I think DeFi just found its next substrate: the entire stock market.

A few thoughts on the DeFi renaissance brewing on Robinhood Chain:

1. Wrapped stocks are unlocking something we've mostly been missing all these years: on-chain exposure to real-world value.

2. Integrating stocks into LP pools with memecoins, building gamblefi around them, amassing stock-based treasuries, etc. is turning DeFi from a PVP murderground into something far more interesting (and sustainable). It's new raw material for all sorts of financial alchemy.

3. The shipping velocity and quality of these protocols is pretty mind-blowing. They're clearly AI-augmented. So DeFi 1.0/2.0 was about humans trying to milk us with the next great ponzu. Now it's humans + AI. And soon enough humans will be optional. That means experimentation is going to move much faster, and become more entertaining, addictive and weird. DeFi summer protocols required expensive human devs (who spent half their time yield farming). Sherwood Summer is going to be AI-led.

4. The most interesting thing to watch will be how Robinhood integrates DeFi into its flagship app. Most people can't be bothered to set up their own wallets, and probably shouldn't have to. That means crypto's next big influx of capital will likely come through Wall Street's existing trading apps.

5. Beyond the US, though, stock wrappers really are giving billions of people access to financial upside they've historically been shut out of. It's probably one of the most powerful things crypto has ever done. A global market that's open 24/7, accessible to anyone with a phone. It all used to feel like a dream, but now that it's finally here, we kind of shrug. And we're shrugging right at the moment things could go parabolic.

https://x.com/redphone/status/2093343948332843277