A BROKERAGE’S OWN CHAIN OUT-EARNED ETHEREUM IN A DAY — $875 MILLION TRADED — AND WHAT’S MOVING ON IT IS MOSTLY STOCKS

Robinhood’s own chain traded $875 million on August 30 — $432 million through Uniswap v4, $357 million through v3 — across 5.52 million transactions in a day. The next day its apps took in $2.66 million over 24 hours. That is more than Hyperliquid’s chain at about $1.7 million, more than Ethereum at about $1.27 million, and roughly six times Base. Now look at what is actually moving. The seven most-traded tokenized stocks did $4.3 billion in the last thirty days and three of them live here; Uniswap alone has pushed about $1.5 billion of tokenized stock through this chain in six weeks. A token launchpad on it minted 22,600 new tokens in a single day. So the chain is winning, and almost nothing on it is crypto. It is Apple and Tesla and Nvidia wearing chain clothing, plus a firehose of tokens that did not exist yesterday. This is the same trade as ICE buying into tZERO and BlackRock’s tokenized Treasurys: keep the asset, change the plumbing, collect the fee. The plumbing is genuinely better. It does not make the asset any harder to print.