## Identity

- Display name: “Robinhood Chain”; Type: “Other”; host chain: Ethereum. [L2BEAT project summary](https://l2beat.com/layer2s/projects/robinhood#summary)
- TVS: $2.28 B, read on 2026-10-27. [L2BEAT TVS](https://l2beat.com/layer2s/projects/robinhood#tvs)
- Badges: “EVM”, “Ethereum with blobs”, “Built on Arbitrum Orbit”, and “L3 Host Chain”. [L2BEAT badges](https://l2beat.com/layer2s/projects/robinhood#badges)

## 1. Stage

Robinhood Chain is “not even a Stage 0 project.” [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)

- Warning: “The requirement for available node software is under review”. [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- Stage 0 — met: “A complete and functional proof system is deployed.”; “The project calls itself a rollup.”; “State roots are posted to Ethereum L1.”; “Inputs for the state transition function are posted to Ethereum L1.” [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- Stage 0 — under review: “A source-available node exists that can recreate the state from Ethereum L1 data. Please note that the L2BEAT team has not verified the validity of the node source code.” [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- Stage 0 — unmet: “Fraud proof submission is not sufficiently decentralized.” [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- Stage 1 — met: “Users are able to exit without the help of the permissioned operators.”; “The sources of all programs used are public and program hashes can be independently regenerated.” [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- Stage 1 — unmet: “Compromising ≥75% of the Security Council should be the only way (other than bugs) for a rollup to indefinitely block an L2→L1 message (e.g. a withdrawal) or push an invalid L2→L1 message (e.g. an invalid withdrawal) with a <7d exit window.”; “Upgrades executed by actors with more centralized control than a Security Council provide less than 7d for users to exit if the permissioned operator is down or censoring.”; “The Security Council is not properly set up.” [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- Stage 2 — unmet: “Fraud proof submission is open only to whitelisted actors.”; “Upgrades unrelated to onchain provable bugs provide less than 30d to exit.”; “The Security Council's actions are not confined to onchain provable bugs.” [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- L2BEAT cautions that stages “do not reflect project security” and are an opinionated assessment of maturity/decentralization. [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)

## 2. Proof system

- State Validation: “Fraud proofs (INT)”. L2BEAT says: “Fraud proofs only allow 2 WHITELISTED actors watching the chain to prove that the state is incorrect.” [L2BEAT risk analysis](https://l2beat.com/layer2s/projects/robinhood#risk-analysis)
- Proofs are live: “Fraud proof system is fully deployed but is not yet permissionless as it requires Validators to be whitelisted.” [L2BEAT risk summary](https://l2beat.com/layer2s/projects/robinhood#risk-summary)
- Proposing and challenging are not permissionless: the Permissions section assigns the ability to “propose new state roots (called nodes) and challenge state roots on the host chain” to only “2 EOAs” (EOA 2 and EOA 3). [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- Challenge period: “6d 8h challenge period + 2d execution delay”; an unrivaled assertion “can be confirmed after the challenge period has passed, currently set to 6d 8h.” [L2BEAT risk analysis](https://l2beat.com/layer2s/projects/robinhood#risk-analysis) [L2BEAT State validation](https://l2beat.com/layer2s/projects/robinhood#state-validation)

## 3. Exit window and upgrades

- Exit Window: “None”. “There is no window for users to exit in case of an unwanted upgrade since contracts are instantly upgradable.” [L2BEAT risk analysis](https://l2beat.com/layer2s/projects/robinhood#risk-analysis)
- On Ethereum, Robinhood Multisig 1 (7/8) can upgrade, “with no delay”, Inbox, RollupProxy, UpgradeExecutor, L1GatewayRouter, EdgeChallengeManager, L1ERC20Gateway, SequencerInbox, RollupEventInbox, Bridge, TimelockController, Outbox, L1WethGateway, and L2UpgradeExecutor. [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- On Ethereum, Robinhood Multisig 2 (6/8) can upgrade that same listed L1/L2 set “with 7d delay” through TimelockController; the listed route to L2UpgradeExecutor is “TimelockController with 7d delay → UpgradeExecutor → L2UpgradeExecutor → ProxyAdmin”. [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- On Robinhood Chain, Robinhood L2 Multisig 1 (7/8) can upgrade L2UpgradeExecutor and TimelockController “with no delay”; Robinhood L2 Multisig 2 (6/8) can upgrade those two “with 7d delay”. [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- At the L2UpgradeExecutor contract level, L2BEAT additionally lists EOA 1 and Robinhood L2 Multisig 2 as 7d-delay upgraders, alongside Robinhood Multisig 1 and Robinhood L2 Multisig 1 with no delay and Robinhood Multisig 2 with 7d delay. [L2BEAT Smart contracts](https://l2beat.com/layer2s/projects/robinhood#smart-contracts)
- Other named multisigs and thresholds: Robinhood Multisig 3 (3/7; member of Multisigs 1 and 2), Robinhood Multisig 4 (2/3), Robinhood L2 Multisig 3 (3/7; member of L2 Multisigs 2 and 1), and Robinhood L2 Multisig 4 (2/2; sets gas-pricing constraints within hardcoded bounds). [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- L2BEAT does not label any listed actor a “Security Council”; its Stage result nevertheless says “The Security Council is not properly set up.” [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions) [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)

