Robinhood Chain DEX Volume Hits Record $989 Million as TVL Doubles to $708 Million

On-chain activity on Robinhood Chain is accelerating, with decentralized exchange volume and total value locked both reaching record highs.

The Block reported on August 31 that daily DEX volume on Robinhood Chain hit an all-time high of $989 million on August 28. TVL also climbed to a record $708 million, roughly double its level a month earlier. Stablecoin supply on the network increased 47% over the same period to about $770 million.

The tokens driving trading activity have also changed. In July, meme-coin trading led the market after CASHCAT surged and gained a Robinhood spot listing. In August, attention widened to utility and infrastructure projects.

PONS, one of Robinhood Chain's main token issuance platforms, was a leading example. Its market capitalization rose more than tenfold in August, from $20 million to more than $200 million.

Another major launchpad, LONG (long.xyz), supports the issuance of tokens tied to tokenized stocks. One trading strategy pairs meme coins with tokenized equities, a structure that has become one of Robinhood Chain's key distinguishing features.

Artificial Inu (AI), issued on LONG, is a prominent example. The token is paired with tokenized Nvidia stock, NVDA. AI's market capitalization jumped from $1.5 million on August 1 to as much as $135 million on August 30. Liquidity in the AI-NVDA pool stood at about $3.3 million, more than three times that of the AI-WETH pool.

Meme coins linked to tokenized stocks now account for about 25% of all stock-linked trading volume on Robinhood Chain.

Other utility-related projects also posted sharp gains in August. They include liquidity layer protocol Delta, UP, which uses a ve(3,3) model similar to Aerodrome on Base, and NetNet, a bonding project modeled on OlympusDAO (OHM). Their valuations each increased by about tenfold during the month.