Robinhood and the whole crypto industry are trying to bring a trillion dollar market on chain. Stocks went zero to $150M on Robinhood Chain in two months.
Here's what that means for PARE.
More stocks come on chain and 54 of them already pay dividends. We can open a series for every one of them.
Stocks already trade on chain all weekend. Nasdaq's moving to settle on chain as well. More hours, more stock, more to split.
Each series is two markets. Some people want the stock cheaper. Some just want the income. Same share, two lots of buyers.
Then you borrow against the split share, buy more, split again. Yield markets in DeFi went from nothing to billions doing exactly that, on stuff a lot smaller than stocks.
Every step pays a fee and every fee buys $PARE and burns it.
First time this has been possible anywhere. Started at $20k, on @RobinhoodChain, with a trillion dollar market to go after.
Them coming to Robinhood Chain was inevitable, especially after watching what we’ve been doing as the first mover for the last five days. The biggest name in yield trading showing up where we already are is about the best signal we could ask for. We built the right thing, and we built it first.
They’ve launched with crypto yield. We launched with stock dividends, which is the bigger market and the harder one to build for. The vaults are live and the first dividends land this month. Audit should be finished later next week then caps come off and we open even more series. We’re not slowing down.
Markets this big never end up with one name. Look at stablecoins, exchanges, lending, there’s always a few. Being first is a good way to be one of them.