Robinhood Chain, a Layer-2 network launched on July 1 using Arbitrum Orbit technology, saw its Total Value Locked hit a record $588.9 million on July 21, less than a month after launch, with capital inflows exceeding $500 million. However, average daily active users dropped 7% week-over-week, falling from a peak of 323,969 on July 21 to around 275,000, while monthly active users exceeded 2 million with a 50% increase in a single week. The lending protocol Morpho saw its deposits surge 74% in one week, reaching $222 million, and Aave offers a 7% return on USDG deposits. This divergence between surging deposits and declining daily engagement raises questions about user retention, even though the nearly $589 million accumulated in under a month already positions Robinhood Chain ahead of many established chains at their early stage.
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