The next liquidity war isn’t AMM vs AMM. Uniswap and PancakeSwap already won the inventory era. The new fight is over who can: > price like a CEX > distribute liquidity into wallets and aggregators > fund market makers without forcing LPs into IL That stack fits all RFQ + onchain CLOB + credit capital .@native_fi is one of the cleanest examples of all three in one system. - Relay pushes firm quotes into wallets and aggregators. - Core runs a public spot order book. - Pool lets LPs deposit single-sided capital to support settlement. That helps explain why Native was able to take meaningful tokenized-stock flow on BNB without relying purely on AMM liquidity. The same design space is getting crowded: RFQ / PMM @bebop_dex Shared liquidity / orderbook infra @OrderlyNetwork Hybrid venues @VelocityDEX @PhoenixTrade Onchain CLOBs @KuruExchange @CloberDEX @GTE_XYZ @pacifica_fi @Bulletxyz @Lighter_xyz Very few combine distribution + price discovery + market-maker capital in one stack. If Native keeps exporting liquidity through Relay while keeping Core public, the bigger play is not becoming another swap frontend. It is becoming the spot liquidity layer other apps plug into.

. @GIWA_by_Upbit is an OP Stack L2 powered by Upbit Be early will get alpha Here are the early projects I've found so far ↓ Launchpads / Meme @GIWALAUNCHPAD bonding curve + auto-locked LP @JoseonFun launchpad + AMM @lucrari_fi one-click launch + creator tax @cheomafun bonding curve + locked liquidity @Gazuaxyz stock-paired token launchpad @kachidotxyz social trading + meme launch @gasokfun @GIWAForge @GiwaPump @GiwaGasok @memefab_fun @Kimchifunxyz @hamrdotfun @MapaeGiwa DeFi / Trading @AmmoraHQ dynamic liquidity @GiwaterFinance liquidity layer @OsigeExchange DEX @CheomaYield_xyz yield/vaults @quadrixfinance onchain asset management @heronprotocol DeFAI allocation @custosfinance RWA trading @CallPutApp onchain options @zeoul_dex DEX @gosodax liquidity infra @Naru_giwa KRW-native trading terminal Consumer / Gaming @SuperWalk_ move-to-earn @ShortChall social challenges + rewards @TheBingoFi GameFi @jumak_app Joseon pixel NFTs @pabalx onchain horse racing AI / Social / Other @Vitlane_ agentic commerce @Flizyapp chat-based crypto UX Early memes already forming too: @Gaejuki_Giwa @Loopy_GIWA @Deoksangi Most L2s launch first and then fight for users. GIWA potentially starts with Upbit sitting behind the ecosystem. If that exchange distribution eventually moves onchain, these early apps could be playing with a very different funnel. Still very early

The robotics launchpad trade is still early. @machinedotfun is still in Phase 1 with no public tokenized robotics catalog live yet. Phase 2 is finding x100 your bag Built by @codecopenflow + @peaq, its Foundry already takes hardware teams from prototype toward production, including 5 days working with factories and suppliers in Shenzhen. The setup I’m watching: solana:69LjZUUzxj3Cb3Fxeo1X4QpYEQTboApkhXTysPpbpump - $11MC $PEAQ - $90MC @machinedotfun funding + token launches @machinedex liquidity And I’m already mapping robotics names before that market gets crowded: - @axisrobotics - $AXIS pre-TGE; 5.5M+ robot trajectories, 200K+ contributors, $12M seed. Current community sale values it at $100M FDV with a $1M round. - @BitRobotNetwork pre-token robotics subnet/network play - @homebrewrobots - $BREW robot operations + data - @realRiceAI - $RICE robotics data economy - @Auki - base:0xf9569cfb8fd265e91aa478d86ae8c78b8af55df4 spatial infra for robots - @xmaquina - $DEUS established onchain robotics capital-market reference None of these are confirmed Machine(.)fun listings. The first Machine(.)fun listings are still ahead, while the robotics ecosystem around it is already taking shape. My play is to keep the established robotics names as anchors, then hunt the smaller / pre-TGE names before liquidity and attention arrive.

Robinhood Chain hit nearly $1B TVL in under 3 months. Most eyes are still on memes and tokenized stocks. Meanwhile, 8 AI infra plays are turning fees, staking and idle GPUs into inference > @orbiodotso robinhood:0xaa07a0e9209e16ac99708c3ec70159c6ef3128a3 Trading fees fund inference credits across 400+ AI models. > @manyways_rh robinhood:0xa26992c4268a8a78a4d872fe4bdad2ed03ac287d Multi-model inference router, expanding into agent workflows, wallets and tools. > @Cerebro_RH robinhood:0xeb24a2663af4ee979dcbfe39cb95b5f12d369c4b Trading fees fund AI inference credits, with marketplace and launchpad utility. > @Entelic_Aria $ARIA / $ACU Stake ARIA to mint ACU and unlock recurring model credits. > @sablenetwork robinhood:0xf7894d31d569e6330592d346ecfefdf4257f3ec1 Metered AI inference + isolated execution built for autonomous agents. > @Fab_RWA $FAB Run GPU workloads and earn rewards tied to tokenized NVDA, TSM, AAPL and SK Hynix. > @onmodam $DAM Decentralized GPU compute where agents buy inference and providers earn from serving demand. So Robinhood Chain may be developing something broader than another AI-token meta. It is starting to experiment with inference as an onchain financial asset. And with stock tokens already native to the chain, AI compute + tokenized markets is probably the part I’d keep watching next

