Solana

Robinhood

Ethena

GMTrade said it will leave Solana and move to Robinhood Chain, putting another Solana-native trading project inside the new migration chatter around Robinhood’s RWA-focused Layer 2.
The perp DEX <a href="https://x.com/gmtrade_xyz/status/2075114647842086935?s=20" rel="noopener noreferrer nofollow">framed</a> the decision around heavy competition on Solana and fading visibility from Solana co-founder Anatoly Yakovenko, known as Toly on X. “The competition on Solana is too tough,” the team wrote, adding that “retweets from @toly started drying up” before it decided there was “no other choice.”
The wording keeps part of the announcement inside Crypto Twitter’s meme cycle, but the claim follows World.xyz’s decision to <a href="https://x.com/world_xyz/status/2074861520576540961?s=20" rel="noopener noreferrer nofollow">migrate from Solana to Robinhood Chain</a> after a 24-hour review. World.xyz’s move pushed Robinhood Chain into Solana builder discourse days after the network’s mainnet launch.
<h2 id="robinhood-chain-pushes-for-rwa-apps">Robinhood Chain Pushes For RWA Apps</h2>
Robinhood launched <a href="https://robinhood.com/us/en/newsroom/robinhood-accelerates-global-expansion-robinhood-chain-mainnet-stock-tokens-agentic-trading/" rel="noopener noreferrer nofollow">Robinhood Chain Public Mainnet</a> on July 1 as a Layer 2 built using the Arbitrum Platform, with Uniswap, Pleiades, Alchemy, BitGo and Chainlink listed among early ecosystem and infrastructure partners.
The network is built around real-world assets, tokenized stocks, lending, borrowing and DeFi primitives tied to Robinhood Wallet. Robinhood also opened Stock Tokens to eligible users in more than 120 countries, with the products designed for 24/7 trading on Robinhood Chain and use inside decentralized applications, including lending pools and trading collateral.
Early DeFi liquidity has already started to move through the network. <a href="https://cryptoadventure.com/ethena-drives-robinhood-chain-tvl-spike-as-morpho-absorbs-usdg-flows/" rel="noopener noreferrer nofollow">Robinhood Chain protocol TVL rose from $83 million to $147 million</a> after Ethena seeded $50 million into a Steakhouse Financial USDG vault, pushing Morpho into the center of the chain’s first lending activity.
<h2 id="solana-still-holds-the-rwa-trading-lead">Solana Still Holds The RWA Trading Lead</h2>
GMTrade’s public app still describes the protocol as the <a href="https://gmtrade.xyz/trade" rel="noopener noreferrer nofollow">leading RWA perp DEX on Solana</a>, with wallet-based trading and exposure to crypto, FX, commodities and stock-linked markets. A move would be notable because GMTrade’s pitch has been closely tied to Solana’s low-fee trading environment.
Solana still has one of the stronger RWA trading narratives in crypto. <a href="https://cryptoadventure.com/solana-tokenized-equity-volume-hits-380m-as-xstocks-and-backpack-lead-trading/" rel="noopener noreferrer nofollow">Solana tokenized equity volume reached $380 million</a> in 24 hours during a recent xStocks and Backpack-led trading burst, while derivatives positioning later expanded as traders watched the chain’s tokenized-equity activity.
No migration timeline, deployment address, user-transfer process or <a href="https://cryptoadventure.com/robinhood-chain-explained-stock-tokens-rwas-layer-2/" rel="noopener noreferrer nofollow">Robinhood Chain</a> launch date for GMTrade was included in the team’s statement. GMTrade’s site still listed the product as a Solana perp DEX during the latest check.
The post <a href="https://cryptoadventure.com/gmtrade-says-it-will-leave-solana-for-robinhood-chain-after-world-xyz-move/" rel="noopener noreferrer nofollow">GMTrade Says It Will Leave Solana For Robinhood Chain After World.xyz Move</a> appeared first on <a href="https://cryptoadventure.com" rel="noopener noreferrer nofollow">Crypto Adventure</a>.

GMTrade Says It Will Leave Solana For Robinhood Chain After World.xyz Move

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