Standard Chartered · Cointelegraph
Robinhood Chain nears $1 billion TVL as Uniswap drives liquidity: Standard Chartered
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Standard Chartered said Robinhood’s Uniswap integration could solve a key challenge for new blockchains while accelerating UNI token burns.
Key facts
- In a recent note, Standard Chartered analyst Geoffrey Kendrick said Robinhood Chain has grown to nearly $1 billion in total value locked (TVL), which he described as the fastest growth of any
- The UNI burn rate has roughly doubled since a Robinhood-linked fee switch was activated on July 27, reaching an annualized pace of about $90 million
- HOOD shares were up more than 4% on Thursday, extending six-month gains to almost 30%
- Robinhood Chain launched on July 1 with a focus on bringing real-world assets onchain
Summary
Robinhood’s partnership with Uniswap is helping the brokerage rapidly build liquidity on its new blockchain, potentially removing a key obstacle to attracting users and assets, according to Standard Chartered. In a recent note, Standard Chartered analyst Geoffrey Kendrick said Robinhood Chain has grown to nearly $1 billion in total value locked (TVL), which he described as the fastest growth of any blockchain by that measure. The arrangement gives Robinhood access to established decentralized finance infrastructure as it scales its blockchain, potentially strengthening its ability to attract users without having to build liquidity from scratch. The partnership is also having a significant impact on Uniswap’s token economics.