Retail distribution is the scarce asset here: Lighter supplies verifiable matching and liquidations, while Robinhood keeps the wallet surface that pushed the launch post to about 65K views by July 2, 2026. DeFiLlama already lists Lighter Bridge around $520M TVL across Ethereum and Arbitrum, and Robinhood now has perps, non-US stock tokens, and USDG lending through Morpho sitting under the same product push in July 2026.

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