# RWA — X 热门讨论 (2026-09-26 02:01 UTC)
## @Natan_benish (Nate) · 09-26 01:34 · ♥62 ↻8 💬13 pretty incredible analysis from @Ian_Unsworth and @Kairos_Res
"the main estimate works out to Long being behind roughly a fifth of the ~$160M of stock"
stock pairs on LONG bootstrapped the liquidity network effects of RWAs on Robinhood chain.
-> stock pair holders are effectively market makers of RWAs by just trading spot unlocking meaningful ownership over your order flow (the biggest shift in retail finance since the rise of retail brokerage)
just to give you a sense with rough %: boner(35% of HIMS circ) meme(35% of AMC circ) moo(20% of MU circ) monitor(15% of PLTR circ)
Will add a few things on top of it:
1. The biggest psyops we were fed the last 2 years is that vol is all that matters, it's not! and for RWA liquidity is the real moat.
2. the LONG community is not just bootstrapping RWAs for a day or two but is able to retain the liq with ~10% of RH stock TVL locked in LONG pools.
3. brings me to the other point if you've read my deep dive you prob have a good understanding of price coupling and how arb drives it, LONG pairs create huge invective for market makers and LPs to add more liquidity to stock pools arguably I'd say that the majority of RWA TVL was bootstrapped by LONG almost directly(one day I will run an analysis on it via proximity of trades and LP actions)
LONG. > 引用 @Ian_Unsworth: Pretty wild how @longdotxyz has been one of the main catalysts for bringing tokenized stocks onto @RobinhoodApp Chain, with every $1 of stock that buyers paid into Long pools followed by ~$1.90 of new minting of that same stock within three days and ~$2.80 within a week
That holds after controlling for each stock, each day's market-wide minting, and the stock's normal DEX volume, and buying into Long pools shows no link to minting in the days before it. Even in raw, uncapped data with AMC and SPY left out, it is still ~$1.40 within three days and ~$2 within a week. Scaled across every stock, the main estimate works out to Long being behind roughly a fifth of the ~$160M of stock minted on the chain since July, while pools on other launchpads like Bankr, PONS, and PAIR show a weaker and less consistent link and have released more stock than they absorbed over the same stretch
The clearest examples came from Long's biggest launches, as onchain AMC went from 112,732 shares the day before "A Meme Coin" launched on 09/03 to ~2.9M the day after, HIMS went from 275 shares to ~2,400 in the three days after Boner Coin launched on 08/20 with Long pools absorbing 41% of the new supply, and NVDA supply rose 158% in the week after Artificial Inu launched on 07/14, compared to 35% for the median stock
MONITOR took longer to get going, with PLTR supply up 64% in its first week against 87% for the median stock, but it kept climbing. When @JTLonsdale quote-posted MONITOR on 09/23, its value went from ~$1.1M to ~$10M in under two hours, and its pool traded 1.4x all tokenized PLTR in a single hour, while PLTR supply rose ~11% that day to double its pre-launch level as Long pools took in ~1,250 PLTR, and supply was still ~3% above its pre-post level the next day
Long isn't the whole story, since Long pools hold only ~$14M of the ~$170M of tokenized stock onchain and the size of the estimate depends on capping a cluster of $2M - 7M mint days, mostly in SPY and AMC, that otherwise swamp it, but the pattern is consistent enough to say the Long memecoin trading is pulling new shares onchain rather than just recycling the ones already there
These pairs have also started to attract real social capital, with @vladtenev following "A Meme Coin", @AndrewDudum following "Boner Coin", and @JTLonsdale following + quote-posting MONITOR, all for something that is still relatively nascent
The next catalyst could come from Robinhood itself, since @vladtenev says 1:1 in-kind redemption and voting are coming to Robinhood Stock Tokens, which would give holders a reason to keep shares onchain rather than just trade them
/board_sit https://x.com/Natan_benish/status/2103659522728526044
## @CillionaireMind (CillionaireMind 🧑💻 𝕏) · 09-25 22:49 · ♥50 ↻3 💬14 ethereum:0xfc209eeba3d744aa741cc5c2a73ebf9c977b5f82 was trending on 𝕏 Last week
But wth is Brickken?
@Brickken is building the infrastructure to bring real-world assets onchain, giving institutions the tools to issue, manage, tokenize and scale assets like real estate, funds, private credit and other financial instruments.
