This is the smoking gun: 🐸
While
$TIBBIR is being listed on Robinhood Chain, the Ribbit team is silently building a
$TIBBIR bridge from Base to Robinhood Chain
$HOOD, and the first test transfer already went through. 🌉
And it's a genuine burn-and-release bridge: 🔥
$TIBBIR's Base supply dropped by exactly 131,219.13 (two burns), matching the 131,219.13 TIBBIR plus 18.78 ETH now held by the new wallet on Robinhood Chain, whose team contract balance mirrors Base's current supply exactly.
the team moved its
$TIBBIR from Base to Robinhood
$HOOD through its own bridge. I checked it on-chain.
How the bridge works:
On Base, bridged
$TIBBIR is burned. The total supply fell by exactly 131,219.13: first the 3,000 test, then 128,219.13.
On Robinhood Chain, the same amount comes out of a pre-minted reserve.
The reserve always equals exactly the remaining TIBBIR supply on Base (999,773,564.27 right now). Base supply plus TIBBIR in circulation on Robinhood always adds up to the original 999,904,783.40. So nothing is created out of thin air.
See the three pics for what happened in chronological detail since last night (all UTC, checked on-chain):
"The bridge works." 🐸
Reveal is coming, likely tonight at
$HOOD Summit.
GRIBBIT