With Stock Tokens TVL reaching over $170M and nearly $50B in DEX volume on the Robinhood Chain, we are getting more questions about what they are and how they work. All Robinhood Stock Tokens are backed 1:1 with real shares in secure custody. And Stock Tokens receive the economic equivalent of dividends and corporate actions returns reinvested into their holdings. In other words, when a new Stock Token is minted, we buy a real share of the company at the same time. What about in-kind redemption and voting rights? Not yet, but they’re coming. Step one is to scale adoption of Stock Tokens. We’re actively working on redemptions for shares 1:1 with voting for eligible Stock Token holders on the roadmap. We know how to do this well: we run a shareholder engagement platform, Say by Robinhood, which allows shareholders to participate in actions like voting. What about the technology? We built Stock Tokens to be composable, which allows developers to build new innovative offerings like we have seen the past few weeks, with many that we have yet to discover. What am I the most excited about? Billions of people in the world don't have access to U.S. investment assets. With Stock Tokens, that era is ending. Any eligible customer with a phone and an internet connection can now get exposure to the most exciting market in the world.