Using stocks to issue MEME is blurring the boundaries between on chain assets and stock tokens. This time, Robinhood Chain has launched a new cycle on the encrypted chain, pulling in recent data from RC, which is very impressive. It has to be said that Hood's team action execution is still very strong, which has allowed the market to appreciate the previous experience here https://(x.com)/qinbafrank/status/2052949436985434604? S=46&t=k6rimWs Ebo2D2TXolYcM-A refers to the trait of being a 'bad kid'. I personally think the biggest highlight is the Robinhood Chain, where there is already a gameplay of using stock tokens and Meme coins to form an LP pool. Some are called coin stock pairing, while others are called US stock Meme, which basically means the same thing. At first, two Launchpads (bankr and LONG) on the RC chain opened up their functions: when sending new Memes, the bottom pool no longer uses ETH/USDG, but directly tokenizes US stocks with more than 90 tokens on the chain (NVDA, TSLA, AAPL, SPY, etc.). So pools like Meme/NVDA and Meme/SPY appeared on Uniswap. Trading these Memes will directly generate trading volume for stock tokens, while locking a portion of the stock tokens into the pool. This is also one of the reasons why the trading volume of tokenized US stocks on Robinhood Chain later surpassed that of some competitors on Solana. Hood officially did not make "using stocks to send Meme" an official product. Vlad Tenev later said in a podcast that the developers had created a liquidity pool they did not expect at the time, combining Meme, encrypted assets, and stock tokens. Meme became the entrance to direct users to real stock tokens, and its development exceeded the company's expectations. It can be said that this is a natural result of permissionless deployment on the chain. From my perspective, the significance is still significant: 1. RWA has finally found a 'usable cold start' The call for tokenized stocks has been going on for over a year, but the assets have been put on the chain with limited usage scenarios. On Robinhood Chain, Meme first pulls people, fees, and attention, and then uses pools such as "Meme/NVDA" and "Meme/SPY" to feed back trading volume to stock tokens; 2. This time, stock tokens have truly become "programmable building blocks" Previously, most tokenized stocks were limited to being "tradable and watchable". Now there is a new usage: when the Launchpad bottom pool (changes the Meme pricing unit); Lock in LP to objectively reduce floating funds in circulation; The transaction fee will be returned to the community treasury, and then the corresponding stock tokens will be hoarded Further integration with lending, index, and agent product portfolios This means that the industry is shifting from "putting stocks on the blockchain exhibition" to "using stocks as DeFi primitives". This is the true direction of tokenization: composability, rather than creating another on chain brokerage page. 3. The underlying liquidity on the chain may not necessarily be tied to native coins on public chains. In the past, when sending Meme, there were almost only public chain tokens or stablecoins such as SOL, ETH, BNB, etc. on the opposite side. Now there is an additional option: using a real stock as the quoted asset. Launchpad has transformed from a pure soil dog factory to a distribution layer that connects encrypted attention and TradFi targets This will force other chains and platforms to think: can stocks, treasury bond and gold all be paired assets? 4. Greater significance: The boundary between encryption and the stock market is being blurred, and what really stimulates this is the mind, not TVL. But for the first time, users can simultaneously access the same pool: encrypted native high volatility speculation and traditional pricing anchors such as the US stock market, linking speculative traffic and real financial assets together for the first time. This will reinforce a trend: high-quality financial assets will continue to be broken down into tokens, re priced, redistributed, and recombined on the chain. This Rongbinghood chain has set a good example for other traditional finance to enter the public chain: TradFi does not necessarily have to become a serious financial special zone before entering the chain. Making the chain live first, and then embedding one's own assets into existing speculation and DeFi behavior, may be faster than "compliance first, waiting for others later". This goes further than 'the stock market is already on chain': speculative markets are beginning to be willing to use tokenized stocks as distribution channels. These new gameplay styles deserve continuous attention.