Robinhood CEO Vlad Tenev said on X that “if you’re embedding stock tokens or RWA into apps, Robinhood wants to talk.”
The post came after Robinhood Chain’s public mainnet went live on July 1. Robinhood has identified stock tokens, ETFs and private assets as priority RWA categories, and a group of projects has already appeared on the chain, according to a review published by Foresight News.
Foresight News also warned that the RWA ecosystem on Robinhood Chain remains at an early stage. Most projects have launched only recently, and their product maturity, real user demand and operating durability have not been fully tested. In some cases, the only public signal is that a project was mentioned, reposted or listed by ecosystem accounts such as Virtuals. The report said those signals should not be treated as investment, formal partnership or credit backing. For token-related projects, it also flagged risks including thin liquidity, contract flaws, concentrated holdings, sharp price swings and the possibility that teams stop maintaining their products. The article was presented as a roundup rather than investment advice.
Arcus: a DEX for stock tokens and crypto
Arcus is a stock-token and crypto DEX built jointly by dYdX Labs and Robinhood Crypto. It focuses on spot and perpetuals trading and is designed to support peer-to-peer trading of stock tokens on Robinhood Chain.
When dYdX announced Arcus, it said part of the future Arcus token supply would be allocated to the dYdX community. The Defiant separately reported that the Arcus token would first be distributed to users who trade, stake or validate on dYdX, with existing dYdX community members receiving priority at issuance.
The publicly identified affiliations listed in the report are dYdX Labs and Robinhood Crypto.
Lighter: perpetuals and stock-token trading
Lighter is a ZK-powered decentralized perpetuals and spot exchange that has been deployed on Robinhood Chain. Robinhood Wallet users can now trade perpetual contracts and stock tokens directly through Lighter.
According to Bankless, Lighter has committed $11 million worth of LIT to the Robinhood community. Users can earn points by trading perpetuals on Lighter. Trades placed through Robinhood Wallet receive 2x points, while trades through the Lighter web app receive 1x points. Those points can be redeemed directly for LIT, subject to Lighter’s terms.
Rialto: the proprietary AMM listed by Robinhood Chain
Rialto describes itself as an onchain spot exchange supporting crypto assets, stocks, ETFs and commodities. The project puts its emphasis not only on the range of asset classes but also on quote formation, market making, routing and settlement for each order.
On the team side, Riley (@riley_gmi) previously worked at trading-focused firms including BlockTower, Arca, ASXN and RockawayX. Another team member, boccaccio, previously worked at the crypto media and information platform Blockworks.
Foresight News said Rialto came to the fore against a backdrop of collaboration involving Robinhood Crypto, Offchain and Arbitrum.
The Index (INDEX): distributing stock tokens to holders through trading fees
The Index published its first post on X on July 3. It supports stock-token trading through infrastructure provided by Rialto and has built a stock-token distribution protocol. Users who hold a required amount of INDEX can receive a basket of stock tokens funded by trading fees generated from stock-token activity.
The mechanism described in the report is specific. The Uniswap v4 Index/ETH pool charges a 3% native ETH fee through a Hook. The ETH collected is used to buy supported stock tokens, and a distribution contract sends those assets every 15 minutes to wallets holding at least 10,000 INDEX. Users do not need to stake, and they do not need to claim manually.
The project site also says the distributions are stock tokens rather than brokerage-held stocks, and they do not carry traditional stock voting rights or dividend rights. Data shown on The Index website says more than $480,000 worth of RWA has already been distributed.
On July 15, The Index released a new product called rwa.wtf, offering up to 50x leverage for trading RWA assets. For each trade, 75% of the fee is used to buy stocks for allocation to INDEX holders, while the remaining 25% is used to deepen liquidity.
The report noted that The Index’s X account is followed by Adam Fern, Robinhood’s head of DeFi products, and that stock-token trading on the platform is powered by Rialto.
Arrow Finance (ARROW): collateralized lending against crypto and stock tokens
Arrow Finance is building an overcollateralized lending protocol, or CDP system, on Robinhood Chain. Users can deposit stock tokens, ETFs, stablecoins or crypto assets into separate vaults and mint aUSD, a debt token pegged to the U.S. dollar, instead of selling their holdings.
Arrow is still on testnet. The project is also scheduled to launch a token issuance platform called Arrow Pad on July 20.
As for public ties, Arrow said on July 10 that it had invited Ash Manicka to serve as a strategic adviser. The report identifies Manicka as someone who joined Robinhood before its IPO and worked on marketing for crypto products including Robinhood Wallet.
