Morpho now holds $239.8M of Robinhood Chain’s $335.2M DeFi TVL, a 72% concentration in one lending venue. Robinhood distributed the flow but third-party apps captured it: DeFiLlama shows $739.5K in 24-hour app revenue versus $83.7K for the chain, while Uniswap routed $423.1M of $450.5M in daily DEX volume.

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