## 4. Data availability

- Data availability: “Onchain”. “All of the data needed for proof construction is published on Ethereum L1.” [L2BEAT risk analysis](https://l2beat.com/layer2s/projects/robinhood#risk-analysis)
- L2BEAT’s DA description says the state-construction data is published on chain “in the form of cheap blobs or calldata”; its badge and tracked DA submission identify the current method as Ethereum blobs. [L2BEAT Data availability](https://l2beat.com/layer2s/projects/robinhood#data-availability) [L2BEAT badges](https://l2beat.com/layer2s/projects/robinhood#badges) [L2BEAT data posted](https://l2beat.com/layer2s/projects/robinhood#data-posted)
- DAC: NOT FOUND. L2BEAT lists DACs only as a RollupProxy-admin capability, not an active DAC or a DAC threshold. [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)

## 5. Sequencer and forced inclusion

- The system has “a centralized sequencer”; Permissions identify EOA 4 as able to “submit transaction batches or commitments to the SequencerInbox contract on the host chain.” [L2BEAT Operator](https://l2beat.com/layer2s/projects/robinhood#operator) [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- Sequencer Failure: “No mechanism”. “There is no guaranteed mechanism to have transactions included if the sequencer is down or censoring.” [L2BEAT risk analysis](https://l2beat.com/layer2s/projects/robinhood#risk-analysis)
- Proposer Failure: “Self propose (28d delay)”. “Anyone can become a Proposer after 28d of inactivity from the currently whitelisted Proposers.” [L2BEAT risk analysis](https://l2beat.com/layer2s/projects/robinhood#risk-analysis)
- Users can enqueue delayed L1 messages and then call `forceInclusion`; the bound is “the minimum between 4d and the time left in the delay buffer.” It is not a reliable censorship escape hatch: an authorized filterer can make even an L1-force-included transaction fail “without delay.” [L2BEAT Sequencing](https://l2beat.com/layer2s/projects/robinhood#sequencing) [L2BEAT Operator](https://l2beat.com/layer2s/projects/robinhood#operator)

## Stage history since 2026-04-27

- No stage change found between 2026-04-27 and 2026-10-27. L2BEAT’s milestones in that interval are public-testnet launch (2026-02-10, before the window) and mainnet launch (2026-07-01); neither records a stage change. [L2BEAT Milestones](https://l2beat.com/layer2s/projects/robinhood#milestones-and-incidents)
- The current project banner remains “Robinhood Chain is not even a Stage 0 project” with the node-software requirement under review. [L2BEAT Stage](https://l2beat.com/layer2s/projects/robinhood#stage)
- The Robinhood config was added by “[Add Robinhood chain (full)](https://github.com/l2beat/l2beat/commit/167aafe84eb65da4d711e3031b6a4df3d5d23fb8)” on 2026-07-03. I checked the [config-file history for the requested window](https://github.com/l2beat/l2beat/commits/main/packages/config/src/projects/robinhood/robinhood.ts?since=2026-04-27&until=2026-10-27): it contains no `stage` field change, so there is no commit URL/date of a stage-field change to report. [current config](https://github.com/l2beat/l2beat/blob/main/packages/config/src/projects/robinhood/robinhood.ts)

## Not found

- NOT FOUND: a named person or organization operating the sequencer. L2BEAT calls it a centralized/privileged sequencer and identifies EOA 4 as the batch submitter, but does not attribute that EOA to a named operator. [L2BEAT Operator](https://l2beat.com/layer2s/projects/robinhood#operator) [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- NOT FOUND: an active DAC and DAC threshold; checked L2BEAT’s Data availability and Permissions sections. [L2BEAT Data availability](https://l2beat.com/layer2s/projects/robinhood#data-availability) [L2BEAT Permissions](https://l2beat.com/layer2s/projects/robinhood#permissions)
- NOT FOUND: a project-node/prover software release and release date. Checked L2BEAT’s project page, including State validation and Program Hashes; it identifies “ArbOS wasmModuleRoot v61” but gives no software-release date. Per the assignment restriction, no non-L2BEAT source was used. [L2BEAT State validation](https://l2beat.com/layer2s/projects/robinhood#state-validation)