Robinhood Chain launched and the numbers are astounding

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Robinhood Chain’s mainnet launch has been a blockbuster. Here’s the snapshot:

TVL on Robinhood Chain has grown by at least $10m most days, with a particularly strong inflow day today.

Morpho and Uniswap dominate TVL, combining for 96% of all locked value.

Chain activity pushed Robinhood up to the top 5 chains in 7d DEX volume, moving nearly 10% of all onchain DEX volume.

While the capital base is still small compared to competitors, Robinhood Chain is punching well above its weight in DEX activity and has the highest DEX volume-to-TVL ratio compared to competitors.

Uniswap is currently facilitating over 99% of Robinhood Chain’s DEX volume. Nearly $4b in volume has exchanged hands through Uniswap just over the last seven days, and total Uniswap DEX volume is up 71% WoW.

Robinhood Chain’s $3b in activity is responsible for 25% of Uniswap’s 7d DEX volume and ranks 2nd only to Ethereum, which produced $4.7b.

However, current activity on Robinhood Chain provides Uniswap a much higher effective fee rate than Ethereum. While Ethereum’s volume is dominated by ultra-liquid pairs, Robinhood Chain’s trading is concentrated in much higher fee tiers.

Robinhood Chain is facilitating less volume but earning almost double Ethereum’s fees.

A Uniswap governance proposal is suggesting a protocol fee expansion to Robinhood Chain, meaning fees earned would be routed to Uniswap’s TokenJar and burned.

If this proposal had been implemented at mainnet launch, Robinhood Chain would have doubled the 14-day UNI burn.

This follows a recent proposal to activate protocol fees for Uniswap v4, which would begin accruing fees earned through Uniswap v4 to the TokenJar contract to be sent to the burn address. The v4 fee activation is significant; v4 has brought in $150m in fees YTD. For reference, v3 brought in $161m over the same period.

Robinhood is currently running incentives for users through Robinhood Wallet:

When trading on a new chain, make sure there is sufficient liquidity (so you don’t end up like this trader). LlamaSwap forbids disadvantageous swaps and is now live powering trades on Robinhood Chain.

Schedule a call with our analyst team at DefiLlama Research for more market insights and to explore our market intelligence tools.

Learn more about how a paranoid approach to LlamaSwap made it safer for traders.

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DefiLlama Risk data help you understand what risks you’re taking on through a variety of scenarios and dependencies.Morpho’s GTUSDCP vault on Base shows what our exits are, what backs the vault and the vault’s track record.

We know the detailed exposure of each asset in the pool, can simulate what happens if collateral prices drop, and know what our risk is if oracle fees are mispriced.

Aside from a total loss due to a smart-contract bug, the Risk Scenario list shows us a -30% drop in the price of collateral results in a possible loss of up to 17% of the vault’s value. At 50%, the possible loss rises to 38%.

Pick a dependency and understand your risk:

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