Robinhood Chain mainnet live; CASHCAT tops $150M

Robinhood launched the public mainnet of Robinhood Chain this month. The network is a permissionless Layer 2 built on Arbitrum intended to support tokenized stocks, real-world assets, DeFi lending and AI-native finance.

Within a week of launch a memecoin called CASHCAT reached roughly $150 million in market value and recorded about $159 million in 24-hour trading volume. The token routed liquidity through Uniswap V3 pools and third-party launch and routing platforms including Noxa.fun and Pump.fun, rather than through a listing inside the Robinhood app.

Robinhood connected Uniswap and other decentralized exchanges to its on-chain wallet users when the chain went live. That connection allowed tokens deployed on Robinhood Chain to access external liquidity, price charts and aggregator surfaces without passing through Robinhood’s in-app approval process.

On-chain dashboards show CASHCAT accounted for about 79% of aggregate market cap and 74% of trading volume among the top 25 memecoins on Robinhood Chain. Network activity rose rapidly in early July: daily transactions increased from roughly 1.2 million on July 7 to nearly 2.8 million on July 8. Token deployments through the Noxa.fun launchpad climbed from 1,858 to 6,675 over the same period.

Data from protocol trackers put total value locked on Robinhood Chain near $107.8 million, the stablecoin market cap near $246.8 million and the active real-world asset market cap around $12.5 million.

CASHCAT’s trading profile shows high turnover: its volume-to-market-cap ratio indicates same-day trading rather than long-term holding. Liquidity for the token is concentrated in a single new-chain DEX pair, a structure that can lead to slippage and rapid price wicks. Copycat tokens and impersonator accounts appeared soon after the mainnet launch.

A 2026 academic study that tracked 34,988 memecoins across multiple chains found that about 5.15% of new tokens stopped trading within 24 hours of launch.

Robinhood CEO Vlad Tenev wrote that Robinhood Chain is being built to be “the best chain for RWAs” and added that it “works great for memes too.”

Robinhood reported crypto revenue of $134 million in the first quarter of 2026, a 47% decline year over year. Total net revenue for the quarter was $1.07 billion, up 15% from the prior year, and platform assets were $307 billion.

Market participants are watching metrics including CASHCAT’s market cap and turnover, daily transactions on Robinhood Chain, token deployments on Noxa.fun, the stablecoin market cap on the chain and the active RWA market cap.