Uniswap

That's up from $12 million a year ago, so 25x.

So Uniswap V3 and 4 is the biggest venue with about $86 million in deposits.

By chain, it's Solana and Robinhood that lead, each with roughly $80 million to $95 million.

So shares in companies like Apple, Tesla, Nvidia issue tokens back one by one by real shares.

I find this to be like wonderful and crazy and weird and strange and kind of bad for user experience, but super, super cool.

So 11 new Uniswap stable pairs of Ondo stocks are on Robinhood.

I'm going to go over to the Uniswap thing here, which is basically Uniswap retweeting that same tweet.

And they're talking a little bit about this thing they call this stable pair hook.

So basically what that thing does is if the price is starting to drift away from peg, the fees start going up quite a bit so that, you know, it doesn't drift, drift, drift, drift like crazy.

Now users are going to be like, oh, which like Tesla stock should I buy? The Ondo one or the Robinhood one? But it also highlights how awesome like crypto is that like a company can just be like, yeah, we're going to sell our stocks on your chain.

competitor and see who wins, right? I think that's pretty awesome.

Now over to Uniswap using this stable swap hook, I'm pretty sure that Ondo Finance stocks are not pegged one to one.

All right, George, let's look at those top decentralized exchange metrics.

Uniswap is significantly leading with $1.97 billion in 24-hour volume.

Behind that, we have Arrow Protocol at $665.66 million, PancakeSwap with $622.86 million, Pump bringing in $310.94 million, and Manifest Trade at $229.94 million.

Uniswap's massive dominance underscores deep liquidity, yet these other figures show growing activity across diverse ecosystems.

And as we talked about at the beginning of the episode, Satoshi, the volume of stablecoins isn't looking that great.

Tether USDT's volume is down to $56.45 billion.

My assumption is that, you know, there was a hack that went on and they looked at our addresses and just saw their addresses and not, you know, smart contracts or whatever.

They just kind of assumed that it was just, you know, a random address and not so much a DeFi protocol and just kind of, you know, banned our addresses without knowing what they were actually banding so once we had reached out to them which took a little while to make contact and i think they reversed their position i think any uh stable coin centralized stable coin that starts to block or ban or whatever d5 protocols whether it be one or many i think that would be like suicide right because At that point, like if I'm holding Tether and I'm an LP in like Uniswap, for example, I'd be like, whoa, okay.

I don't want my funds to get stolen.

So I'm going to withdraw as an LP from Uniswap, which is obviously in terms of Uniswap to be considering that hypothetical scenario.

But also everybody's going to be selling their Tether and buying a competitor of some kind because it's just, there's too much risk involved at that point.

It's so crazy that something like that can happen and happen that I think when we use crypto and DeFi and numbers show most people prefer to use USDT or USDC, both are controlled by centralized entities, Tether and Circle.

And it seemed like at a flip of a switch, at DeFi, a smart contract, you know, a vault holding these cryptocurrencies can be frozen.

And yeah, you mentioned like, okay, it happened on Florentine.

There are no refunds, no field launch.

Everything raised is paired with TMF in the Uniswap pool at 1% fee tier, locked permanently.

Any TMF the launch did not sell is then burned.

One of the great infrastructure mechanics of the Stompbroker ecosystem.

And so I think we are interested in doing this because, number one, we think that it allows for some assets that are not available yet on Robinhood Chain for various reasons to be available because what it actually wraps is a perpetuals position, which we support through our main line product.

So what you'll be able to do is buy, call it like a 3x hood token like you would any other stock token using Uniswap or using any pools.

And that will reflect in a perpetual position.

that will behave the same.

And I think that made sense at the time because you needed a lot of it.

You know, when you look at like a Uniswap pool, the reason they could give you large trades with very little slippage or price impact was because they had five, $10 million of liquidity in that pool.

But of that liquidity, you know, 80% is typically just sitting idle and only the small amount that's within that price range that people are trading is actually being utilized.

And so every time a trade occurs, those fees being accrued by that pool are being slipped by everybody.