Deepstate to launch order book DEX on Robinhood Chain next week

Joseph DeLong, the former CTO of SushiSwap, announced he will launch a decentralized exchange called Deepstate on Robinhood Chain next week. The order book-style DEX started as a side project alongside his stablecoin card startup Colossus, but apparently refused to stay small. “I have a decentralized exchange side project that outgrew nights and weekends,” DeLong said, confirming plans to deploy on Robinhood’s Arbitrum-based Layer-2 network. Why Robinhood Chain, and why now Robinhood Chain launched on July 1, 2026, and recorded $3.1 billion in DEX volume within its first week. Over 65,000 active users showed up, $13 million in tokenized stock trading occurred on-chain, and $300 million in stablecoins are currently flowing through the network. The chain also logged more than 17 million transactions shortly after launch. An order book model matches buyers and sellers directly at specific prices rather than routing through automated liquidity pools. Most DEXs on Ethereum and its Layer-2s use the automated market maker (AMM) model popularized by Uniswap, where liquidity providers deposit tokens into pools and algorithms set prices. Order book exchanges work more like traditional stock ...