One of the things we've learned from our Robinhood Chain mainnet launch is that ecosystems can grow incredibly quickly when there is exceptional engineering behind them
Huge credit to the Robinhood engineering team, and congrats to our friends and partners @arbitrum.
"The great thing about Trump Accounts is they deliver on the promise of ownership and skin in the game from birth. They also build an appreciation for our great country." - @RobinhoodApp Founder & CEO @VladTenev
The pace of innovation on Robinhood Chain right now is incredible.
We are laser-focused on one mission: building the most secure, scalable, and seamless foundation for real-world assets.
All investing involves risk and loss of principal is possible.
The hypothetical compound growth example is for illustrative purpose only and assumes bi-weekly contributions of $50 over a 13-year timeline with a 7% hypothetical annual rate of return. This example is not a guarantee of future results and does not account for real world factors like inflation, taxes, fees or market changes.
Trump Accounts are traditional individual retirement accounts with special rules established under section 530A of the Internal Revenue Code. Brokerage and clearing services are provided through Robinhood Financial, LLC and Robinhood Securities, LLC, respectively, each a registered broker-dealer and member of SIPC.
Narrated two-minute walkthrough of my son's Trump Account.
A few highlights...
1. App is 3 parts: Account Balance, Contribute, and Learn
2. Tons of forecasting/modeling to see how the account grows with your child
3. You can invite others to contribute by sending a QR code, which then allows them to use Apple Pay (and a linked debit card) to contribute really easily
4. Educational content: good basic primers on concepts like "what is a stock" + details on how the Trump Accounts work, perfect for parents new to investing, but are interested in learning.
5. You can manage multiple kids in one app!
Sorry the video is cut off at the top/bottom.
Note the $1,000 is PENDING for my son's account, so it's not reflected in any of the growth forecasting in the app.
SCOOP: Families are pouring money into @TrumpAccounts
In 5 days post July 4 app launch:
βΒ nearly $125 million in individual contributions, excluding seed + philanthropic contributions
βΒ 70% of contributions worth less than $250, 60% under $100
βΒ Now +6.5 mil accts claimed
Robinhood Chain, just over one week in:
πΉ More than 17M transactions
πΉ Nearly 350k total addresses
πΉ Nearly $250M Protocol TVL
πΉ $1B+ in DEX volume
Thank you to every builder already shipping on the chain. We're just getting started.
@RobinhoodApp@RobinhoodCrypto
Robinhood Chain is in Robinhood Wallet.
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