Long has launched LongX on Robinhood Chain, with its first product, NVDA 3x Long (NVDAx3L), packaging a 3x leveraged Nvidia position from the Lighter platform into an ERC-20 token. Foresight News posted on X (formerly Twitter). The token is issued through LongX's vault contract, and minting is open to all users. Anyone who deposits funds can mint shares at the current net asset value, while the underlying position is held and rebalanced by the protocol on Lighter.

The token's net asset value is calculated in real time after @Lighter_xyz submits state proofs to Robinhood Chain in batches. Secondary market trades execute at market prices, while primary market minting and redemption are based on net asset value, which can create a gap between the two. Long said arbitrage activity should theoretically narrow that gap.

Long said fees from liquidity provision, minting, and trading activity for NVDAx3L will flow back to AI, and described the expansion as highly experimental. It added that only the official demo is protected.

Foresight News previously reported in July on an early version of the stock-token pairing meme. At that time, the market value of Long's top token, $AI, was about $14 million. Over the same period, Nvidia's share price rose from $208.76 to about $220.78, an increase of about 6%. By comparison, AI rose about 14 times, suggesting that most of the gains came from meme-driven pricing rather than the stock move itself.

According to Uniswap data, more than 9,000 NVDA shares are now locked in the pool, representing about 17% of Robinhood's tokenized NVDA circulating supply. The AI Community Vault has also accumulated about $190,000 in NVDA tokens, while about 8.4 million AI tokens have been permanently burned and another 8.4 million have been locked in the vault.

LongX was not the first product on Robinhood Chain to tokenize a leveraged NVDA position. RobinVista launched NVDA2L, a 2x leveraged product, on July 24, but it did not include a related meme issuance mechanism.