Robinhood Chain Ecosystem: Analyzing Value Capture Across Asset Layers

Two months after its launch, Robinhood Chain has surpassed $1 billion in TVL and daily DEX volume. Despite its success, the chain lacks a native gas token, using ETH instead. Investors are navigating a complex landscape of assets: HOOD equity, which benefits from increased platform activity; ETH, the primary gas and settlement asset; and launch platforms like PONS and LONG, which capture value through transaction fees. Meanwhile, community-driven meme tokens like CASHCAT have emerged as speculative highlights within the ecosystem.