# Robinhood — X 热门讨论 (2026-10-01 06:02 UTC)
## @iiamjeph (Jeph) · 10-01 04:25 · ♥86 ↻29 💬52 rally recently landed on Robinhood chain
one project i’d really like to see on Rally next is @MorphoLabs
i wouldn’t want creators to just explain "onchain lending"
i’d rather see them actually break down the lending experience:
→ how does a market get created? → where does the liquidity come from? → how are borrowing rates determined? → what actually happens when you supply or borrow?
this would make the campaign way more interesting than another round of recycled product descriptions.
if morpho ran a Rally campaign tomorrow, what part of the product would you want creators to explain first ? > 引用 @RallyOnChain: RALLY IS LIVE ON ROBINHOOD CHAIN 🚨
Robinhood built an AI-native chain, so we brought the AI-native attention layer to it.
Starting today, any project on @RobinhoodCrypto can fund a Rally campaign with its own token and put 150K+ creators to work on its story.
Welcome 💚 https://t.co/FkWc6rbgAe https://x.com/iiamjeph/status/2105514291143348528
## @ZUKOWEB3166 (ZUKO) · 10-01 04:26 · ♥81 ↻9 💬66 What $SELECT is and why it sits at the center
$SELECT is the core token of Select Foundation's ecosystem. Its total supply is fixed at 1,000,000,000, and it lives on Robinhood Chain. It isn't a side token bolted onto a launchpad.
It is the first token launched through https://t.co/e6sx1UIbEr itself, using the same Genesis flow every other project uses. That matters because the whole system is designed around it.
Every project that launches after $SELECT pairs a slice of its liquidity with $SELECT. The token sits at the center of everything the Foundation builds, and the more the ecosystem grows, the more value flows back to it.
Most launchpad tokens are an afterthought. $SELECT is the anchor. Its demand is tied to the platform's activity, not to hype cycles, and that design choice is what makes the flywheel possible.
A.........🧵🪡 https://x.com/ZUKOWEB3166/status/2105514670287130979
## @ponsdotfamily (Pons) · 10-01 05:56 · ♥61 ↻7 💬36 one family, built on robinhood
see you next time, houston 💚 https://t.co/XhuvHd5muy https://x.com/ponsdotfamily/status/2105537224532242626
## @iiamjeph (Jeph) · 10-01 05:42 · ♥51 ↻3 💬50 happy new month
winning streak only https://t.co/9OZR1SVjLF > 引用 @iiamjeph: rally recently landed on Robinhood chain
one project i’d really like to see on Rally next is @MorphoLabs
i wouldn’t want creators to just explain "onchain lending"
i’d rather see them actually break down the lending experience:
→ how does a market get created? → where does the liquidity come from? → how are borrowing rates determined? → what actually happens when you supply or borrow?
this would make the campaign way more interesting than another round of recycled product descriptions.
if morpho ran a Rally campaign tomorrow, what part of the product would you want creators to explain first ? https://x.com/iiamjeph/status/2105533917147357304
## @yukimamax (ゆきママ) · 10-01 05:27 · ♥95 ↻4 💬4 マイクロンや、早く2,000ドルに行って、お母さんを安心させておくれよ…🥺
$MU https://t.co/s6JFD97BXP https://x.com/yukimamax/status/2105529976510673395
## @Okada_DeFi0x (Okada_Research) · 10-01 04:46 · ♥76 ↻3 💬19 Tokenized stocks existed since the 2018 STO wave. We got Polymath, tZERO, Mirror, Binance stock tokens, FTX wrappers…
But nobody really answered why someone with easy NVDA access on Schwab would bother buying the wrapper onchain.
Then Robinhood Chain accidentally found the answer this year.
Their Stock Tokens aren't even shares btw. They're Jersey-issued debt securities tracking the underlying, with no voting rights.
But they’re permissionless ERC-20s that an AMM can hold, which is the insanely important property the cleaner institutional versions often didn't have.
So instead of begging ppl to use tokenized NVDA because 24/7 markets or whatever, @longdotxyz and @ponsdotfamily just plugged the stock into the casino.
$AI/NVDA, $BONER/HIMS, SAYLORMOON/MSTR, CINEMA/AMC, SPACEHOOD/SPCX….
Now when someone apes the meme, the stock token on the other side needs to get bought too.
The joke creates stock demand.
That one design change probably did more for actual onchain stock activity than years of trying to convince TradFi users that blockchain NVDA is somehow better than brokerage NVDA.
$BONER stress-tested the whole idea in public.
During the August HIMS squeeze, only ~15.2K tokenized HIMS were outstanding while the authorised mint desk was closed for the weekend.
At one point ~91% of that supply was sitting inside Uniswap v4 pools.
The meme literally ate the float.
This tiny onchain aquarium getting its own supply crisis because the joke became bigger than the wrapper feeding it.
$AI took this one step further, with buy fees arriving in NVDA and 80% going toward a community vault described as permanent.
Count every NVDA-quoted pool and it was ~25% of all tokenized NVDA outstanding at the time.
So now the meme is monetizing its own attention by accumulating the RWA sitting underneath the pair.
Extremely weird primitive.
The part I think institutions missed for six years is that they treated tokenized stocks like a distribution problem.
But crypto users didn’t need another place to buy NVDA. They needed NVDA to become useful inside something they already wanted to trade.
Once the asset is composable enough to plug into degen behavior, demand can appear from places no 24/7 equities marketing campaign could manufacture.
