How should we define this new trend in the bull market led by @RobinhoodCrypto? 1) DeFi 2.0: Over the past few years, the crypto industry has been innovating around DeFi. Forget 2.0—there’s probably already talk of DeFi 3.0, which essentially aims to advance DeFi. But originally, DeFi was about leading a decentralized financial revolution. The integration of TradFi and DeFi wasn’t meant to be purely about decentralization, especially since Robinhood itself plays the role of a brokerage institution. Emphasizing DeFi here doesn’t seem quite right. 2) StockFi: At first glance, this sounds pretty fitting, since the narrative around the Rh chain is about bringing traditional real-world assets like stocks onto the blockchain. Then, there’s a series of derivative plays around stocks—collateralization, bundling, dividends, etc.—which kind of makes sense. But framing it this way feels less exciting and dynamic, and it somewhat sidelines newly issued crypto assets. If stocks become the foundational layer, then what does that make the new assets issued on-chain? 3) BrokerFi: After thinking it through, I feel like BrokerFi fits better. Robinhood’s positioning is inherently that of a broker—a licensed brokerage distributing tokenized stocks, wallets, lending, perpetuals, and agent-based mechanisms, all pieced together to play on-chain. The goal is to drive routing and transactions more efficiently. Plus, BrokerFi emphasizes innovation in the distribution process—the soul lies in how distribution is incentivized, how Ponzi-like mechanisms are structured, and how stickiness is increased. It’s spot on! So, shout it loud: BrokerFi BrokerFi BrokerFi