The Robinhood-led narrative of U.S. stock memes has been hot for over a month, but the development of U.S. stock memes across different chains varies greatly.

· Why is the U.S. stock meme on the Robinhood chain heating up, while the U.S. stock meme on Base seems to have been cast into a cold palace?

· Why has the BNB Chain produced phenomenon-level memes like BullCome and Marscoin, while Solana is left stuttering?

I set out to investigate the compliance paths and ecological infrastructure of U.S. stock tokens on Robinhood, BNB Chain, Base, and Solana to understand why the same round of U.S. stock memes has produced completely different results.

1. BNB Chain

In June 2026, Binance officially launched bStocks. bStocks are issued by BTech Holdings, with each variety corresponding to real underlying stocks and circulating on BNB Chain.

For each new bStock added, BTech Holdings must prepare issuance documents for the corresponding security and obtain Prospectus approval and Official List access from ADGM FSRA. Only after completing the regulatory process does Binance officially launch the corresponding bStock.

→ Currently, bStocks have launched 70 U.S. stock tokens, with a total issuance market value of 687 million.

Thanks to the support from Binance, bStocks are currently one of the highest market capitalization and best liquidity sets of U.S. stock tokens.

However, in the "U.S. stock × meme" game, BNB Chain is slightly slower than Robinhood, mainly stuck in two areas:

👉 Number of U.S. stock tokens

👉 Insufficient coverage of Launchpad for bStocks

The two major Launchpads on BNB Chain are: Four Meme and Flap

🔥1) Four Meme

http://Four.meme recently launched 4Stock, mainly to solve the problem of slow expansion speed of bStocks.

For U.S. stocks like BNC, before the official launch of bStock, http://Four.meme can first use user-submitted USDC to purchase real stocks and then mint 4Stock at a 1:1 ratio based on the actual number of stocks purchased; once the corresponding bStock is launched, it will then support 1:1 conversion.

🔥2) Flap

Flap currently supports 22 bStocks as a meme liquidity pool, significantly more than http://Four.meme, which has led to popular U.S. stock memes like "BullCome" and "MarsCoin," both of which have been launched on Binance contracts.

In terms of Launchpad mechanism, Flap supports custom taxation and can set minimum holding for dividend eligibility, making it inherently suitable for creating more strategies around U.S. stock memes.

The biggest problem for BNB Chain right now is that the launch speed of U.S. stock tokens cannot keep up with the speculation speed. Next door, Robinhood can quickly develop corresponding memes as new stock tokens are launched, and once a U.S. company emerges with a new hot spot, chain memes can also quickly follow suit.

However, the 4Stock launched by http://Four.meme may help fill this gap. BNC has already validated the feasibility of this model, and if the subsequent launch speed can be maintained, U.S. stock memes on BNB Chain are still worth watching.

2. Robinhood Chain

In June 2025, Robinhood first launched Stock Tokens, initially operating on Arbitrum; after the mainnet of Robinhood Chain went live in July 2026, it launched a new generation of U.S. stock tokens, which formally circulate on Robinhood Chain.

In terms of issuance method, Robinhood first obtained approval for a unified base prospectus from the Liechtenstein FMA, and when adding new stocks, it only needs to publish Final Terms for the corresponding target. Therefore, it does not need to re-approve a complete Prospectus for each stock added like bStocks do.

→ Currently, Robinhood Chain has launched 194 U.S. stock tokens, with a total issuance market value of 158 million.

Robinhood is also one of the earliest chains to truly run with "U.S. stock × meme."

@vladtenev has a relatively open attitude toward Robinhood memes, and Robinhood has also continuously launched some native assets on Robinhood Chain.

It is well known that Robinhood has stringent reviews for the listing of crypto assets, so every time a native asset enters Robinhood, it easily attracts additional attention and buying.

Here, we must mention the two major Launchpads of Robinhood Chain: Pons and Long. The mechanism of Launchpads often determines asset strategies and can influence the overall speculation direction of the ecology.

👉 Pons @ponsdotfamily: Currently the largest Launchpad on Robinhood Chain. The platform is divided into V1 and V2, with V1 primarily launching memes and V2 supporting U.S. stock token pools, where creators can earn 70% of fee income.

👉 Long @longdotxyz: The number of supported U.S. stock tokens is slightly more than Pons, and the ticker has uniqueness; once created, it cannot be duplicated. The platform does not support built-in Dev Buy and does not reserve initial tokens for creators.

