Robinhood Chain, Robinhood’s blockchain infrastructure project, has overtaken Polygon in total value locked (TVL), according to DefiLlama. Robinhood Chain’s TVL is between $791 million and $802 million, compared with Polygon’s $788 million to $790 million. The permissionless Ethereum Layer 2 launched on July 1, 2026, using the Arbitrum Orbit stack, ETH for gas and no native token. Its TVL rose from below $5 million before launch to more than $100 million within a week, $431 million after three weeks and above $700 million by late summer. Morpho and Uniswap deployments account for most of the locked value. Stablecoin market capitalization on the chain is higher, at roughly $868 million to $872 million, while bridged TVL is higher still. Early activity was dominated by memecoins, which at times represented more than 80% of decentralized-exchange volume, but trading has shifted toward utility and infrastructure tokens. Daily decentralized-exchange volume sometimes exceeded $1 billion, daily active users regularly reached the hundreds of thousands, and the chain processed millions of transactions daily. The milestone is tempered by Polygon’s declining TVL, the much larger scale of Ethereum and Solana, and Robinhood Chain’s concentration in a few protocols. The Arbitrum Orbit architecture provides Ethereum security guarantees alongside lower transaction costs and higher throughput; the source identifies Robinhood’s brand and existing customer base as the chain’s key differentiator.