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Oli.
Robinhood 链上放量后，ARB 收入叙事一下热起来，但这里最容易被情绪带偏
链上收入看起来很漂亮，Robinhood Chain 的活跃也确实给 Arbitrum 生态带来新想象。问题是，收入到底进了谁的口袋、多少能回到 DAO、多少和 ARB 持有人有关，这几层不能混在一起讲
币圈最爱把“生态赚钱”直接翻译成“代币该涨”，但中间经常隔着协议分成、治理规则、费用归属和市场预期
我觉得 ARB 这波真正值得看的是：L2 技术栈能不能靠别人发链赚钱。如果能，它的商业模式就从“自己拉用户”升级成“出租金融底座”
#Robinhood链放量，ARB收入叙事升温
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