Due to the differing issuance methods of Robinhood's U.S. stock tokens compared to others, it is slightly faster in issuance speed and superior in the number of U.S. stock tokens, which is an important reason why Robinhood performed better in this round of U.S. stock memes.

3. Base Chain

In July 2026, the Base mainnet launched the B20 standard; in August, Coinbase officially launched U.S. stock tokens, with the first batch including AAPL, GOOGL, META, NVDA, circulated in the form of B20 Tokens on Base.

Its expansion method is similar to bStocks: for each new variety added, a Prospectus must be submitted to ADGM FSRA for the corresponding Certificate, and official issuance only takes place after approval.

→ Currently, the Base chain has launched 10 U.S. stock tokens, with a total issuance market value of 12 million.

Although Base's U.S. stock tokens follow a similar regulatory path to bStocks, the launch speed is noticeably slower, indicating that this compliance path is still in the early adjustment phase. As a result, the scale of U.S. stock tokens on Base is significantly lagging behind the other chains, and U.S. stock memes have not yet formed a significant wealth effect.

Constrained by the number of underlying assets, Base's Launchpad also struggles to perform.

O1 currently supports the 10 U.S. stock tokens issued by Base and has even expanded support to Robinhood Chain, making it one of the Launchpads supporting the most U.S. stock tokens on Robinhood Chain, with many U.S. stock memes performing well on the platform.

In addition to O1, innovative platforms like @Stonks_Exchange and @BaseStonk have emerged on Base, primarily focusing on rate and dividend mechanisms for micro-innovation. Therefore, the biggest issue for Base currently remains the number of U.S. stock tokens. Even if the Launchpad integration speed is fast enough, the lack of rich underlying assets still limits ecological expansion. At this stage, the dividends of Base may actually be more concentrated on the Launchpad Tokens themselves.

4. Solana

Solana is different from the other three chains in that it currently does not have its own "homegrown" U.S. stock token system; it primarily uses third-party issued xStocks.

In June 2025, xStocks was the first to go live on Solana, bringing over 60 U.S. stocks and ETFs. xStocks is issued by Backed, with each token backed 1:1 by the corresponding underlying stock.

Thus, Solana has taken another route ⬇️

Stonk Fun is a new Launchpad launched by Solana. Their idea is that since there are no native U.S. stock tokens, why not expand to include more assets as the liquidity pool.

The types of assets supported by Stonk Fun are diverse, including $ZEC, $HYPE, $TAO, etc., basically encompassing all popular crypto assets that can be used in the liquidity pool.

Although Solana is not particularly prominent in the U.S. stock meme space, it benefits from a broader range of assets. For example, ZCat leveraged the popularity of ZEC to bring external asset interest to the platform's trading. However, based on current performance, the true U.S. stock memes on the platform are still relatively average.

In Conclusion

Looking at the four chains together, it becomes clear that the U.S. stock meme market is not as random as it appears on the surface.

The compliance path determines the speed of asset expansion, the speed of expansion determines the number of tradable assets, and Launchpad and liquidity determine whether these assets can really form a meme market.

Base and BNB Chain's problems lie in the speed of expansion; BNB Chain has already resolved this issue through infrastructure. Base is making slow progress on such matters, with the compliance review of the four targets being stuck for half a month; it is estimated that other chains will have already finished speculating by then.

Solana, despite having top-notch infrastructure and ecosystem developers, has unfortunately chosen a misdirection, as Solana has yet to produce any decent U.S. stock memes, and Pump Fun only introduced stock trading pairs recently.

As of yesterday, tokens related to U.S. stock memes such as PONS have started to pull back, but I tend to believe that this round of hype is merely the end of the first phase rather than the conclusion of the entire narrative.

⭐Currently, everyone has only listed "star stocks," but bringing stocks on-chain will be an inevitable trend. In the future, when ETFs, commodities, and even more traditional assets can be quickly moved on-chain, the liquidity pool for memes will continue to expand, and the competitive focus between chains will shift accordingly.

💰Different assets will lead to different speculation directions. Today it is U.S. stock memes; tomorrow it may just as likely be ETF memes, commodity memes, or even more traditional assets' on-chain strategies.

The real point of attention moving forward is the speed at which various chains can expand their U.S. stock tokens. The chain that can more swiftly transition more real-world assets onto the blockchain will have a greater opportunity to take the lead in capturing new market hotspots, further influencing the next phase of on-chain speculation direction🔥.

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