Trading on Robinhood Chain has become heavily concentrated in routes that combine meme tokens with stock-linked assets, creating unusually active liquidity pools and sharply fluctuating fee income for market makers. Swaps commonly pass through several assets — including WETH, USDG and a stock token — before reaching a meme token, meaning liquidity providers can collect fees at multiple points along the route when trading demand accelerates.
Front-end aggregators have frequently routed trades through paths such as WETH→USDG→stock token→meme token. The fomo interface can add another transaction step. That structure has placed pools involving stock-linked tokens and fast-moving meme assets at the center of the network’s early trading activity rather than leaving liquidity concentrated solely in direct WETH or stablecoin pairs.
A post by crypto user 0xanonnnn said certain Uniswap V4 positions configured with high fee levels in stock-token or “LT” meme pools briefly showed daily annualized percentage yields above 100,000%. Such figures annualize a short burst of fee generation and can change rapidly as volume, fees and token prices move. They do not represent a fixed return, and liquidity providers remain exposed to losses if the prices of the tokens in a pool diverge sharply.
Uniswap holds the bulk of Robinhood Chain volume
Uniswap V2, V3 and V4 have accounted for more than 90% of Robinhood Chain trading volume since the network launched, according to the supplied network activity figures. The dominance gives Uniswap’s different liquidity designs a major role in setting the cost and availability of meme-token trading on the chain.
The split between versions also matters. Uniswap V2 uses a conventional constant-product pool, while V3 lets liquidity providers concentrate capital within selected price ranges. V4 expands on that approach through customizable “hooks,” code that can alter pool behavior including fees. In a market where a token can surge or collapse within hours, concentrated liquidity can generate greater fee income when prices stay within a provider’s chosen range, but it can also leave that provider holding more of the declining asset after a sharp move.
The early success of Uniswap has not stopped newer automated market makers from competing for deposits. Five projects — up., Fables, Ramses, Delta and Ekubo — have sought liquidity through newly issued tokens, points campaigns, fee-sharing structures and alternative pool mechanics. Their challenge is to attract enough capital and sustained trading to compete with established Uniswap pools without relying only on short-lived incentive programs.
up. directs protocol revenue to UP holders
up. launched on July 11 as a Robinhood Chain-native ve(3,3) trading and liquidity protocol. The ve(3,3) model generally gives users who lock governance tokens influence over emissions and fee allocation, linking token ownership to decisions over where liquidity incentives are directed.
The protocol issued UP with a maximum supply of 500 million tokens. up. reported a market value of $390 million and said more than half of the supply had been burned. Its initial circulating supply was 20 million tokens, with roughly 1 million tokens entering circulation weekly, placing the circulating market value at about $15 million based on the figures provided.
DeFiLlama showed up. with $12.74 million in total value locked as of publication, ranking it seventh on Robinhood Chain. Its largest pools were UP/WETH, with $2.39 million in TVL, and UP/STONKBROKER, with $1.64 million. The protocol says it distributes 100% of revenue to UP holders. DeFiLlama ranked up. third on Robinhood Chain over the preceding 30 days for revenue distributed to token holders.
That fee-sharing design ties demand for UP more directly to trading activity on the venue. It also makes the protocol dependent on whether liquidity and volume remain after token-launch interest subsides.
Fables combines points with adjustable fees
Fables began operating on Aug. 18 as another native ve(3,3) decentralized exchange. Its main technical feature is a Hook system that lets individual pools use their own fee rules. Rather than relying on a single fixed fee tier, Fables says fees can be set when a trade occurs and adjusted according to time and market volatility.
The project has issued PROLOGUE, a token with a 1 billion maximum supply and a reported market value of $5.7 million. It plans a token generation event for FABLES, its governance token, which will also have a 1 billion-token cap. PROLOGUE holders will be able to convert tokens into FABLES at a 40:1 ratio.
Fables said it intends to airdrop as many as 115 million FABLES tokens to the community at the token generation event. Its six-week points campaign, running from Aug. 24 through Oct. 5, distributes 1 billion points each day across liquidity pools. The TGE is scheduled after the program closes.
DeFiLlama listed Fables with $4.30 million in TVL as of publication. ETH/USDG held $1.97 million, while GLD/USDG held $1.34 million. Those stablecoin-linked and ETH pools suggest that, despite meme-token activity drawing attention, foundational routing assets remain central to liquidity on the chain.
Ramses, Delta and Ekubo pursue different models
Ramses, a multichain AMM launched in 2023, has deployed on Robinhood Chain with a V3-style dynamic liquidity market maker model and no ve governance layer. It introduced a separate RAM token, with a reported market value of about $8 million. Its largest Robinhood Chain pool was ETH/USDG, holding roughly $1 million in TVL, while the protocol’s activity has largely centered on that pair.
Delta launched on Aug. 10 with a more conventional AMM design, offering both two-sided and single-sided liquidity provision. The protocol also supports staking-pool deposits and says revenue is automatically converted into liquidity and added back to pools. Delta reported $1.37 million in TVL and $895,000 in cumulative fees as of publication. Its DELTA token had a reported market value of about $16.8 million, compared with a cited peak of $38 million.
Ekubo, founded in 2023 and previously active on Starknet and Ethereum, added Robinhood Chain support on July 31. The protocol reported $19 million in TVL on Starknet. Its Robinhood Chain deployment held $910,000 in TVL as of publication, with ETH/USDG its most used pool at $96,000.
The competition is increasingly focused on who can hold liquidity after the points and token-distribution campaigns end. High-fee meme and stock-linked pools can be lucrative during bursts of trading, but their returns depend on sustained volume, fee settings and price behavior. On a network where multi-hop routes are already shaping activity, the pools that retain deep WETH, USDG and stock-token liquidity are likely to determine whether new AMMs can convert early incentive-driven deposits into lasting trading markets.
Want to deepen your meme liquidity strategy? Learn how liquidity in crypto trading shapes fees, slippage, and market-making opportunities.
Disclaimer: The content on this page is provided for general informational purposes only and does not represent the views or financial advice of Toobit. We make no guarantees regarding the accuracy or completeness of this information and shall not be held liable for any errors, omissions, or outcomes resulting from its use. Investing in digital assets involves risk; users should independently evaluate their financial situation and the risks involved. For further details, please consult our Terms of Service and Risk Disclosure.
