TwoWolves

RWA wolf

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Meme wolf

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Each wolf is drawn at an area proportional to its share of the last 24 hours of DEX volume. Neither of them chooses where the line falls.

Who is gaining ground

Share of daily DEX volume. The boundary between the two bands is the same line that cuts this page — when it falls, the meme wolf is eating.

What the RWA wolf is eating

The busiest Robinhood Tokens by 24-hour volume, summed across every pool on the chain.

Where the two wolves came from

“Why not both?”

Robinhood’s head of crypto, Johann Kerbrat, was asked about that post by Decrypt on 8 August 2026 and used it to describe the whole chain: a balance between serious products — tokenised equities, derivatives — and the memes that bring attention and users. “We want to show customers that we care about what they care about,” he said. In the same interview: nearly $800M of total value locked and more than 200 million transactions in the network’s first month, with roughly 200 tokenised stocks trading. Read the interview →

This page takes that framing at face value and keeps score. It is not a criticism of the design. Two wolves is an accurate description of a chain trying to be two things at once, and the interesting question is which one the market actually feeds.

Methodology

1. The RWA wolf is every ERC-20 on chain 4663 whose on-chain name carries the “• Robinhood Token” marker — the naming convention Robinhood’s tokenised equities and ETFs use. The list is read from the Blockscout token index every day, so new listings are picked up automatically; nothing is hard-coded. For each token we sum 24-hour volume across every pool where it is the base asset, via DexScreener (chain slug robinhood). Base-only avoids double-counting a token quoted against another.
2. The chain total is DefiLlama’s aggregate DEX volume for robinhood-chain.
3. Everything else is the remainder: chain total minus RWA. It includes memecoins, but also stablecoin pairs, wrapped assets and anything else that trades. It is the honest name for “the other wolf”, not a pure memecoin figure.
4. Source mismatch. The two numerators come from different aggregators, which index slightly different sets of pools. The share is more robust than the absolute dollar figures; read it as a direction, not an audited accounting.
5. Cadence. One snapshot per day, appended to a public history file. Nothing is ever back-edited; the raw JSON behind this page is at data/latest.json and data/history.json.