Robinhood Chain Surges Past $1B in TVL with Uniswap Partnership

Robinhood's blockchain, called Robinhood Chain, is rapidly gaining traction. According to Standard Chartered analyst Geoffrey Kendrick, the platform has reached nearly $1 billion in total value locked (TVL), which he described as the fastest growth of any blockchain by that measure.

The growth can be attributed to a partnership with Uniswap, which provides Robinhood Chain with established decentralized finance infrastructure. This allows Robinhood to access liquidity without having to build it from scratch.

Virtually all of Robinhood Chain's liquidity needs are being met through Uniswap V2, V3 and V4, Kendrick said. The partnership is also having a significant impact on Uniswap's token economics. Protocol fees generated through Robinhood are now the largest source of UNI token burns.

Since a Robinhood-linked fee switch was activated on July 27, the UNI burn rate has roughly doubled, reaching an annualized pace of about $90 million. At UNI's current price of roughly $3.50 apiece, that would translate to 25 million UNI tokens, or just over 4% of the circulating supply, being burned annually.