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Robinhood Chain has been live for barely a week, and USDG liquidity on Uniswap has already doubled. The Paxos-issued stablecoin’s total value locked on the protocol climbed past $8.5 million, up from roughly half that just seven days ago.
Robinhood Chain’s first week, by the numbers
Robinhood Chain, an Arbitrum-based Layer 2 network, officially launched its public mainnet on July 1, 2026. Uniswap deployed as the primary automated market maker from day one, essentially serving as the chain’s liquidity backbone.
The entire chain’s TVL crossed $100 million within days of going live, and Uniswap alone has captured over $30 million of that liquidity.
Trading volume on Uniswap reportedly reached as high as $500 million during the first week.
USDG now represents around 65% of the total stablecoin supply on Robinhood Chain.
Why USDG is growing so fast
Ethena made a $50 million deposit into a USDG vault curated by Steakhouse Financial.
Robinhood Earn, a yield product built around USDG, offers an estimated 7% APY through structured vaults managed by Steakhouse Financial.
What this means for investors
When a single stablecoin accounts for 65% of a chain’s stablecoin supply, the ecosystem’s health becomes tightly coupled to that one asset. If USDG faces a de-peg event, regulatory challenge, or liquidity crisis, the ripple effects across Robinhood Chain would be disproportionately severe.
Uniswap’s position as the flagship AMM on Robinhood Chain gives it a first-mover advantage, with over $30 million in liquidity already captured and $500 million in first-week trading volume.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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