Robinhood Chain raises $700 million in onchain assets in three weeks

Robinhood Chain is growing rapidly. Just three weeks after launch, approximately $700 million in onchain assets are already on the network, a large portion of which is held in DeFi protocols. That is according to figures from Entropy Advisors.

$430 million in stablecoins

Of the $700 million in total onchain assets, no less than $430 million consists of stablecoins. That is a remarkably high share and shows that users are primarily bringing stable value to the network. The growth is clearly visible in the data from Entropy Advisors, which closely monitors the chain.

The network is thus attracting capital quickly, with the stablecoin dominance suggesting that many users are seeking yield without exposure to price fluctuations. That fits well with the strategy of Robinhood, which targets a broad audience of retail investors.

$200 million in Morpho via the Robinhood app

Approximately $500 million of the total value is deposited in DeFi protocols on the chain. Of that, around $200 million is in Morpho, where users earn a yield of roughly 7% per year through Steakhouse Financial. What makes this special is that Morpho is integrated directly into the Robinhood app. Users therefore do not need to open a separate Robinhood Wallet to benefit from it.

That is a smart move by Robinhood. By making DeFi protocols directly accessible via the main app, the platform lowers the barrier for ordinary investors to get started with decentralised finance. In addition to Morpho, protocols such as Uniswap, Lido, PancakeSwap and Meridian are also active on the chain, as the chart from Entropy Advisors clearly shows.