# Robinhood Chain liquidity — X 热门讨论 (2026-09-25 03:39 UTC)
## @eth_cedric (Cedric 🦋) · 09-23 20:21 · ♥252 ↻34 💬91 过去 30 天，Flap 协议累计向 Flap 发行代币的交易用户分发了 $13.6M 持有者奖励，并向 DEX LP 添加了 $115K 流动性，共有 $22.96M fee 流向社区和金库。
其中： BNB Chain：$22.23M Robinhood Chain：$733K
你不需要参加活动，也不需要完成任务。 只需要使用 Flap。
In the past 30 days, the Flap protocol distributed $13.6M in holder rewards to users trading tokens launched on Flap, added $115K in liquidity to tokens' DEX LPs, and directed a total of $22.96M in fees to communities and vaults.
Breakdown: BNB Chain: $22.23M Robinhood Chain: $733K
No campaign. No tasks. Just use Flap. https://x.com/eth_cedric/status/2102855944979833315
## @0xSammy (0xSammy) · 09-24 07:23 · ♥219 ↻16 💬41 People are underestimating how important liquidity is for RWAs
Tokenizing an asset is the “easy” part… but building enough market depth that serious size can enter or exit without moving the price against itself
That’s why I’m increasingly focused on protocols explicitly designed to solve the liquidity bottleneck on Robinhood Chain:
1) @longdotxyz (AI MC; $234m) turn activity into permanently locked stock liquidity
LONG pairs assets directly against tokenized stocks rather than ETH/stables
This is important because demand for the paired asset directly creates trading volume and liquidity for the stock itself
Stock tokens accumulated in LONG pools are permanently locked, while fees/community vaults can compound further stock exposure over time
It effectively uses speculation as a distribution and liquidity engine for RWAs
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2) @standard_rsv ($19.6m): use the protocol balance sheet as a market maker
Standard’s second mandate is structurally different… Instead of waiting for third-party LPs, it wants to deploy its own reserve capital into stock-token markets, seed depth, attract additional liquidity and earn fees from the resulting order flow
Those fees can then feed back into the reserve and finance deeper or additional markets
In other words, the treasury becomes productive market-making capital rather than passive NAV
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3) @shroom_network ($15.7m) create a common liquidity layer across stocks
SHROOM is building a “hub-and-spoke” model by pairing itself against major stock tokens
Instead of every stock needing completely isolated liquidity, SHROOM becomes a common routing asset between markets
The protocol owns the liquidity, captures fees from volume and price dislocations across the network, with treasury LP fees ultimately flowing into SHROOM buybacks/burns
More stocks = more routes = more volume = more fees = potentially deeper network liquidity
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Three different approaches to the same problem:
i) LONG turns attention into stock liquidity
ii) STANDARD turns treasury capital into stock liquidity
iii) SHROOM turns fragmented stock liquidity into a connected network
If RWAs are going to handle genuinely large flows onchain, this layer matters just as much as the assets themselves > 引用 @Natan_benish: Wanted to run a proper tweet where I cover many questions regarding LONG. Bookmark this, it’s going to be quite in depth.
Before I start, I want to clarify that this is an educational effort. One of our core values with LONG is not to look down on our users but actually equip them with the right knowledge and prove another type of playbook can exist in the space.
There is no reason for us to be defensive(esp not on tech) LONG proves itself every day and we will keep doing so. I also think there is a fine line between slightly disingenuous FUD vs critical thinking, so pay attention to it as well.
#1 Why is LONG optimizing for liquidity as the moat with stock pairs and generally?
Main problem in the space = not lack of motion but lack of stability (that drives rotation and lack of conviction)
Deep liquidity solves two things: bundling and supply control are very expensive + the market can absorb extreme periods of volatility.
Deep stock liquidity creates a black hole or a magnet where a LONG pair effectively becomes a secondary market for the tokenized stock and keeps a high % of circ (demonstrated in many pairs)
This is the biggest pure “DeFi” flywheel and is similar to how network effects evolve around lending protocols, DEXs like Uniswap and so on. Stock liquidity is a moat that enables users to become “market makers” and share the upside of any downstream effect coming from it (increased trading activity on the stock itself, any new utilities like lending, and simply being a source for arb)
#2 How exactly are stock pairs correlated with their underlying stocks?
