year at current prices.
Launched on July 1 with a focus on tokenizing real-world assets, Robinhood Chain saw nearly 194,000 daily active users in its first week. This blockchain initiative is part of Robinhood's broader strategy to expand beyond traditional stock trading into areas like crypto, prediction markets, and tokenization, which has drawn positive attention from Wall Street analysts.
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