POSITION CLOSING ONLY
January 28, 2021, 9:30 AM
Millions of people open Robinhood to finish what the internet started
Two months ago, Robinhood Chain didn't exist
Today it holds:
> $11B+ in weekly DEX volume
> $900M in TVL
> 190+ tokenized stocks and ETFs
> Up to $6M in fees in a single day
Robinhood built it for tokenized equities
Memecoin stock token pairs already make up roughly
25% of the chain's stock-paired volume
But these markets first collided five years ago
And then Robinhood broke
GameStop was a $17 mall stock selling plastic discs in a download world
Wall Street had shorted more shares than were available to trade
Every short is a future buy and you can't CLOSE one if nobody sells
Roaring Kitty saw the setup
They laughed, then watched, then aped
$17 → $76 → $147 → $483
Strangers with phones took billions from the smartest suits on Wall Street
Melvin Capital lost 53% in a single month
It never recovered
Then came January 28
Buy disappeared
The market was still open but Robinhood had left its users only one move: out
POSITION CLOSING ONLY ☠️
Behind the screen was a ~$3B collateral call
Robinhood couldn't meet in full
Elon asked why
Under oath, Tenev confirmed Robinhood had restricted buying
Then he apologized:
"What happened is unacceptable to us
To our customers, I'm sorry and I apologize"
FINRA later hit Robinhood with record ~$70M penalties for systemic failures
Not for the missing Buy button
Nobody was ever fined for the button
Five years later, the same Vlad Tenev wrote:
"Trading restrictions like we saw in 2021 never have to happen again"
Then he shipped Robinhood Chain
$GME now exists onchain as a Stock Token
Same ticker
Different rails
The man who closed the door built a new room around one promise: never again
GameStop invented Robinhood Chain five years before Robinhood launched it
In 2021 a meme met a stock and broke the broker
In 2026 memes and stocks share liquidity onchain and already move billions
The chart came back
Melvin Capital didn't
Hollywood got the movie
Robinhood got the chain
The internet moved on from GameStop
We didn't
GameStop was the event
POSITION CLOSING ONLY was the sin
Robinhood Chain was the confession
🤖 elizaOS, the leading open-source agent framework, powers 50K+ AI agents!
But when agents start managing capital, one question matters: How do you prove the agent ran the code you deployed?
Their answer: EigenAI + EigenCompute
More 🧵⬇️
ElizaOS, a platform for building AI agents, has adopted the Cross-Chain Token (CCT) standard to make its token, elizaOS, natively transferable across chains via CCIP.
Users can now securely transfer elizaOS across Base, BNB Chain, Ethereum, and Solana, expanding its reach throughout the multi-chain ecosystem.
> Team vesting: 12-month cliff from October 21, then 24-month linear vest (total 36 months).
> Monitoring: all vesting wallets will be publicly listed with explorer links for real-time tracking; Streamflow contracts enforce cliffs and prevent discretionary early unlocks.
AI’s trust problem ends today.
We're thrilled to launch two new services, EigenCompute and EigenAI on EigenCloud. A new foundation for building truly verifiable apps and agents.
One of the biggest upgrades to AI since the launch of GPTs.
More 🧵 ↓
Imagine a future where capital has the ability to think independently.
Generative Markets are a new AI-driven system where a protocol’s capital
optimizes its deployment and growth itself.
Unlike static models, they use autonomous agents to handle funds, provide liquidity, and optimize yields, aiming for a self-sustaining economy without diluting token value.
As trust becomes quantifiable through onchain reputation systems, and DeAI sees agents gradually become decentralized, it makes for a safe but productive treasury strategy.
--
They typically involve a hierarchy of AI agents integrated with smart contracts. The most powerful primitives in DeFi are simple and this is true for generative markets.
For example, an Agent for Protocol-Owned Liquidity (POL) might monitor liquidity pool depth, slippage, and fees, and automatically adjust the DAO’s liquidity positions to stabilize markets and earn (or optimize) yield.
An autonomous Bond Desk Agent can detect treasury shortfalls, algorithmically issue bonds with market-based terms, and manage repayments 24/7. Giving DAOs or onchain entities an always-on funding desk without governance delays.
--
Generative market treasuries can fuel ecosystem growth through a smart cycle:
> AI deploys idle assets into productive strategies.
> Returns (fees, interest) flow back to the treasury.
> Profits are reinvested, compounding capital.
> A larger treasury boosts liquidity, usage, and growth.
> Over time the treasury's productivity can be used for ecosystem initiatives.
Unlike traditional subsidies, a generative market provides a more sustainable alternative, preventing token inflation. The goal is a self-sustaining, “regenerative” economy that grows without diluting token value.
The market could also be governed so that revenue is used within ecosystem initiatives in a community-led way.
More to come on the topic.