99.4% of the vote backed bringing $ZETA to Solana. The @ZetaChain migration keeps $ZETA 1:1 under the same ticker, with balances and vesting carried across. On the product side, @AnumaAI is now at the center of the private AI push: + 300K+ users + 1M+ AI requests + 35 AI models + 14 providers + 290K conversations in the last 90 days Its Private Memory Layer has been in production since February, with users deciding how their memory is accessed and what context each request receives. The token schedule is also nearing the end of team and investor unlocks, with four monthly unlocks left and the final one in January 2027. Good team adaptation to gainer narrative

$5B gold tokens. $361M XAUT collateral. $587M gold perp OI. Onchain gold is becoming more than a wrapper. There are 3 ways to play gold onchain right now: 1️⃣ Hold / Spot @tether - XAUT @Paxos - PAXG @KinesisMonetary - KAU @Matrixdock - XAUm XAUT + PAXG still dominate supply, with most spot volume happening on CEXs. 2️⃣ Earn / Borrow @aave - ~$361M XAUT collateral @Morpho - XAUT + PAXG credit markets @Theo_Network - thGOLD Theo takes a different route: thGOLD uses gold for inventory financing, turning an otherwise non-yielding asset into roughly 2-4% yield. 3️⃣ Trade / Leverage @HyperliquidX @Lighter_xyz @Ostium @avantisfi @Ondo TradeXYZ Variational edgeX Gold perps now sit at roughly $587M OI + $712M 24h volume across venues. So the market is moving from simply holding gold to using it for credit, yield, and leverage. Now I’m watching which layer captures the most value.

Stonk is moving beyond tokenized stocks. I'm doing deep research and breakdown them down below ➩ At first, they became quoted assets. @longdotxyz, @LaunchOnSF, @pairdotfund and @emberscurvesfun let new tokens trade against stock exposure. Now smaller teams are pushing the same primitive further. @LaunchHoodFi is experimenting with permissionless stock-paired launches, while @nftstockpair applies the idea to NFTs backed by stock reserves. ➩ Then trading activity started creating stock demand. @MyDivvyApp and @OTCDeskOfSol turn fees into stock rewards. @Tributary_RH routes part of protocol fees into permanent stock liquidity, while @tickerspring is exploring yield, vaults and lending around tokenized stocks. ➩ The next layer is deeper financial use. @lightlending is moving stocks toward collateral. @PerpetualsWTF is experimenting with tax-funded perp vaults and custom strategies. ➩ And the app layer is starting to form around the same assets. @OnRecordVote connects stock treasuries with proxy voting. @hoodlmrh brings research and trading into one prompt. @clawpumptech experiments with agents launching stock-paired markets. So Stonk is becoming much broader than stock speculation. Stocks are turning into quote assets, rewards, liquidity, collateral, strategies, governance assets, and agent inputs. Tokenization brought equities onchain. Stonk is turning them into crypto-native primitives.

This is probably the cleanest Arc thesis so far. @arc handles the rails: USDC gas, sub-second finality, built-in FX. @UseCtrlMoney is going after the consumer layer on top send, request, and manage USDC from day one. If Arc becomes the chain for moving dollars, the real battle starts at distribution and UX. $CTRL launching day one makes that pretty interesting.

➟ @arc mainnet is 4 days away. Here’s the full ecosystem watchlist you need before Sept 16. DeFi, RWAs, DEXs, launchpads, AI, payments, tools and NFTs all in one thread. Mega thread

Robinhood Chain is turning Stock Tokens into real DeFi primitives. ~$900M TVL ~$1B stablecoins ~$270M active RWA market cap The interesting part is what builders are doing on top. 10 Robinhood RWA projects in my watchlist: @prismassets - RWA terminal aggregating 1,000+ tradable assets. @longbowlend -lending against Stock Tokens and other Robinhood assets. @PareStocks - splits tokenized stocks into principal + future dividends. @fablesfi - DEX built specifically for tokenized equities. @twofoldfi - LP capital earns lending yield while waiting for swaps. @EARNONHOOD - turns Stock Tokens into managed yield positions. @StaticsProtocol - programmable baskets of tokenized stocks. @ArrowFinanceio - lending + risk infrastructure for tokenized assets. @RKST_xyz - private-market exposure around the space/rocket sector. @longdotxyz - MemeFi × StockFi through pairs like AI/NVDA and MEME/AMC. Stock Tokens are becoming building blocks. Trade them, LP them, borrow against them, split their cash flows, package them into baskets and build yield on top.

Robinhood Chain went from mainnet to a ~$900M DeFi ecosystem in just over 2 months. The growth is getting hard to ignore. @RobinhoodCrypto Chain now sits around $900M DeFi TVL, $1B+ stablecoins and billions in weekly DEX volume. Stock Tokens are also starting to move beyond simple spot exposure. - @ponsdotfamily has become one of the biggest activity engines, turning Stock Tokens into quote assets for memestock launches and pushing a large share of trading through @Uniswap. - @Uniswap is the main liquidity layer for those markets. - @Morpho has become the core credit layer, with hundreds of millions in deposits and outstanding loans across Robinhood Chain. What I’m watching next - @longbowlend is bringing credit directly to Stock Tokens, letting users borrow against stocks, RWAs and other Robinhood-native assets. Its TVL recently grew 122% in four days, while active loans grew 241%. - @mastbond is expanding Stock Tokens into lending and portfolio products, with AAPL, GOOGL, NVDA, SPY and TSLA lending markets already live. - @arcus_xyz is pushing them toward leveraged trading through perps and transferable pTokens. - @StockYieldMoney is experimenting with another DeFi primitive: splitting Stock Tokens into principal + yield claims, alongside baskets and options. - @arrowsonhood is building fully collateralized options on TSLA, NVDA, AAPL and other Robinhood Stock Tokens. Robinhood Chain is moving from trading tokenized stocks to building a full DeFi stack around them. The next growth phase will come from making Stock Tokens increasingly productive onchain assets.