And the numbers are already there:
➠ +150 clients ➠ +$660M Total Tokenized Value ➠ +40 countries served ➠ +28M $BKN staked by the community
What gets me more interested is where @Brickken is going next.
It’s not just about tokenizing assets.
Brickken is building the asset and coordination layer for Agentic Capital Markets, where AI agents can work with machine-readable assets, verifiable claims, capital mandates and defined permissions.
RWA brings assets onchain.
Agentic infrastructure makes them usable by the next generation of financial systems.
$BKN https://x.com/CillionaireMind/status/2103617820122882513
## @CryptoFvcker (FXCKER 🧩 (🥅,🥅)) · 09-25 23:10 · ♥44 ↻9 💬2 I think people are still looking at robinhood:0xca9c78dd337a67f6e0077f65f5e9218719d30edf the wrong way. The bull case isn’t “high APY”. It’s the number of economic rails being built around one reserve-backed asset.
robinhood:0xca9c78dd337a67f6e0077f65f5e9218719d30edf started from a tiny ~$50k founding raise.
Today the system has grown into a multi-product onchain economy with: • a permanent 5% AMM trading levy that now flows entirely to reserves • USDG treasury yield through Morpho • protocol-owned liquidity • algorithmic rebases tied to Price/NAV instead of unlimited fixed emissions • buybacks + retirement of NET below NAV • premium sales that monetize excessive upside • Real World Bonds accumulating tokenized equities • wsNET credit markets / Loopback • WinNET • Superstore • CLIMB INC. • COINflip • SpaceX Invaders • MSFT Flight Simulator • TURBO / leveraged tokenized-equity products • Blackjack, prediction/game rails and more
And now there are public hints of an onchain MMORPG in the vein of DeFi Kingdoms.
The important part is that not every product simply prints more NET.
Different rails feed different parts of the flywheel: Treasury → NAV RWA Sleeve → external assets Games → volume / fees / asset demand Credit → wsNET utility POL → deeper liquidity Buybacks → lower supply when NET trades below NAV
Meanwhile management says it bought $518k of NET in the last 7 days and intends to keep buying while the multiple is low.
This is why I don’t see robinhood:0xca9c78dd337a67f6e0077f65f5e9218719d30edf as “another OHM fork”. Olympus proved that a reflexive reserve protocol can scale into the multi-billions.
NetNet is trying to take the OHM primitive and build an actual consumer + financial ecosystem on top of it.
That’s the part I think the market may still be underestimating.
The metric I care about most isn’t APY. It’s: RFV growth vs NET supply growth. If treasury growth, product adoption and liquidity can keep outrunning dilution while more rails come online, the flywheel gets very interesting.
robinhood:0xca9c78dd337a67f6e0077f65f5e9218719d30edf is starting to look less like a token and more like an onchain holding company / financial arcade built around a reserve asset. That’s the thesis. > 引用 @NetNetCap: Shareholders,
Over the last 7 days the NetNet Capital Management Team has purchased $518,490.50 of robinhood:0xca9c78dd337a67f6e0077f65f5e9218719d30edf . We will continue to buy more while the multiple is this low.
More Soon. https://t.co/5z721dvajS https://x.com/CryptoFvcker/status/2103623320138657964
## @cfm_sol (Jeff) · 09-25 17:48 · ♥43 ↻7 💬4 $GO = LESGO Launchpad + Asset Pairing + Platform Revenue Recirculation
D1YZZg9dBZ7AbfknZVbaeVLto36eySwoFYEVhZrD4F4n
Let’s take a closer look: LESGO allows new Tokens to use SOL, USDC, Tokenized Stocks, and other SPL Assets as trading pairs. So compared with a traditional Launchpad, its difference is not simply “launching Tokens,” but that it is trying to build Asset Pairing Infrastructure.
GO value capture is also relatively direct:LESGO Launch → Trading Volume ↑ → Platform Revenue ↑ → 60% Buy GO → Burn → GO Supply ↓
At the same time, the Pair Asset revenue generated from trading is distributed to holders, creating:Token Trading → Fees → Holder Rewards
This is currently the core fundamental of GO.
