Deepstate DEX Launches on Robinhood Chain Next Week

Joseph DeLong, former CTO of SushiSwap, is launching an order book decentralized exchange (DEX) called Deepstate on Robinhood Chain next week. The project started as a side hustle alongside his stablecoin card startup Colossus, but has grown beyond its initial scope.

'I have a decentralized exchange side project that outgrew nights and weekends,' DeLong said, confirming plans to deploy on Robinhood's Arbitrum-based Layer-2 network.

Robinhood Chain launched on July 1, 2026, and achieved $3.1 billion in DEX volume within its first week, with over 65,000 active users and $13 million in tokenized stock trading.

Deepstate's order book model will match buyers and sellers directly at specific prices, unlike most DEXs which use automated market makers (AMM). This approach can offer tighter spreads and more precise execution, but requires a critical mass of traders to avoid thin order books.