Robinhood链上Meme币股的3种打开方式

Original｜Odaily Planet Daily (@OdailyChina)

Author｜Wenser (@wenser 2010 )

Representative projects such as PONS, AI, and BONER have successively broken through new market cap highs, and Robinhood Chain Meme coins are gaining explosive popularity at an unprecedented pace.

Moreover, thanks to Robinhood's own brokerage trading platform resources and the flexibility of the Robinhood Chain ecosystem, stock-linked Meme coins have quickly become the hottest trend recently. The various trading, yield, and leverage mechanics derived from this have opened up new ideas for crypto traders who were previously limited to the perspective of "treating US stocks like crypto to speculate on."

Today, Odaily Planet Daily will summarize the mainstream trading strategies within the Robinhood Chain ecosystem based on some of its popular projects, hoping everyone can find their own wealth opportunities through this.

"Alternative Assets" on the Robinhood Chain: Stock Tokens, Stock Meme Coins, Launchpad Platform Tokens, Lending Assets

At present, Meme coins remain the most popular major asset class on the Robinhood Chain. Unlike the "pure Meme coins" found on other public chain ecosystems, many Meme coins on the Robinhood Chain are deeply intertwined with stock tokens.

In terms of stock tokens, there are nearly a hundred US stock tokens currently existing on the Robinhood Chain. According to the Robinhood Chain token market cap ranking website, the current US stock tokens include not only tech giants like NVIDIA, SpaceX, Apple, and Tesla, but also stocks with strong Meme attributes such as GameStop and Reddit. Crypto-related stocks like Strategy, Coinbase, and Circle also make the list. Although their market caps are relatively small, mostly staying in the millions of dollars, they have already opened up an asset trading window for stock tokenization investors.

In terms of stock Meme coins, the trading volume of stock-linked Meme coins on the Robinhood Chain has surpassed that of stock tokens, making them the primary RWA trading asset. According to Dune data, on August 31, the trading volume of stock-linked Meme coins on the Robinhood Chain reached $93.1 million, an increase of approximately $20 million from the previous day; stock token trading volume reached $91.4 million, an increase of approximately $40 million from the previous day. The pulling effect of stock-linked Meme coins on stock token trading volume is extremely evident, with representative projects including AI/NVDA, BONER/HIMS, etc.

In terms of Launchpad platform tokens, PONS and AI, as the platform tokens of the pons platform and the Long platform respectively, have become representative projects ranked first and fourth in token market cap on the Robinhood Chain. The former has a market cap of approximately $420 million with a 24-hour trading volume of nearly $70 million; the latter has a market cap of approximately $270 million with a 24-hour trading volume exceeding $50 million.

In terms of lending assets, lending platforms such as Morpho support stock tokens as collateral assets for yield generation or borrowing stablecoin assets. In this regard, stock tokens behave similarly to mainstream cryptocurrencies like BTC, ETH, and SOL in the crypto market, with prices fluctuating according to market conditions and volatility.

In terms of burned/locked assets, Launchpad platform tokens like PONS and AI reduce circulating supply through burning or locking mechanisms, thereby achieving synchronized growth between ecosystem development and platform token prices.

In terms of pure Meme coins, we previously provided a brief overview and introduction of representative projects on the Robinhood Chain along with their underlying Meme symbols and trending narratives in the article "8 Meme Coins Rapidly Reached Tens of Millions in Market Cap — What Do the Golden Dogs on Robinhood Chain Have in Common?", which is also worth long-term attention.

The emergence of various assets has also provided more targets and rich composability for additional trading strategies on the Robinhood Chain.

LP Strategies: Meme Coin Liquidity Pools, Stock Token Liquidity Pools, Leveraged Stock Liquidity Pools

The emergence of stock tokens and stock Meme coins has made it possible to create LP pools backed by Meme coins, stock tokens, and leveraged stock tokens as underlying assets.

According to crypto KOL @0xanonnnn's previous post, "For Meme coins on Robinhood Chain that specifically use Stock or LT as the underlying pool on Uniswap v4 with high fee tiers, the daily APY can reach as high as 100,000+%." He subsequently provided a detailed explanation of this strategy, as detailed in "What Exactly Is the Leveraged Token That Can Enter Meme Liquidity Pools?".

In simple terms, stock tokens and LTs (ERC20 tokens packaged from perpetual contract positions of stock tokens) can both serve as underlying liquidity pool assets for earning LP trading fees, especially for stock token-related Meme coins with high trading volume and popularity.

Currently, according to Robinhood Chain liquidity pool information on the Uniswap website, liquidity pools such as FIG/ETH, NVDAx3L/ETH, HPE/ETH, and LULU/USDG show their respective APRs.

It is worth noting that various LPs are not a foolproof way to sit back and earn profits. Impermanent loss that may occur during regular LP operations, as well as severe price fluctuations under high-volatility, high-risk market conditions, can all lead to various losses. The possibility that all funds in hand are ultimately converted into stock tokens or Meme coins cannot be ruled out, and this risk warrants caution.

Stock-Meme Linkage Strategies: Short Squeezes via Meme Coins, Stock Prices Driving Meme Coins Up

Apart from asset and LP-side strategies, there is an even more unorthodox approach: seeking positive linkage between stocks and Meme coins.

Recently, crypto community member @RuneCrypto_ published a post claiming: "I spent $1.8 million to buy 37.4% of a Nasdaq-listed company through over-the-counter trading. This company has a market cap of $4.8 million, a stock price of $0.12, annual recurring revenue of only $380,000, and $6.2 million in debt. Everyone thought it was going to die."

His plan is: tokenize the company's stock, deploy it on the Robinhood Chain, and then issue a Meme coin paired with the stock token. Through this, the flywheel of "Meme coin traders buy tokens → funds flow into the 'stock token/Meme coin' liquidity pool → demand for stock tokens rises → the issuer buys an equivalent amount of US stocks for 1:1 collateralization → real buy pressure emerges in Nasdaq small caps → the 92.3% short interest is triggered → a short squeeze pushes the stock price up → the rising stock price in turn strengthens the Meme coin narrative" can be set in motion. For more information, see "Buying a Nasdaq Company for $1.8 Million, Then Using a Meme Coin to Trigger a Short Squeeze".

Although community feedback suggests that no such company exists in the financial markets, and certain aspects of his plan contain idealistic assumptions, to some extent, one of the narratives told by the BONER/HIMS token pair previously resembles this very story.

Theoretically speaking, although the market cap of stock Meme coins typically ranges from tens of millions to hundreds of millions of dollars — negligible compared to the tens of billions or even hundreds of billions of dollars in market cap of their underlying stocks — by leveraging the trading gap in stock markets during weekends, these could generate more demand for underlying stock purchases, influence liquidity pools and demand for stock token purchases. Stock Meme coin buyers could thereby push up the price of underlying stock tokens, achieving a "short squeeze" effect by proxy.

Conversely, a rise in the price of on-chain stock tokens would in turn drive up the price of stock Meme coins. The precedent of Wall Street retail investors squeezing GameStop stock shorts is well known; this is merely a different trading venue. In the future, if the market cap and trading volume of stock Meme coins can grow further, they may achieve the goal of "the crypto market influencing the stock market" in another form.

For now, this is more of a Meme coin narrative, but it is also one of the trading strategies for Meme coins and stock Meme coins on the Robinhood Chain.

Finally, the strategy categorization in this article was inspired by the content in the image below, which is hereby acknowledged.