Chainlink Adds cbBTC Feed to Robinhood Chain

Chainlink has added the price feed for cbBTC, Coinbase's wrapped Bitcoin, to the Robinhood Chain. The CBBTC/USD data feed was added on August 21 and will be used for collateral assessment, liquidation conditions, and price calculations for trading in DeFi applications. Coinbase has mentioned Ethereum, Base, Solana, and Arbitrum as the official supported networks for cbBTC, while Robinhood Chain is not included. cbBTC is a wrapped asset that collateralizes Bitcoin on a 1:1 basis for use on other blockchains. As of the 27th, Coinbase's total reserves were confirmed to be 98,038.75 BTC, with a cbBTC supply of 97,981.95. Robinhood Chain was introduced as a Layer 2 that connects stock tokens and DeFi, launching its mainnet on July 1. The addition of the price feed means that DeFi and real asset infrastructure within Robinhood Chain can reference the price of Bitcoin-based assets. However, actual deposit and withdrawal support and user accessibility need further confirmation. Robinhood Chain is an Ethereum-compatible Layer 2 that uses ETH as its gas token and describes stock tokens as ERC-20 assets. The initial user flow is showing both real asset tokenization and speculative trading occurring together.

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