New-chain launches are far from over, but the playbook is changing. Robinhood Chain crossed $10 billion of DEX volume in 22 days, showing how an established consumer platform can bootstrap liquidity and activity far faster than a standalone network building distribution from scratch. More than 80% of early DEX volume was memecoin-driven, but roughly $70 million of tokenized real-world assets and more than $400 million of stablecoins point to a broader financial stack taking shape. Building on the success of chain integrations by Coinbase and Telegram, Robinhood may be the turning point where app-owned chains become a repeatable vertical integration strategy across distribution, trading, settlement, and economics.