# Robinhood Chain liquidity — X 热门讨论 (2026-09-12 11:08 UTC)
## @OxSimpleFarmer (SimpleFarmer) · 09-12 08:00 · ♥164 ↻46 💬30 What if any token on any chain could become a Robinhood Chain meme stock?
Another insanely strong piece of infra developed by the StonkBrokers Special Projects Program.
Tickeryard just created CROP, powered by @chainlink CCIP, which allows anyone to take their token from any chain and create an escrowed version of that token on Robinhood Chain.
This product essentially works like a permissionless version of Sunrise. If you have a token on Solana,Base or any supported chain, and don’t want to go through the hassle of setting up a clean, supply-bridged version using LayerZero, you can simply go to Tickeryard with your treasury, bridge a percentage of the supply to Robinhood Chain, and create your own route.
That route will then monetize for you, as you earn a fee on every bridge, while allowing you to pair your token by liquidity instantly with any Robinhood Chain token or stock token.
Essentially allowing any token on any chain to become a RobinHood chain meme stock.
Next level stuff > 引用 @TickerYardHQ: Introducing CROP + UI V2 🌱
Create routes bringing tokens from Solana, Ethereum, Hyperliquid, Base, Arbitrum, BNB Chain and Monad to Robinhood Chain and earn a share of the fees when people use your routes.
Then trade CROP tokens, yBTC and YARD with swaps, limit orders and TWAP in our new trading experience.
Your route. More trading possibilities.
https://t.co/5s76z8VaoJ https://x.com/OxSimpleFarmer/status/2098683175383740780
## @Tanaka_L2 (Tanaka) · 09-12 07:12 · ♥97 ↻2 💬31 Stablecoin Competition Is Shifting from Issuance to Distribution.
After comparing USDT, USDC, USDG and PYUSD, I see 4 very different monetization models emerging.
[1] USDT: distribution through network effects
USDT built its position early and became the main quote asset across crypto markets.
In July, USDT pairs accounted for 73.5% of spot volume on major CEXs.
That liquidity already gives exchanges, OTC desks and payment providers several ways to earn through trading fees, conversion spreads and remittances.
@tether does not need to aggressively share its reserve income to secure distribution.
The demand itself attracts distributors.
That helps explain why Tether generated around $1.5B in net operating profit in Q2, mainly from managing USDT reserves.
[2] USDC: distribution through one core partner
@circle entered after USDT had already built strong network effects, so it chose a different model.
Circle handles issuance, reserves, compliance and infrastructure.
Coinbase provides the distribution.
USDC reaches users through the Coinbase exchange, custody products, rewards, Base, payments and external platforms such as Shopify, Hyperliquid and Morpho.
This distribution is effective, but expensive.
Circle generated roughly $701M in revenue and reserve income in Q2, while Coinbase-related distribution costs reached about $325M.
I see this as more than a simple partnership expense.
Circle is using reserve income to buy deeper integration, larger balances and more USDC activity.
[3] USDG: distribution through shared economics
Global Dollar Network extends this model across many partners.
@Paxos handles USDG issuance and reserve management.
Kraken, OKX, Robinhood, Worldpay and other participants provide users, liquidity, payments infrastructure and on-chain use cases.
The incentive is direct: network partners receive most of the reserve income generated by the USDG they distribute.
GDN said it distributed more than 90% of this income to partners in 2025.
USDG is therefore designed around shared economics from the start.
Instead of keeping most reserve income at the issuer level, the network uses it to make exchanges, fintechs and payment companies active distributors.
[4] PYUSD: distribution through an existing payments network
@PayPal already owns the consumer and merchant relationships that most issuers need to acquire.
Paxos provides the issuance infrastructure, while PayPal distributes PYUSD through PayPal, Venmo, merchant settlement and Xoom remittances.
This lets PayPal offer incentives directly to users and merchants without relying on a separate core distributor.
It can earn from PYUSD reserves while also increasing activity across payments, FX and remittances.
That makes PYUSD part of PayPal’s existing financial business, not just another stablecoin listed inside its app.
Issuing a regulated dollar token will become easier and less differentiated.
Building liquidity, integrations and repeat usage will remain difficult.
This matters even more when interest rates decline. Reserve income per stablecoin falls, while rewards and distribution costs do not necessarily fall at the same speed.
This is where my raw thesis becomes more interesting.
I do not think distribution partners will treat every stablecoin equally.
They will prioritize the stablecoin that contributes the most value to their own products and users.
USDG on Robinhood Chain is a good example.
@RobinhoodCrypto already has real momentum:
– DeFi TVL has reached roughly $633M
– Stablecoin supply is around $750M
– Bridged TVL has passed $2.1B
– Weekly DEX volume recently reached $4.24B
– Weekly perp volume increased to roughly $2.44B
USDG is therefore entering an ecosystem where capital and trading activity already exist.
The revenue-sharing model gives Robinhood an economic reason to increase USDG holdings and integrate it across Robinhood Chain, Earn and other financial products.
If USDG becomes more widely used as DEX liquidity, lending deposits, trading collateral or a settlement asset, Robinhood can benefit in two ways:
It can receive part of the reserve income while also generating more activity across its own ecosystem.
Users may then receive part of that value through rewards or better product terms.
This is why I think USDG could be more effective on Robinhood than on a platform that simply lists it.
Distribution is no longer a cost added after issuance. It is built directly into the economics of the stablecoin. https://x.com/Tanaka_L2/status/2098671079531352466