Robinhood Chain reached over $100 million in total value locked less than a week after launching, marking a strong start for its new AI-focused layer-2 blockchain. DeFiLlama data shows the network’s TVL hit about $106 million by July 8, mostly due to decentralized lending instead of tokenized stocks. Most of this value is in one lending protocol, which suggests that institutional investors have been more active than retail users so far.
Robinhood Chain, built on Arbitrum’s Orbit technology, launched on July 1 with several blockchain-based financial products. These include tokenized stock trading, perpetual futures, and Robinhood Earn, a yield product powered by the Morpho lending protocol. The company wants to blend traditional financial assets with blockchain, giving users access to on-chain investing through familiar products.
While reaching this TVL is a big achievement for a new blockchain, the way funds are spread out is telling. About $90 million is locked in Morpho, while Uniswap holds around $13 million. Other apps, like prediction markets and memecoin launchpads, have only a small part of the remaining funds.
A lot of the recent growth came from the DeFi protocol Ethena, which put about $50 million into a USDG lending vault managed by Morpho. This shows that early liquidity has mostly come from professional DeFi users looking for yield, rather than Robinhood’s wider customer base.
Robinhood is promoting its blockchain as a platform for real-world assets like tokenized stocks, investment funds, and eventually private company shares. But because the network is open to everyone, it has also attracted speculative projects like memecoin launchpads and prediction markets. CEO Vlad Tenev recently admitted this, saying that while Robinhood Chain is meant for RWAs, “it works great for memes too.”
While we’re building robinhood chain to be the best chain for RWA … it works great for memes too
— Vlad Tenev (@vladtenev) July 8, 2026
The project still has some challenges. Its tokenized stock products give price exposure but don’t provide actual ownership rights, which has drawn regulatory attention. The network also depends on a single sequencer controlled by Robinhood, raising concerns about decentralization.
Still, reaching $100 million in TVL just days after launch shows rising interest in blockchain-based financial systems. The next step will be to see if Robinhood can turn its large retail customer base into long-term on-chain users once the early incentives end.
Source: Defillama.com
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