Seong Seog Lee

Robinhood launched the "Robinhood Chain" L2 testnet. Sun states they are likely the "first chain to launch with the stock token as part of the native part of the chain itself," rather than segregated. By making tokenized assets (stocks) native primitives alongside gas tokens, Robinhood reduces development friction. This encourages developers to build hybrid TradFi/DeFi apps specifically on their rails, potentially driving massive volume and user stickiness to the Robinhood ecosystem. LONG. This positions Robinhood not just as a brokerage, but as the infrastructure layer for the "Great Convergence" of finance. Regulatory pushback on native tokenized securities; failure to attract developers to the mainnet.

Sun predicts that "the majority of [builders] are going to gravitate towards stablecoins and tokenized assets just because the ease of getting started... and the barriers to build are virtually zero." If the next generation of financial apps is built on these primitives, the underlying issuers and infrastructure providers (Stablecoins, RWA platforms) will capture the value of increased transaction velocity and issuance. LONG. Tokenization is viewed as an inevitability for financial efficiency. Regulatory fragmentation across jurisdictions (e.g., EU vs US rules).