Robinhood’s blockchain experiment just had the kind of first week most chains dream about. The stablecoin supply on Robinhood Chain, the company’s Ethereum Layer-2 network, has blown past $270 million, roughly doubling in the span of seven days.
How $270M showed up this fast
The bulk of the stablecoin growth comes from USDG, a USD-pegged token issued by Paxos. Shortly after the mainnet launch, USDG supply on the chain sat at approximately $212 million. Within a week, that figure climbed to the $260M to $270M range, representing growth somewhere between 100% and 155% depending on the exact starting point.
Robinhood rolled out a product called Robinhood Earn, a decentralized lending offering that dangles roughly 7% annual percentage yield on USDG deposits. The yield comes through Morpho vaults, and the product is backed by Lloyd’s of London insurance.
ETH holdings on Robinhood Chain increased by roughly 5x since launch, while Uniswap trading volume on the network exceeded $500 million in a single day.
