Robinhood moved its block chain product from the test phase to full operation. The company disclosed that the Taig Layer 2 network, based on Arbitrum technology, Robinhood Chain had been placed on the main network, along with the services of a decentralised and permanent contract for stock exchange along the roll-out chain, open to some overseas markets.
Robinwood Chain is on the main line.
The release was published at the “The World is Flat” event in London by Robinson. Corporate management defines it as a product expansion oriented towards international markets, with a focus on linking traditional financial products to infrastructure.
Robinhood Chain was described as an unlicensed Layer 2 network for real-world assets, using Arbitrum technology. According to the company, the network has been connected to Alchemy, Bitgo and Chainlink and has built-in DeFi functions such as borrowing.
With regard to the mobility arrangements, Uniswap will deploy a dedicated automated marketer as the main open liquidity agreement for the chain, and Pleiades will introduce its own automated marketer as the main proprietary place.
Stock token support chain transactions
Along with the main online line, Robinwood synchronized the launch of a new version of Stock Tokens. Eligible users can trade in round-the-clock stock tokens on the Robinood Chain and can use them in the DeFi scene, including as collateral or in a lending pool.
The company disclosed that the legal form of Stock Tokens was a monetized debt security issued by Robinhod Assets (Jersey) Limited. They provide the holder with an economic exposure to the shares, but do not confer legal title to or benefit from the targeted shares.
Currently, eligible users in more than 120 countries and territories have access to assets through the Robinhood Wallet and carry out spot transactions on centralized trading platforms such as Uniswap, Rialto, Lighter, 1nch and Arcus.
However, the product has been suspended from United States users and has been restricted in some jurisdictions, such as Canada, the United Kingdom, Switzerland, the United Arab Emirates and the sanctioned areas.
Wallet into Lighter's contract.
Robinhod Wallet has also added a function of permanent contract transactions through the use of the Taifung to go to the centralised trading platform Lighter, which is open to eligible users in some jurisdictions. According to the company, markets in the United States, the United Kingdom, Canada, Switzerland, the United Arab Emirates and Singapore are not currently open.
At the same time, Robinhood states that Lighter has allocated original coins worth $11 million to the Robinhood community. Eligible users can receive points after a lasting contract transaction, which can then be converted to LT; if the transaction is completed through Robinhod Wallet, the score is calculated at twice the direct use of the Lighter-end transaction.
Additional information:Robinhod has launched the Robinhod Chain Public Testing Network in February this year. At that time, the company claimed that over 4 million transactions had been processed in the first week of testing the online line and that developers had begun testing stock tokens and decentrized financial applications.