While Robinhood is gaining popularity, what are other blockchains doing?

Written by: 0xFacai

$8.15 million in fees per day, $54.3 million per week.

These are the profit figures released today by Pons, the launch platform on the Robinhood Chain.

Leading the narrative of "coin-stock pairing" and "coin allocation," the platform coin is soaring, and "golden dogs" are emerging one after another. Robinhood is attracting on-chain traders to reallocate their funds and time.

For established ecosystems, the threat is already imminent. What countermeasures have they taken?

Solana Officially Promotes Trading Regarding the launch platform, Solana's main focus is on StonkFun. StonkFun allows memes to be paired with stock tokens and other crypto assets. SPY's stock token, ZEC, and other assets can also be used as trading pairs. The trading of memes drives the circulation of these assets on Solana, providing a concrete scenario for token-stock pairing and on-chain asset trading. STONK is StonkFun's platform token. A portion of StonkFun's revenue is used to buy back and burn STONK. The buyback panel shows that StonkFun has cumulatively invested approximately $2.82 million in STONK buybacks, with the buyback curve accelerating significantly in early September. The increased trading activity within the ecosystem translates into buying interest for the platform's token, and the rise in STONK further attracts attention to the platform. The platform also uses a portion of its transaction fees to buy back and burn the top ten tokens by market capitalization within the ecosystem, allocating weight according to market capitalization. This allows leading projects to continue receiving platform support, and the trading activity can also be channeled to the ecosystem's tokens. ZCAT is one of the most prominent examples. An anonymous cat with a paper bag over its head encapsulates Zcash's privacy culture in its meme. It pairs with ZEC on Solana, accumulating reward funds through a 3% transfer fee and converting them into ZEC, which is then distributed proportionally to eligible holders. Players holding ZCAT have a chance to receive ZEC. This is also the logic Ansem emphasized when recommending ZCAT. On September 7th, he publicly stated that he had bought ZCAT the previous day and had already received his ZEC allocation. In his view, those who are optimistic about Zcash's continued rise and its dominance in the current market will also seek out related, more volatile memes; and placing this meme on Solana, where traders have already gathered, is a logical choice. Zcash holders and meme players may not originally be the same group of people. ZCAT provides a point of intersection for both sides: the former can see familiar assets and privacy symbols, while the latter can obtain a trading instrument that is easy to share and can generate ZEC during the holding period. Ansem's role is to bring this logic to a larger group of traders. Even more striking than KOLs' recommendations is Solana's official stance. On the evening of September 7th, Solana's official account unusually posted a meme-worthy image: a person in a suit and tie with a paper bag over their head standing in front of the NYSE podium, with the Solana logo behind them. The caption was simply, "The bag stays on." The paper bag points to ZCAT, and the stock trading scene echoes STONK. Behind this image lies a series of actions. Previously, Solana's official team and co-founder Toly had interacted with StonkFun; Raydium, having integrated its distribution business, also posted a cat-themed tweet, "I love cats," which the ZCAT community saw as a response. The participation of distribution platforms, trading protocols, and ecosystem accounts has continuously amplified ZCAT's popularity. With this relay, both Stonk and ZCAT have reached new highs. However, the official enthusiasm has also drawn dissatisfaction from the Solana OG meme community. KOL JW100X questioned that NEET, which has been operating for a year, has never seen such treatment, yet a new hot topic has been met with widespread discontent after only two days. The official team needs to prove that this support for memes within the ecosystem can benefit more seriously managed projects. The current change is that Solana has at least begun to take the initiative to help the ecosystem. The incompetent Base: Base's situation took a sudden turn when Hunter Biden announced that LAPTOP would be released on Base on September 9th. According to a report by The Wall Street Journal, the team received 30% of the supply, locked for six months and released over two years; the airdrop targets included wallets that had lost money on Trump. For retail investors who have developed a "PTSD" regarding celebrity-issued tokens, it's difficult to rebuild trust based solely on a new name and a small airdrop, especially considering Biden's substantial debt. "Hunter Biden said he didn't know how to pay off his $15 million debt," and now he does. Solana has already experienced the aftermath of the celebrity token frenzy. The dramatic rise and fall of political and celebrity tokens dragged down the ecosystem's reputation, and disputes surrounding meme issuance and trading went to court. The "Pump.fun case" even once named Solana Labs, the foundation, and related executives as defendants. Although the claims against these Solana entities were withdrawn on August 31, the reputational damage and litigation costs Solana incurred serve as a precedent for Base. Moreover, Base's own stock performance is a complete mess. Among the popular Base memes in this round, Basecat and BLUECHIP are two representative high-market-cap stocks. After the LAPTOP news broke, their prices fell significantly, with 24-hour declines of 26.46% and 8.99% respectively. Before new buyers emerge, the announcements of these celebrity coins are primarily attracting the attention of existing players. Those preparing to participate in new projects need to free up funds, while existing memes still need to compete for buying power and maintain community confidence. For Basecat and BLUECHIP, which have already weakened, this competition is more akin to draining existing resources and is hardly something to celebrate as a positive development for the ecosystem. Cobie fiercely defended Base, stating, "Issuing a token on Base does not require Coinbase's permission, and LAPTOP is not a joint issuance by Hunter Biden, Jesse, Coinbase, or Base. The appearance of a token on a permissionless chain does not constitute official endorsement." However, this doesn't explain Base's passive position in this round of competition. While the official platform cannot decide who issues the token, it can decide where to allocate its marketing resources and product capabilities. Traders expect a viable ecosystem: existing projects with room to continue operating, new applications to meet new demands, and new trends to provide participants with more opportunities. In this specific meme-driven market, Base has yet to offer a response commensurate with the Robinhood threat, instead allowing a yet-to-be-issued celebrity token to dominate the discussion. The community's dissatisfaction stems from this discrepancy. BSC, on the other hand, has its own rhythm, relying on a relatively fixed listing path for expectation management and a stable Chinese retail investor base. Furthermore, the rise of FOMO has provided fertile ground for the continuous dissemination of Chinese token narratives, allowing topics previously confined to the Chinese-speaking world to reach a wider audience. Overall, BSC's momentum is steadily improving. Only Base has started to fall behind, watching helplessly as Robinhood becomes the very thing it dreamed of.