DEX pairs have a sell side and a buy side. With stock pairs, the buy side is the new token and the sell side is the tokenized stock. When the stock goes up, the USD value of stock liquidity goes along with it. This is exactly how majors were able to bootstrap the trenches in the early days of Sol + ETH. The major or stock going up = the Fed printing new money supply or giving stimulus.
In practice:
- If the stock went up by 20%, there is now 1.2x more stock liquidity in the pool, so selling the same token amount will give 1.2x more in USD value(rule of thumb)
- This also means the impact on the chart is becoming smoother
- What makes it more impactful is the depth of liquidity. If it’s 10k worth of total stock liquidity, it wouldn't matter because a 5k trade will drain the pool completely
-LONG pairs are not just super liquid generally, they are also ranked as the largest sources of stock liq for the tokenized stock pools(AI is the 2nd largest source of NVDA on RH)
#3 Two sides of the same coin: How do arbitrage and price coupling actually play out onchain when the stock price rises?
Something VERY important to keep in mind. AI priced in NVDA and NVDA priced in AI are two sides of the same coin. You can’t have a significant depeg between the implied price of NVDA in AI vs NVDA in USDG, and the same applies to AI in NVDA vs AI in USDG.
Take the following scenario: NVDA just went up by 5%, the oracle updates immediately, and now there are 2 sec for the new NVDA price to update onchain. An arb race starts:
1. Arb starts with buying AI on the AI/USDG pool (front-running on a stale NVDA price)
2. AI is being sold on the AI/NVDA pool, receiving NVDA
3. The arb bot now holds X NVDA they bought at a discount
4. The arb profit depends on how fast they can sell it on the updated NVDA/USDG pool + an optimized sell size
This is a bit of a simplistic flow because, in effect, this is happening 24/7 and AI/NVDA is effectively a coordination mech to keep prices in sync.
The more NVDA liq there is on the AI/NVDA pool, the more predictable this arb can be and the more “utility” builds into AI/NVDA just by being a large source of liq. This is not simple reflexivity but more of a compounding long-term game.
Exactly the same effect takes place when NVDA dumps, but in this case it’s actually helping the AI (USD price) absorb volatility in a much smoother way (happened a few weeks ago when NVDA had the 1st 7d down streak since ‘22 and AI actually went up)
one can think about what might happen when we drop the assumption that the price of onchain NVDA or any stock follows the stock market, and the price of onchain NVDA is actually driving the arb offchain (I’ll leave it as an exercise for the readers)
#4 The LONG term game is dist >> fee capture/dividend
The only way for an asset like AI to go up is having consistent flows of net new marginal buyers that are willing to buy at a higher price. This is typical growth. Every single incentive we can place on top of it gets stronger when the asset becomes bigger.
A good way to think about it is stock dividends. An early-stage stock that starts handing out dividends over reinvesting into higher growth is simply sacrificing these gains.
Having an asset like AI at 1b would be correlated with the ability to capture more value back to holders, whether through “dividends”, voting rights or NVDA accumulation. It won’t necessarily be a 50% APY but more similar to 1-3%, with real size (NVDA did 6b in dividends last quarter and it was just $0.25 per share)
#5 Why do AI pools with USDG and ETH have so much vol and is it good?
Part of it goes back to my prev point regarding arb, the other part is also all sorts of AI pairs.
Having an AI/AI-pair makes it cheaper to go from USDG→AI→pair vs USDG→NVDA→AI→pair.
A few immediate positive effects:
1. We already internalize this effect with AI pairs as fees remove more AI from circ regardless of whether it was routed via the main AI/NVDA pool. It also locks more AI in uncorrelated pools
2. More vol = more fees to external LPs = higher incentive to provide more liq to back AI on any pool
There is no perfect fee/hook that can fully eliminate it (and it might be undesirable) for two reasons:
1. If we were to relaunch AI with 0.15%, anyone can still set up a pool with a 0.1% fee. These undercuts are very common and it’s a race to the bottom type of situation
2. You need extremely centralized and active LP management. I don’t think anyone would have wanted LONG or any launcher to have the option to just rug the entire LP
#6 Is it possible to 10x NVDA accumulation or have more fee and vol capture ?
