# Robinhood Chain launchpad — X 热门讨论 (2026-09-29 20:14 UTC)
## @ashrobin (Ash Robin) · 09-29 15:40 · ♥131 ↻4 💬66 I need someone smarter than me (or dumber) to explain this to me here
I want to have a discussion on why $PONS went to 950 million marketcap, with no dips along the way, while having essentially no runners at all?
was it simply because as long as there is high comparable revenue to competitors, it doesn't matter if the coins launched on the launchpad have any sustainability?
or did the numbers not even matter because it was just getting an unlimited twap from Robinhood and market makers?
the reason I bring this comparison up is because $STONK, which has multiple coins above 10 million marketcap, has produced more major runners, and has a unique launch experience, has been going down only for a week now despite having decent runners
then $PAID went to 50 million marketcap all because of one singular runner that went to 20 million marketcap
if launchpads need new runners and consistent daily revenue for a buyer to care about it, then why does it matter for one coin but it doesn't matter for the other?
or does the market not care about runners and the only thing that matters is new launch stats and high daily revenue numbers?
I've been thinking about this a lot over the past week because I want to better understand how the market chooses to price things in 2026
everyone pretends to care about the daily revenue and metrics and rate of buybacks for coins that are linked to a platform
do metrics, revenue, launches, buybacks even REALLY matter?
do people even actually care about "owning the casino"? or do they just want to own the longest standing casino (HYPE and PUMP)
here's why I think PONS did well, so correct me if I'm wrong:
1) it was first mover on a new chain and had a founder who didn't rug 2) Robinhood needed its "pumpfun" and the chain chose to support PONS with an unlimited twap since it was the #1 launchpad coin 3) there was no other launchpad competition on Robinhood with a coin
so was it basically just strong daily revenue, a good amount of new pair launches on a daily basis, and a Robinhood listing that sent it to almost a billion?
and the fact that no one came close to competing with them outside of LONG (who doesn't have a token)?
moving forward, will people actually care about revenue or will they just pretend to care about it?
I know I asked a bunch of questions here, but as someone who likes to learn I want to understand what people care about and why they care about it https://x.com/ashrobin/status/2104959610352283692
## @gkisokay (Graeme) · 09-29 09:43 · ♥95 ↻7 💬14 Long and $AI are the ceiling for Memefi.
Stonk was just a catch-up trade for Solana. Although fundamentally different, the Stonk eco can't thrive unless AI and @longdotxyz move first.
AI is the de facto Long token, so Long’s growth feeds directly into AI’s narrative. And the next catalyst for both likely comes from Robinhood itself.
With the Hood Summit today, shortly after regulatory developments around tokenized stocks, onchain voting rights, and derivatives, we are all waiting for the main character to make the next move.
The truth is, Vlad and Robinhood started this onchain summer pump with their talks of memes and RWAs. Solana, Base, and others are just beta plays. If Vlad and company are the true leaders, they will make the next move.
Vlad has been on a press tour recently, talking about the growth of stock derivatives in the market as something they did not expect. I suspect this was a white lie. I think they knew what they were doing. They knew that meme LPs would bootstrap the liquidity required to make their chain more attractive.
According to @Kairos_Res, every $1 of stock paid into Long pools was followed by roughly $1.90 of new minting of that same stock within three days, and $2.80 within a week. Kairos estimates Long was behind roughly a fifth of the ~$160M in stock minted on the chain since July. Don’t you think that’s significant to Robinhood’s mission?
Vlad can go into meetings and on air and say, “Hey, look at how much we’ve grown in such a short time.”
While Stonk primarily gives away its fees, Long compounds liquidity and strengthens the RWA chain. Perhaps it’s in Robinhood’s best interest to support and grow the very launchpad that helps them reach their ultimate goals.
Maybe they already have.
We know top projects have NDAs with Robinhood right now, as Al Dunlap of NET confirmed yesterday. It wouldn’t surprise me if @Natan_benish and his team were also under an NDA, knowing what may come next.
Something is brewing behind the scenes; I just can’t prove it yet. https://x.com/gkisokay/status/2104869659317252353