{"id":76186,"date":"2026-07-31T09:12:51","date_gmt":"2026-07-31T09:12:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/base-says-its-distribution-edge-can-outlast-robinhood-chains-early-surge\/"},"modified":"2026-07-31T09:12:51","modified_gmt":"2026-07-31T09:12:51","slug":"base-says-its-distribution-edge-can-outlast-robinhood-chains-early-surge","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/base-says-its-distribution-edge-can-outlast-robinhood-chains-early-surge\/","title":{"rendered":"Base Says Its Distribution Edge Can Outlast Robinhood Chain&#8217;s Early Surge"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Robinhood Chain\u2019s daily active users surpassed Base\u2019s on July 21, an edge it has maintained since.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Robinhood Chain\u2019s cumulative DEX volume topped $9 billion recently, driven 80% by memecoins.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Base says 187.8 million x402 payments and an imminent tokenized-stock launch can defend its lead.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>A Fast Start, With Caveats<\/h2>\n<p>Within just four weeks of its launch, Robinhood Chain has logged roughly <a href=\"https:\/\/www.artemis.ai\/insights\" target=\"_blank\" rel=\"noopener noreferrer\">230,000 daily active users<\/a>, enough to pass Base\u2019s count cleanly. Cumulative DEX volumes too have jumped past $9 billion, including a 24-hour peak of $877.6 million on July 12 that briefly made Robinhood Chain the second-largest chain globally, behind only Solana.<\/p>\n<p>That said, more than 80% of this volume has come from memecoin trading, not the tokenized equities Robinhood marketed as its signature feature, with the latter only accounting for 4% of its chain activity. In fact, by July 25 that metric had surged roughly fivefold, but even after that, tokenized equities remained a mere fraction of the chain\u2019s daily DEX turnover (with stablecoins still being the single largest category).<\/p>\n<h2>Base Owns the Miss<\/h2>\n<p>The timing of these numbers seemed to have put Base on the back foot and through two lengthy X posts, co-founder <a href=\"https:\/\/x.com\/jessepollak\/status\/2077427261586997745\" target=\"_blank\" rel=\"noopener noreferrer\">Jesse Pollak admitted<\/a> that the network\u2019s bet on onchain social products (i.e. Farcaster, Zora, miniapps and creator coins) had \u201cdisintegrated completely,\u201d leaving the project behind in key areas that \u201cwere now increasingly critical,\u201d including perpetuals and prediction markets.<\/p>\n<p>He also conceded that tokenized equities in an EVM environment were something \u201cRobinhood Chain has done right,\u201d and that Base had been \u201cbehind on this,\u201d even though a fix was close. Coinbase CEO Brian Armstrong <a href=\"https:\/\/x.com\/brian_armstrong\/status\/2079211558769697163\" target=\"_blank\" rel=\"noopener noreferrer\">made a similar concession<\/a> earlier this month, noting that Base\u2019s content-coin strategy didn\u2019t work, <a href=\"https:\/\/x.com\/brian_armstrong\/status\/2076691377124184202\" target=\"_blank\" rel=\"noopener noreferrer\">noting<\/a>:<\/p>\n<blockquote>\n<p>Base has been focused on trading, payments, and agents (in that order). I think all three are inextricably intertwined. Most of the resources are going to trading right now fwiw. Maybe it doesn\u2019t translate externally right now, but that\u2019s the case.<\/p>\n<\/blockquote>\n<h2>The Case Put Forth<\/h2>\n<p>Base\u2019s response has leaned on distribution built over its nearly three years of being live, not a one-for-one answer to Robinhood\u2019s DAU or DEX-volume numbers. Xen Baynham-Herd, Base\u2019s head of global growth, told Bitcoin.com News that the network\u2019s x402 payment protocol has already processed 187.8 million agentic payments worth $42.4 million across more than 5,000 merchants.<\/p>\n<p>He also pointed to Visa adding Base to its stablecoin settlement pilot alongside Polygon, Arc and six other chains, and to the project\u2019s May \u201cAzul\u201d upgrade, which combined trusted execution environments with zero-knowledge multiproofs to cut withdrawal finality to about a day.<\/p>\n<p>Traditional card processors carry fixed fees as high as 30 cents per transaction, a floor that makes internet micropayments impractical, Baynham-Herd said; x402 pushes protocol fees to zero and gas costs to roughly a hundredth of a cent, posturing Visa\u2019s pilot as a recognition that legacy rails simply cost more, not a marketing favor.<\/p>\n<p>Base\u2019s distribution case extends beyond agentic payments to conventional stablecoin liquidity also given that the network holds roughly $3.9 billion in stablecoins (about 90% of it USDC), putting it neck-and-neck with Arbitrum atop the L2 stablecoin rankings. Moreover, Shopify processes USDC payments on Base, and JPMorgan settles its tokenized deposit product there too, luxuries Baynham-Herd pointed out are not available to a four-week-old chain.<\/p>\n<p>Lastly, he signalled that the aforementioned figures measure a layer of activity completely different from Robinhood Chain\u2019s retail trading numbers, particularly machine-to-machine payments and enterprise settlement rather than DAU or DEX volume, adding:<\/p>\n<blockquote>\n<p>Builders go where users are. Users go where the apps work and add value. That flywheel is the moat. The single headline I watch is whether apps have users who come back without being paid to. If they don\u2019t, no amount of TVL or DAU means anything.<\/p>\n<\/blockquote>\n<h2>What\u2019s Next<\/h2>\n<p>Coinbase has announced tokenized stocks on its centralized exchange, so the gap Pollak seems to be alluding to is specifically the onchain, Base-native version, built on a 1:1 share-backed model with no confirmed launch date of its own.<\/p>\n<p>Robinhood\u2019s tokens, by contrast, are structured as tokenized debt securities (i.e. holders get no voting or shareholder rights and can\u2019t claim the underlying shares directly, only cash redemption). Landing Base\u2019s onchain product would close Robinhood\u2019s clearest remaining edge.<\/p>\n<p>That, plus Base\u2019s institutional and agentic-payments push, is the bet underlying Coinbase\u2019s case: that Robinhood\u2019s early lead, still more than 80% memecoin-driven, is easier to overtake than the distribution network Base has spent nearly three years building. Whether that holds will show up in whether the latter\u2019s tokenized-equities volume keeps compounding once its launch numbers start to fade.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/featured\/base-robinhood-chain-distribution-edge-pollak-armstrong\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Robinhood Chain\u2019s daily active users surpassed Base\u2019s on July 21, an edge it has maintained since. Robinhood Chain\u2019s cumulative DEX volume topped $9 billion recently, driven 80% by memecoins. Base says 187.8 million x402 payments and an imminent tokenized-stock launch can defend its lead. A Fast [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":76187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76186"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=76186"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/76187"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=76186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=76186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=76186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}