Robinhood just proved that having tens of millions of retail accounts is one heck of a distribution advantage. The company’s new blockchain, Robinhood Chain, blew past 50,000 daily active users within days of its July 1 public mainnet launch, eclipsing Tempo, the Stripe-incubated Layer-1 that went live back in March.
The numbers tell a pretty clear story. Over 100,000 weekly active users, roughly 1.7 million daily transactions, and DEX trading volumes ranging from $400 million to $570 million in the opening week alone.
The economics are already working
Daily revenue jumped from approximately $4,000 to around $39,000 within the first week of operations. That translates to an annualized run rate of roughly $14 million.
The chain is built on Arbitrum technology, essentially functioning as an Ethereum Layer-2 that inherits Ethereum’s security while offering faster and cheaper transactions.
