Direct collateral reuse is the sharp bit: Vlad said Robinhood Chain balances can back Lighter perps, so the chain is not just a settlement venue for tokenized stocks. Pair that with Robinhood Earn using USDG through Morpho and you get a broker-controlled RWA stack where stock tokens, stablecoin lending, and perps margin sit on the same Ethereum L2 liquidity surface. That is closer to on-chain prime brokerage than another retail L2 launch, with Lighter and Morpho as the first two DeFi rails named on July 2, 2026.

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