It has been a week since the Robinhood Chain has launched, and the momentum has been rapidly increasing. It's been awesome to see. The early success of the Robinhood Chain is an illustration of my vision for what success looks like for the two foundations it is built on top of: Ethereum and Arbitrum. Ethereum: Robinhood utilizes $ETH as the native gas token of the chain. In other words, for every transaction to occur someone needs to be holding and spending $ETH. This motion continues to cement $ETH as the native onchain asset across the programmable economy. All the major trading pairs on the chain right now are utilizing WETH on Uniswap. Bringing on 27m users into Ethereum's sphere of influence is a generational and historic moment for Ethereum. Arbitrum: Robinhood's tokenized equities have been housed on Arbitrum One for the last year, prior to the launch of the Robinhood Chain. The Robinhood Chain is now utilizing the underlying Arbitrum stack to power its experiences. The way the license works, Robinhood shares with the ArbitrumDAO Treasury 10% of its transaction fee profits for utilization of the technology. So, while Arbitrum One remains the core focus and priority for supporting enterprises, startups and protocols, the monetization strategy extends with their growth motions. I look forward to continued and deepened collaboration between Arbitrum and Robinhood across a number of different initiatives. Building business models that align with the success of the adoption of the underlying technology has always been necessary, but has become absolutely critical as investors are looking more at capture than proliferation today. Both Ethereum and Arbitrum are extremely well set up as the onchain economy increases 100x in the coming years. Ethereum for settlement and medium of exchange. Arbitrum for execution, scalability and cusomizations. Powerful combination with a lot more to come. The playbook is being written as we speak.