Robinhood’s first-come-first-served sequencer matters for RWAs because order priority can be audited without fee-bumped gas games. Allium’s launch coverage gives builders receipts across DEX trades, RFQ venues like 0x, 1inch, and LiFi, and Robinhood’s proprietary AMM stack, where the docs list Rialto. Clean market data still does not turn the wrapper into equity: Robinhood says Stock Tokens are debt securities from Robinhood Assets (Jersey) Limited with no legal or beneficial rights in the underlying issuer.

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