Meridian: RWA perpetuals and prediction markets
Meridian is a Robinhood Chain project focused on RWA perpetual contracts and prediction markets, with USDe used as the settlement asset.
The project was previously known as Ethereal and rebranded to Meridian in May 2026. Foresight News said the shift reflects a move away from a potentially broader derivatives or trading-infrastructure profile toward a tighter focus on RWA, prediction markets and perpetuals.
Back in November 2024, Ethereal said it would allocate 15% of all future Ethereal governance tokens to ENA (sENA) stakers.
Meridian describes itself as a day-one partner of Robinhood Chain, though the report noted that Robinhood’s current public list of core app partners does not include Meridian as a standalone entry.
Vimen (VIM): wrapping baskets of assets into a single index token
Vimen is building a fully collateralized index-basket protocol on Robinhood Chain. Users can deposit multiple stock tokens or cryptocurrencies from the same category into a smart contract and receive an ERC-20 basket token representing the underlying set of assets. They can also burn the basket token at any time to redeem the underlying assets. Vimen also supports one-click minting of basket tokens with ETH or USDG.
The report lists three live baskets on the protocol:
- MAG7, made up of stock tokens for AAPL, MSFT, GOOGL, AMZN, META, NVDA and TSLA;
- AI6, made up of NVDA, AMD, MU, PLTR, GOOGL and SPCX;
- HOOD6, a crypto basket containing six native Robinhood Chain tokens: CASHCAT, ARROW, HOODRAT, VIBECAT, VEX and VIRTUAL.
Vimen charges a 0.30% minting fee and no redemption fee. The report said the project has been mentioned by the Virtuals X account.
RoodFi (ROODFI): tokenizing U.S. tax liens
RoodFi said on July 13 that it had launched on Robinhood Chain mainnet. The project is trying to turn local U.S. government tax liens and tax deeds into onchain certificates that users can buy with USDG, hold until redemption, or sell on the secondary market.
Foresight News said the project was mentioned in a Virtuals weekly roundup. It also added a cautionary note: in May, the bio on RoodFi’s X account described it as “an autonomous AI agent management system with a terminal-first control interface,” and the related token currently has a market capitalization of only $4,500.
Fletcher (FLETCHER): mirroring physical collectible cards from Solana onto Robinhood Chain
Fletcher announced the launch of its Gacha card-draw application on July 11. It is not a stock-token project. Instead, it focuses on physical collectible-card RWA.
According to project documents, Collector Crypt stores physical cards graded by PSA, CGC or BGS in a vault and issues one-to-one NFTs for them on Solana. FLETCHER aggregates that inventory. After users draw or buy cards on Robinhood Chain using USDG, the system settles value between Robinhood Chain and Solana through Across, then mints a one-to-one mirrored ERC-721 on Robinhood Chain.
Users can hold or sell the mirrored NFT. Fletcher said cards drawn through the app can go through Collector Crypt’s buyback channel within 72 hours. After that, users would need to list them on the market. Redemption of the physical cards is still being rolled out.
The project also offers a “Tweet-to-rip” bot that lets users send commands directly on X to draw cards after approving wallet allowance. The FLETCHER token was issued through Virtuals.
Foresight News said Fletcher was mentioned in a Virtuals weekly roundup. It also noted that while Collector Crypt and Across are disclosed in project documents as the inventory source and cross-chain infrastructure, it could not find project-level confirmation from either party’s official X account.
Sherwood Exchange (SWOOD): a privacy layer for stock-token trading
Sherwood Exchange positions itself as a private RWA trading platform on Robinhood Chain.
Under the model described by the project, users first deposit assets into a privacy pool and generate a zero-knowledge UTXO note. When transferring or trading, they prove ownership of a valid note instead of exposing a direct link between the original deposit and later actions.
Sherwood does not run a completely sealed private liquidity pool of its own. Instead, swaps call public Uniswap liquidity and then place the received assets back into a fresh privacy note.
The report said Sherwood Exchange has joined the Virtuals community showcase and has also been mentioned in a Virtuals weekly roundup.
Fletch Finance: splitting stock principal and dividends into two tokens
Fletch Finance is a dividend-splitting protocol for stocks on Robinhood Chain, described as similar to Pendle. When a user deposits one stock token, the protocol mints two assets on a one-to-one basis.
- PT, or Principal Token, represents the stock principal after dividends have been stripped out. It typically trades at a discount and can be redeemed for the full stock token at maturity.
- YT, or Yield Token, represents only the dividends generated by that stock before maturity.
Every trade on Fletch incurs a fee, and part of that fee flows back to the FLETCH token through mechanisms including buybacks and burns.
Foresight News said it did not find additional background information on the project.