- Robinhood Chain is nearing $1 billion in TVL, with Uniswap supplying most of its liquidity.
- The partnership has also pushed UNI burns to an annualized $90 million as Robinhood expands its blockchain strategy.
Robinhood Chain is nearing $1 billion in total value locked (TVL) as its partnership with Uniswap helps the blockchain build liquidity quickly. Standard Chartered says the arrangement could remove a major barrier to attracting users and assets.
Robinhood Chain TVL Surges Toward $1 Billion
According to Standard Chartered analyst Geoffrey Kendrick, Robinhood Chain has reached nearly $1 billion in TVL. He described the growth as the fastest seen among blockchains by this measure.
Uniswap is playing a major role in Robinhood Chain’s liquidity strategy. Kendrick said nearly all of the blockchain’s liquidity needs are being handled through Uniswap V2, V3 and V4.
The partnership gives Robinhood access to established decentralized finance infrastructure. This allows the company to scale its blockchain without building its liquidity base entirely from scratch.
Robinhood Chain launched on July 1 with a focus on bringing real-world assets onchain. Adoption also picked up quickly, with daily active users reaching 194,000 during its first week.
Robinhood Partnership Boosts UNI Burns
The deal is also affecting Uniswap’s token economics. Standard Chartered said fees generated through Robinhood Chain have become the largest source of UNI token burns.
The UNI burn rate has nearly doubled since a Robinhood-linked fee switch was activated on July 27. The burn rate now stands at an annualized pace of about $90 million.
At a UNI price of around $3.50, that figure would equal roughly 25 million UNI tokens burned each year. This represents slightly more than 4% of UNI’s circulating supply.
The development could increase attention on Uniswap as Robinhood Chain expands its activity.
Robinhood Expands Its Crypto Strategy
Robinhood Chain is part of Robinhood’s broader move into blockchain-based services. The company is expanding beyond traditional stock trading into crypto, prediction markets and tokenization.
The strategy has attracted attention from Wall Street. Bernstein analysts recently raised their price target for Robinhood shares to $160 and pointed to tokenization and prediction markets as key growth areas.
Robinhood’s shares also gained more than 4% on Thursday, extending their six-month gains to nearly 30%.
However, the company’s crypto business has shown mixed results. Robinhood reported record revenue and earnings in the second quarter, while crypto trading volumes and revenue declined.
Robinhood Chain’s rapid TVL growth now gives the company another route to expand its blockchain and tokenization ambitions. Its growing reliance on Uniswap also highlights the importance of established DeFi liquidity as Robinhood seeks to attract more users and assets.
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