Robinhood’s second-tier Etherwood network was launched on July 1st, with the central direction of bringing real-world assets, such as monetized stocks, ETFs, into the chain and linking them to decentrized trading, lending, etc.

Based on Arbitrum

The network is based on the Ether Workshop and uses the Arbitrum Dedicated Blockchains framework provided by Offchain Labs. The transactions will not all be carried out directly on the Internet by the ITA, but will be processed on the second floor and returned to the ITA for settlement.

Such a structure would typically reduce transaction costs and enhance network processing capacity. Robinwood Chain uses ETH to pay Gas, compatible with the Taifung Virtual Machine, which can be used by developers to deploy applications using existing ETH tools and programming environments.

Focus on carrying monetized shares

Robinwood launched Stock Tokens on this chain. Such chain assets correspond to real-world assets such as equities, ETFs, through which users can gain access to relevant asset exposures and further access to chain-based transactions, lending and other smart contract applications.

It is mentioned that such tokens are not registered under United States securities law and cannot be supplied, sold or delivered directly or indirectly to persons in the United States. In jurisdictions such as Canada, the United Kingdom and Switzerland, sales are similarly restricted.

First week's trade break, $1 billion.

After the main online line, the chain quickly accumulates the number of transactions and addresses in the first week. According to the data, the network recorded more than 17 million transactions in its first week, with close to 350,000 addresses and more than $1 billion in decentrized transactions.

  • Internal estimate for TVL approximately $250 million
  • DefiLlama Core Statistics TVL About $94 million
  • Stabilized currency in the chain in excess of $260 million

Current accessed applications and infrastructure include Uniswap, Morpho and Chainlink, with development, hosting and stabilization currency support from Alchemy, Bitgo and Paxos. The article also mentions that the rapid increase in the meme currency, Cash Cat, in the early days of the line, also led to some of the early trade dynamics.