The market has started paying attention to GO mainly because LESGO’s trading volume and platform activity have begun showing early validation after launch. The screenshot’s statement that “it is similar to PONS, with the platform token leading first” essentially means the market is betting on:
LESGO → Launchpad Growth → GO
If LESGO can eventually become a major Launchpad on Solana, then GO will become the Beta Asset of the platform’s growth.
The market is currently mainly betting on three directions:
1. GO becoming the First Runner of LESGO
If the platform produces a representative project that genuinely moves from several hundred K to $1M, $5M, or even $10M+, it could drive:
Runner → Attention → Platform Volume → Revenue → GO Buyback
2. LESGO evolving from a normal Launchpad into Asset Pairing Infrastructure
The real upside is not simply “another Solana Launchpad,” but:
Meme → SOL / USDC / Tokenized Stock / Other SPL Assets
If arbitrary Pairs can attract new projects and trading volume, LESGO’s positioning could evolve from a Launchpad into Asset Pairing + Token Launch Infrastructure.
3. Meme × RWA / Tokenized Stock
If tokenized stocks such as PLTRX, NVDAX, META X, and GLDX actually generate sustained trading volume on LESGO, GO can connect to the current Meme × RWA × Tokenized Stock Narrative, which could become the biggest potential valuation expansion point going forward.
What really needs to be watched next is:Platform Volume ↑ → Revenue ↑ → GO Buyback / Burn ↑
And:New Projects ↑ → Large Runner Emerges → Tokenized Stock Pair Trading Volume ↑
If these metrics continue growing, GO can gradually evolve from a simple Launchpad Meme into a Revenue-linked Platform Token.
The risks are also clear: Solana Launchpad competition is intense, and “being able to launch Tokens” itself is not a moat. Platform trading volume also does not necessarily equal sustainable revenue or GO value capture. The First Runner has not yet been fully validated.
If Platform Volume declines:Volume ↓ → Revenue ↓ → Buyback ↓ → Burn ↓ → Attention ↓
The reflexivity can work in the opposite direction as well.
So my core understanding of GO is:GO → LESGO → Asset Pairing → More Launches → More Volume → Platform Revenue → Buyback / Burn → GO
The mechanism is already in place, and early trading activity has emerged. But what will truly determine the next stage of valuation is whether LESGO can produce a major Runner, generate sustainable platform revenue, and create real trading demand for Tokenized Stock Pairs.
Chart: https://t.co/1uxAcRMJBS > 引用 @cfm_sol: $GO 8.8m dyor
D1YZZg9dBZ7AbfknZVbaeVLto36eySwoFYEVhZrD4F4n
okx wallet:https://t.co/3RfSsenyMR
A meme coin launch platform built on Raydium LaunchLab.
Users can launch a token in minutes without writing code. It supports pairing with SOL, USDC, tokenized stocks, or any other SPL token. After launch, the token first goes through a bonding curve. Once the target is reached, it automatically graduates to a locked-liquidity Raydium or Meteora pool. Creators cannot pull the pool, change the supply, or change the fees.
The platform has already launched 400+ tokens, with cumulative trading volume of approximately $27M to $30M.
Fees: Bonding curve: 1.25% buy/sell (platform 0.5%, creator 0.5%, Raydium 0.25%). Burn + Rewards type (most tokens): an additional 1% or 3% transfer tax, automatically burned by a dedicated burn program. After graduation, a portion of the pool's trading fees goes to holders. Holder rewards: The portion of trading fees belonging to the creator platform is automatically distributed to holders in the form of the paired asset, based on their holding proportion. Burns: Transfer taxes and a portion of pool fees are burned by the burn program, reducing circulating supply.
GO is the platform token, whose main role is a deflationary flywheel: 60% of platform revenue generated by all launched tokens is automatically used to buy back and burn GO through Jupiter. So far, approximately 65M GO has been bought back and burned, with the remaining 40% going to the platform. https://x.com/cfm_sol/status/2103542287443931208
## @beka_web3 (₿εKα) · 09-25 18:39 · ♥47 ↻0 💬0 🚨 BIG for sui:native
@Bitwise is launching a leveraged RWA vault targeting 10%+ net yield and the vault’s assets can be used as collateral on @bluefinapp Lend on Sui.
This is exactly the kind of institutional RWA + DeFi infrastructure that could make Sui increasingly important in the tokenized-asset economy.
@SuiNetwork let’s go! 🚀 https://x.com/beka_web3/status/2103554976546967827