Robinhood Chain ranked first in blockchain developer activity less than two weeks after mainnet, per Electric Capital. Bernstein data shows $323M TVL and $3B DEX volume in the first weeks.
Robinhood Chain ranked first in blockchain developer activity less than two weeks after its public mainnet launch, according to data from Electric Capital's Developer Report. Alchemy CEO Nikil Viswanathan flagged the ranking on July 21 via X.
Electric Capital's methodology tracks monthly active open-source developers using a rolling 28-day window of verified code contributions. It does not count GitHub stars or social engagement. Developers who contribute to multiple chains are counted on each network where they commit code, so the ranking reflects where active building is happening.
New blockchain ecosystems typically take months or years to attract a meaningful developer base. Robinhood Chain followed a different path. It launched with existing infrastructure, industry partnerships, and a customer base of nearly 28 million users across 38 countries. The layer-2 network is compatible with the Ethereum Virtual Machine and built on Arbitrum technology. That lets Ethereum developers port smart contracts and applications without rewriting them.
Johann Kerbrat, Robinhood's General Manager of Crypto and International, said the company aimed to simplify blockchain for mainstream users while bridging traditional finance and decentralized applications. He added that within two weeks of the July 1 mainnet debut, the chain had processed more than 52.5 million transactions and approached 1 million blockchain addresses.
Bernstein research showed the network exceeded $323 million in total value locked, while decentralized exchange trading volume surpassed $3 billion in the first weeks. Robinhood Chain also overtook Coinbase Base in daily transaction volume and topped competing EVM-compatible chains in daily active wallet activity, earlier reports said.
Developer activity is a widely watched proxy for long-term ecosystem health because builders create the applications and infrastructure that sustain network growth. The a16z 2025 State of Crypto report noted that Ethereum and its layer-2 ecosystem remain the largest developer destination overall. Robinhood's early data shows how easily existing Ethereum developers can expand work onto a compatible side chain.
Partners including Alchemy, BitGo, Chainlink, and Uniswap provided immediate access to custody solutions, oracle services, and decentralized liquidity. For developers, that reduced the operational friction that slows adoption on most new chains.
Robinhood continues broadening its blockchain products. Stock Tokens are available in roughly 120 countries, subject to local rules. Eligible U.S. users can earn about 7% interest on USDG through the Morpho lending protocol. USDG launched in November 2024 via the Global Dollar Network, whose founding members include Robinhood, Galaxy Digital, Kraken, and Paxos.
Electric Capital's rankings update continuously as fresh contributions are submitted. Kerbrat said Robinhood's objective is to combine traditional financial services with decentralized applications. The July 1 London keynote formally introduced the mainnet. No specific date has been set for the next major protocol upgrade.
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