Uniswap Dominates Tokenized Equity Market on Robinhood Chain

Robinhood Chain's tokenized equities market has seen explosive growth since its launch in July, with over $10.4 billion in spot DEX volume generated by stock tokens in just 30 days.

The majority of this activity took place on Uniswap, which emerged as the dominant DeFi venue for trading Robinhood-issued assets. In fact, Uniswap accounted for more than 99% of tracked stock-token DeFi deposits, with approximately $53 million held through Uniswap v4 alone.

The revenue generated by this activity is also notable, with Robinhood Chain earning $50.2 million in transaction fees and Uniswap protocol revenue reaching $7.1 million in September. This represents a significant share of Uniswap's total revenue, at 57.3% during the period.

Interestingly, existing Robinhood users only accounted for around 1%-2% of transactions on the network, suggesting that the initial liquidity boom is primarily driven by crypto-native traders rather than mainstream investors.