Robinhood Chain Hits $791 M TVL in Two Months, Outpacing Solana on Revenue and Users

Robinhood Chain, the new Layer 2 built on Arbitrum Orbit, has shown rapid growth since its July 1 launch. In just two months the chain amassed $791 million in total value locked (TVL), generated more daily revenue than Solana, and overtook Base in daily active users.

Key Metrics

• TVL grew from $4 million at genesis to $791 million by early September.
• Daily revenue reached $4.01 million on September 2, compared with Solana’s $78 thousand on the same day.
• Cumulative DEX volume exceeded $47 billion, with Uniswap as the primary trading venue.
• Tokenized‑stock trading hit $4.3 billion in 30‑day volume, with an $85 million daily peak on August 25.
• Memecoin launchpad Pons generated $500 million per day in volume, surpassing Pump.fun since August 29.

Distribution Advantage

Robinhood leverages its existing brokerage base of 24 million users, a native wallet, and zero‑friction bridging to drive on‑chain activity. Users can move from checking a stock portfolio to trading tokenized equities or memecoins without downloading a separate wallet or paying gas fees during the initial 90‑day subsidy period.

Product Landscape

The chain hosts a tokenized‑stock product that requires a brokerage license, giving it a unique offering among Layer 2 solutions. Uniswap Labs acquired the Pons launchpad to align the dominant DEX with the primary source of speculative retail traffic.

Comparison with Solana

Solana continues to host a large developer ecosystem, $5.9 billion in TVL, and over $16 billion in stablecoins. However, its retail onboarding remains more complex, requiring separate wallets, bridges and gas fee management. Robinhood Chain’s integrated approach has translated into higher revenue and user activity despite its shorter operating history.

Future Outlook

The chain’s 90‑day gas subsidy ends on September 29, raising questions about sustained activity once users face transaction fees. The outcome will depend on user retention, product expansion and the ability to maintain its distribution edge.