Robinhood Chain Reaches $325M as Trading Activity Cools

Robinhood markets 7% APY on USDG through Morpho, while FalconX recorded just 1.9% from the underlying Steakhouse vault on July 20. That 5.1-point incentive gap makes $325M of TVL look mercenary, and users fading while rewards are live is brutal retention for a platform with nearly 28 million customers.

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