BONER Squeezes Real-World Equity Tokens on Robinhood Chain

A memecoin called BONER has cornered 81% of the tokenized HIMS stock supply on Robinhood Chain, causing a float squeeze for real-world equity tokens.

BONER launched as a trading pair directly against the HIMS token on July 28, after Robinhood Chain added HIMS to its platform in an expansion. The mechanics are straightforward: when someone buys BONER, they deposit HIMS into a liquidity pool.

The result is a situation where the available supply of HIMS tokens shrinks dramatically, distorting normal price discovery. With most of the tokenized HIMS supply locked in liquidity pools paired with a memecoin, traders looking to buy or sell HIMS on Robinhood Chain face thinner order books and potentially wider spreads.

The BONER/HIMS trading pair has driven $5.9 million in volume, accounting for more than two-thirds of total RWA trading on the platform as of late July 2026. The remaining $2.8 million in RWA volume is spread across every other tokenized asset on the chain combined.