Key Takeaways:
Uniswap processed $250 million in cumulative trading volume on Robinhood Chain within its first week of going live, data from the protocol shows.
"Robinhood Chain is a meaningful step toward tokenized equities becoming part of mainstream financial infrastructure," Amir Bandeali, chief executive officer at 0x, said.
The chain, built on Arbitrum technology as a permissionless Ethereum Layer-2 blockchain, went live July 1-2. Uniswap deployed versions v2, v3, v4 and UniswapX from day one, making it the chain's primary automated market maker. The network features 100-millisecond block times and is designed for trading tokenized real-world assets including stock tokens and ETFs.
The rapid adoption supports Uniswap's multi-chain strategy as competition among L2 networks intensifies. Coinbase operates Base, and Robinhood now has its own chain — letting Uniswap capture volume regardless of which network gains traction. UNI token surged 11-14% following the launch.
Robinhood Chain launched with partners including Morpho, 1inch, Arbitrum, Chainlink, Alchemy, BitGo and Pleiades. The dYdX Foundation also announced that Arcus, a new decentralized exchange being developed by dYdX Labs, will be built on Robinhood Chain.
The chain's focus on European users is strategic. Robinhood has been expanding its European footprint, and tokenized stocks and ETFs represent a product category that European regulators have been more receptive to than their US counterparts. The brokerage serves about 28 million users across 38 countries and recently closed its acquisition of Canadian platform WonderFi.
0x, which has powered Robinhood Wallet's swap infrastructure since 2023, extended its role to provide RFQ-based liquidity for stock tokens and cross-chain swap access on Robinhood Chain at launch. The 0x Cross-Chain API reached general availability July 4 after a private beta that saw more than $230 million bridged across 25-plus blockchains. More than $400 billion in total volume has flowed through 0x APIs since launch.
HOOD shares rose 14% in the week following the product unveiling. The company is scheduled to report second-quarter earnings July 29.
This article is for informational purposes only and does not constitute investment advice.
