Sunrise is bringing in more external chain assets to Solana. The latest addition comes from Robinhood Chain. PONSThis has also further intensified the competition between Solana and Robinhood Chain in the areas of spot trading and tokenized stocks.
PONS enters into a trade with Solana
PONS is an launchpad related asset on Robinhood Chain. Sunrise introduces this asset into Solana DeFi through the cross-chain channel supported by Wormhole, enabling it to be traded within the Solana ecosystem.
This is not the first time that Sunrise has brought Robinhood Chain native assets to Solana. On July 10th, Sunrise cross-chained the meme coin CASHCAT from that network to Solana. According to the article, since its launch, CASHCAT has accumulated a trading volume of over 42.4 million US dollars, with more than 5,300 wallet addresses holding the coin.
- New Asset: PONS
- Existing cases: CASHCAT
- Cross-chain infrastructure: Wormhole
Robinhood Chain approaches Solana
The article states that the recent trading popularity of Robinhood Chain mainly comes from the paired trading of meme coins with tokenized stocks, as well as attempts with Uniswap, v4, and hooks. Such strategies have driven a rapid increase in its share in tokenized stock trading.
It is mentioned in the text that Solana once accounted for over 95% of the total tokenized stock trading volume on the entire chain, but this advantage has been significantly diminished by Robinhood Chain and BNB. According to DefiLlama data, Robinhood Chain is also gradually approaching Solana's ranking in terms of DEX spot trading volume.
Regarding the claims from the outside world that the influence of Solana has weakened, Solana does not agree. Relevant personnel from Solana stated that this chain is still in a leading position in terms of RWA growth and TVL, and at the same time, its sustainable contract and stable coin businesses are also expanding.
On-chain funds bet on fluctuations in U.S. stocks
As meme coins and stock pairing trades attract more traffic, some DeFi traders have begun to shift their focus to low-priced or stressed stocks in traditional markets, attempting to leverage on-chain sentiment to drive short-selling tactics. Some even envision gaining seats on the boards of listed companies by continuously buying related stocks.
The article cites an example that the trend originated with the meme coin AI which is pegged to NVIDIA's stock. Some traders believe that if enough holdings of the related token NVDA are accumulated, it could theoretically have an impact on corporate governance. However, such assumptions remain highly speculative.
At the same time, there was a noticeable deviation between the prices of some on-chain stock derivatives and those of the underlying assets in the real market. The article states that after the traditional markets reopened, market makers rebalanced the prices, resulting in losses for some holders.
In the Solana community, there are also discussions about whether it is possible to replicate the gamma squeeze transaction logic from the GameStop event in 2021. As platforms such as Stonk allow users to pair and issue stocks, commodities, and collectibles with on-chain assets, the range of on-chain transaction pairs mapped to traditional financial assets continues to expand.
