Barely two months after Robinhood Chain launched on July 1, cumulative tokenized-stock trading on Uniswap has exceeded $1 billion, with daily peaks above $130 million shortly afterward. Uniswap deployed v2, v3, v4 and UniswapX on the network at launch, and its products now represent about 99% of tokenized-stock DEX market share, with v4 alone accounting for roughly 73%. The activity centers on ERC-20 tokens representing equities such as Apple and Nvidia, allowing users to trade, provide liquidity, borrow and build on-chain index products continuously. Uniswap v4 hooks (programmable swap modules) let developers set dynamic fees, limit trade sizes and add anti-snipe protections directly on-chain. Projects including Uniliquid and Hookify are using the system to develop liquidity strategies, while independent developers—not Robinhood or Uniswap Labs—are building most of these applications. The use of hooks around major equities rather than obscure governance tokens points to a broader shift in DeFi’s practical applications.