@hwangmikedegen

been spending some time looking into robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d on Robinhood Chain kinda surprised i didn't pay more attention to this one earlier it's been around for roughly two months now, and the chart has already had a pretty decent run but the more i looked into what they're building, the more interesting it got at first i thought it was just another launchpad trying to compete with Pons turns out there's a bit more to it most launchpads make launching a token easy, but they don't give creators much control over how the market actually works you launch, follow the bonding curve, and hope snipers don't eat half the supply before anyone else gets in robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d is trying something different with Black Market Launcher, creators can choose how their liquidity is distributed, which assets their token trades against, and where trading fees go they've got different liquidity profiles: Layered, Even Spread, Single Range, Higher Ground, and Custom the Layered setup is probably my favorite part instead of concentrating everything around one starting price, liquidity can be spread across different ranges that could make it harder for snipers to accumulate huge amounts of supply cheaply doesn't eliminate sniping, obviously but i like that they're actually thinking about market structure instead of just launching another bonding curve they also support multiple pools, stock token pairs, ERC20, DN404, and Uniswap V4 hooks and the initial launch liquidity is designed to stay permanently locked pretty interesting toolkit for builders who want more control over their token economy docs: the DEX side is worth looking at too Abyss has concentrated liquidity pools, flexible trading fees, and quote token fee collection that last part caught my attention projects can collect certain trading fees in assets like WETH instead of constantly receiving their own token which could make treasury management a lot more practical they're also experimenting with hooks, dynamic fees, and automated market making strategies some of this is pretty technical but the bigger picture is simple: they're giving builders more ways to design how their tokens trade whether enough people actually need those features is another question website: now here's the part that got me thinking about robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d itself the protocol has a buyback and burn model according to their docs, distributed WETH protocol fees are allocated as follows: 80% goes to the buyback recipient 20% goes to developers important detail though: that's 80% of the protocol's fee share not 80% of total trading volume or every fee paid on the DEX and buybacks still need to be executed by the treasury so i wouldn't count allocated fees as tokens already burned still, i like the idea of protocol usage potentially creating demand for the token if more builders launch here and more people trade, that could eventually mean more fees available for buybacks but 80% of almost nothing is still almost nothing i'd rather see actual buyback transactions than just a nice percentage on a website proof: i also spent some time looking at the onchain side the late October research snapshot i have showed: market cap: around $5M to $8M holders: roughly 1.4K top 10 holders: around 28% to 30% of supply liquidity: approximately $200K to $300K DEX TVL: around $270K not bad for a relatively young project but there's something i don't love a lot of the trading activity still seems to revolve around robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d itself i want to see more volume coming from other tokens launched through the ecosystem that's how a launchpad starts becoming a real destination instead of just a token people trade GMGN: i also looked into the wallet distribution the research snapshot suggested: bundlers: around 6% launch snipers: approximately 0% smart money: roughly 1% to 2% top 10 concentration: around 28% to 30% reportedly flagged the token as Use Caution and the top 10 concentration is high enough that i'd want to keep an eye on the larger wallets but i haven't independently verified those bundle percentages or mapped every connected wallet so i'm not calling the launch clean what matters to me is whether the large holders are actually independent, how the early supply moved, and whether there are clusters sharing funding sources Bubble Map: Holder explorer: another reason i'm paying attention is the team @hellojintao and @adeepabyss have been pushing product updates over the past couple of months launcher upgrades, more liquidity profiles, stock token support, hooks, and work around Pearl and WPRL there's actual documentation to read and a product to use i appreciate that doesn't guarantee the token goes higher, but at least there's something being built beyond the chart docs: i've also been collecting posts from people paying attention to robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d these three caught my attention: @stitchdegen: @MaxelRowan: @ShifterCrypto: i don't think three posts alone prove there's a major KOL wave forming and i wouldn't confuse social attention with actual protocol adoption but i do think it's useful to watch whether more independent researchers start digging into the product rather than just repeating the ticker now the obvious comparison is Pons Pons has a much bigger ecosystem and stronger distribution Abyss is trying to compete with flexibility rather than just making token launches faster i don't think Abyss needs to replace Pons to succeed if Robinhood Chain keeps growing, there could be room for different launch models but comparing their market caps and calling robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d undervalued by the same multiple would be pretty lazy Pons already has traction that Abyss still needs to earn what i'm watching next is pretty straightforward: more successful launches more volume outside robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d more builders using Black Market Launcher actual treasury buybacks and eventually Black Market Lending, which isn't live yet that last one could be interesting, but i'm not pricing in an unfinished product the main risk here is execution you can build a technically impressive launchpad and still struggle to attract liquidity and with TVL still relatively small compared with the token valuation, the market is already betting on future adoption as for the chart, the earlier move toward $8.55M mc was impressive but i'm not interested in blindly chasing a breakout i'd rather wait for a better setup and see whether the platform's actual usage starts catching up with the valuation i like what they're trying to build especially the liquidity design and the connection between protocol fees and token buybacks but i want more than a good story give me successful launches, real users, meaningful revenue, and onchain buyback proof that's what would make me more confident robinhood:0x15f3385625d7e364c5a6216fbbceadf10fa90e7d is staying on my watchlist ca: 0x15f3385625D7e364C5a6216FBbceadf10fa90e7d chart: website: Docs: If you appreciate me, please use my referral link: DYOR