Yes! Take, for example, some of our more active LP actions: we’ve added 200k worth of NVDA as a sell wall on the AI/NVDA pool. Yesterday we did something similar with 200k worth of LongX assets. Adding these into the community vault, for example, would have increased the total NVDA worth by 2x.
There are dozens of other ways to do it with more sophisticated mechs. And it reminds me of the early days of the vault when users asked why we didn’t just use a buyback vault instead.
This goes back to my prev point: the potential of monetization via fees is capped by the size of the asset. Anything we can do today to grow AI will pay 10x more in the future when we would want to start rolling it out.
#7 “If you don’t know where the yield is coming from, you are the yield” Why is LONG not supporting reflections out of the box?
Note that all of the prev points about how easy it is to undercut high-tax pools, how liquidity capture is the moat, and how organic non-incentivized growth is the real key apply even more strongly to the typical reflection mech.
We think the sort of DeFi summer APY maxxing is a not part of our vision of stock pairs. We want users to buy early and hold, not because they can farm fees (which can be done on any yield-style protocol even a stable pair)
We want them to buy and hold because they want to align with the stock and grow a movement around it.
Generally:
High-yield products in crypto have ended up dying
The PMF for yield is actually super solid yield (the biggest vault on RH is USDG with 3% APY)
I think this is a bit like creator fees. Incentivized vol over sustainability, and it’s so damn easy to just buy 20% at low FDV and have a no-lose option forever, then dump to move to the next as vol decays.
Hope you were able to go through it! :)
LONG. https://x.com/0xSammy/status/2103022603212394729
## @Crappy_Max (Crappy Max) · 09-24 12:39 · ♥116 ↻1 💬149 Robinhood Chain is only ~85 days old.
Yet the activity is already wild. 👀
• 9.3M daily txs • 405K daily active addresses • $1.07B stablecoin supply — ATH • $1.8B 24h DEX volume • $60B cumulative DEX volume • 750M+ lifetime txs • ~194 Stock Tokens live
The more interesting story, though, is what’s forming around it:
Tokenized stocks + DeFi + memes.
10 projects worth watching:
1. @Uniswap — primary AMM and major liquidity route. 2. @ponsdotfamily — native launchpad that captured a huge chunk of the memecoin activity. 3. @morpho — lending backbone behind Robinhood Earn / USDG vaults and the chain’s largest TVL. 4. @Lighter_xyz — perps venue integrated with Robinhood Wallet. 5. Robinhood Stock Tokens — NVDA, AAPL, TSLA and others bringing traditional equities onchain. 6. @chainlink — oracle infrastructure for stock-token and DeFi pricing. 7. @arcus_xyz — spot/perps venue connected to the dYdX ecosystem. 8. $CASHCAT — early breakout meme, now listed in the Robinhood app. 9. $AI / Artificial Inu — one of the larger native memes, including pairs against tokenized NVDA. 10. @longdotxyz / $BOW — experimenting with credit and token launches around Stock Tokens.
Honorable mentions: Twofold, Rialto, The Index, SLVR, SHROOM.
The bigger thesis is simple:
Robinhood Chain isn’t just putting stocks onchain.
It’s starting to build an ecosystem around them.
Stocks bring the assets. DeFi gives them utility. Memes bring speculation and liquidity.
Still very early, and a lot of the activity is speculative.
The sequencer is centralized, and Robinhood Wallet’s gas subsidy ends Sept. 29.
But this is definitely a chain I’d keep on the radar. 👀
NFA. https://x.com/Crappy_Max/status/2103102091996655700
## @Fluxxy_123 (FluxX ⚡️) · 09-24 05:32 · ♥90 ↻43 💬62 Note Systems: Bringing Structured Products On-Chain https://x.com/Fluxxy_123/status/2102994499970433252
## @NextGenEmmanuel (𝗘𝗺𝗺𝗮𝗻𝘂𝗲𝗹🔅) · 09-24 07:06 · ♥81 ↻25 💬64 The Missing Layer Between Tokenized Stocks and On-Chain Structured Finance https://x.com/NextGenEmmanuel/status/2103018187671380089
## @PDmytriiev (Petro D. | Research) · 09-23 21:15 · ♥103 ↻19 💬9 Derive: The Frontier Trade in Onchain Options https://x.com/PDmytriiev/status/2102869545262236022