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Robinhood Chain recorded nearly $1.6 billion in decentralized exchange trading volume over 24 hours on September 1, marking a sharp increase in activity on Robinhood’s Ethereum Layer 2 network. Daily DEX volume was about 61% higher on September 1 than the $989 million recorded on August 28, according to DeFiLlama data.
The network also held about $738 million in decentralized finance deposits and nearly $797 million in stablecoins at the September 1 snapshot. Separately, assets bridged onto Robinhood Chain totaled about $2.52 billion, while 24-hour perpetual futures volume reached roughly $354 million.
DeFi Activity Grows Following July Mainnet Launch
Robinhood launched the public mainnet of Robinhood Chain on July 1 after opening its testnet in February. The network is built using Arbitrum technology and was designed to support decentralized finance alongside tokenized real-world and digital assets.
Activity increased after launch, with Robinhood later reporting more than $12 billion in cumulative DEX volume and over 150 million transactions. Those figures provide a broader measure of network activity beyond the latest 24-hour trading snapshot. Robinhood has positioned the network as infrastructure connecting conventional financial assets with onchain applications. Company’s crypto chief Johann Kerbrat said at the mainnet launch that:
“Decentralized finance unlocks possibilities beyond what traditional finance can offer.”
Stablecoins and DeFi Deposits Approach $800 Million
DeFiLlama data showed Robinhood Chain’s total value locked at $738.11 million on September 1, while stablecoin capitalization stood at $796.74 million. Those figures measure different forms of activity from DEX volume, with TVL tracking assets deposited in DeFi applications rather than the value of trades passing through them.
Robinhood Chain also supports stock tokens that eligible users can trade through decentralized exchanges and, where integrations are available, use in supported lending or collateral applications. However, Decrypt reported that meme coins accounted for much of the network’s early trading activity, meaning the DEX-volume increase should not be attributed solely to tokenized stocks.
The $1.595 billion figure represents a 24-hour trading snapshot rather than cumulative assets committed to the network. Whether that level persists will depend on subsequent trading activity and liquidity across applications on Robinhood Chain.