Robinhood also accidentally had the perfect stack for it.
Issuer + wallet + its own L2 + permissionless ERC-20 Stock Tokens + DEX liquidity all sitting in the same loop.
The primary market is controlled by an authorised participant, but the secondary market never sleeps.
Turns out the first killer app for tokenized stocks might be using the stock to price the joke. > 引用 @Okada_DeFi0x: Not every trencher making money holding memes paired with tokenized stocks understands where the yield actually comes from or the plumbing underneath.
To pair a cat with tokenized stocks, someone still needs to issue the stock wrapper first.
Right now we basically got 4 leaders: xStocks, Ondo, bStocks, Robinhood.
But each one is betting on a completely different moat. And the whole tokenized stock market is only ~$5.4B while still microscopic vs TradFi.
1/ @xStocksFi is the most crypto-native distribution play.
– $2.9B distributed value across 1K+ tokenized assets
– flipped Ondo to become the biggest player with 52% market share
– 653K holders + $5.5B 30d transfer volume, up 96%
– $26B cumulative trading volume
xStocks has been pushed across Solana, Ethereum, TON, Ink and a growing list of EVM chains + Kraken/Bybit/Gate/Bitget/wallet distribution.
I like that SPYx, QQQx and NVDAx can be deposited into vaults, @kamino uses the stocks as collateral, stables get borrowed, yield gets harvested and compounded back into the xStock.
xStocks already has roughly $72-104M sitting in DeFi, around 10-12% utilization.
Still early, but directionally much more important than just adding another ticker.
2/ @Ondo is becoming an actual onchain capital markets stack.
– $870M stock AUM across 400+ names
– ETH + BNB + SOL + now NEAR distribution
Ondo + Alpaca opened an institutional in-kind route where approved institutions can take shares they already own at Alpaca and mint the equivalent Ondo token on ETH/BNB.
TradFi inventory can basically become onchain inventory without first getting sold into cash.
Then they launched BlackRock-powered portfolio tokens, while NEAR Intents gives users another distribution route from 30+ chains.
Ondo is expanding from token issuer → middleware/distribution layer for financial assets.
Weak point is utilization. Almost $1B of stock paper exists but actual DeFi liquidity is still tiny relative to that AUM.
3/ @bstocksfinance is almost the opposite thesis.
– $761M distributed value just ~3 months after launch
– 80 assets, BNB Chain only
– 1.39M holders + $12.9B 30d transfer volume
The weapon here is Binance: hold the brokerage stock → convert 1:1 into the BEP-20 bStock → trade/withdraw/use it on BNB → convert back into Binance Stocks 1:1 with zero fee.
bStocks are already finding their way into @VenusProtocol, @lista_dao, @PancakeSwap and @Aster_DEX + Cross Margin / Portfolio Margin collateral on Binance.
– $98M active in DeFi / ~$550M onchain
Instead of needing every other stock issuer to lose, Binance can just become the liquidity black hole where all the wrappers eventually end up.
4/ @RobinhoodCrypto is the weirdest one because its numbers tell a different story.
– $146M distributed stock-token value
– 1.45M holders + $19B 30d transfer volume, up ~5x MoM
That's more monthly transfer activity than bStocks, xStocks and Ondo individually despite having a fraction of their stock float.
$19B moving against ~$156M float is a stupid amount of turnover.
I've already written about why the RH trenches matter here. Memes/perps/speculation are bringing users + liquidity onto the chain first, while the financial rails get built underneath.
Regulation just made that race more interesting too.
None of these four current products is a US-registered share, and none currently fits the new US rights-preserving tokenized-stock framework as structured today.
We don't own the listed stock, can't vote and can't redeem the token directly into the real share yet.
But @vladtenev already said in-kind redemption + voting are coming.
I have a feeling the next phase of this game will be a lot more fun once more primitives get built around. https://x.com/Okada_DeFi0x/status/2105519578088722827
## @redemptionarcc (Red) · 10-01 02:26 · ♥52 ↻12 💬8 opportunities like this won’t come very often this cycle… $1 for $0.007 staring you in the face
robinhood:0x20024e485c0b22b42855589700721b28320a7777 https://t.co/zTxdgM0uOb https://x.com/redemptionarcc/status/2105484455087595862
## @deltaliquidity (Delta) · 10-01 02:33 · ♥54 ↻5 💬10 That’s why we love building on Robinhood Chain.
More markets are coming onchain, and they all need liquidity behind them. https://t.co/gSLpnJSyHG > 引用 @vladtenev: This is our third HOOD Summit, but the first time we've taken it this far.
We called this one Engines of Creation because that's what markets are.
They take ideas, capital, and people and turn them into things that can grow.
That's what I love about building Robinhood.
The frontier keeps moving. https://x.com/deltaliquidity/status/2105486325499756695
## @FarmerJoe0x (FJ) · 10-01 03:49 · ♥57 ↻3 💬6 I’m going full Yashmode next week.
Every pod, every spaces, every discussion.
Have fun in SG for Token2049, I’ll be taking over the timeline with robinhood:0xaa07a0e9209e16ac99708c3ec70159c6ef3128a3 next week. https://x.com/FarmerJoe0x/status/2105505422358757851
## @ryandcrypto (ryandcrypto) · 10-01 04:35 · ♥56 ↻0 💬7 top $AI holders are all down millions in unrealized pnl
robinhood seeing a real test of conviction https://t.co/nAvyrh114M https://x.com/ryandcrypto/status/2105516977892827617