Vlad Novakovski revealed that the Robinhood Chain perpetuals deal was '12 years in the making,' tracing back to his high school days. The agreement features a 50/50 revenue split, highlighting a significant partnership milestone. Novakovski also discussed the collateral risk associated with USDG, the quote asset on Robinhood's perpetuals, contrasting it with USDC used on Lighter's platform. The conversation further explored how Robinhood's perpetuals differ from Lighter's app, and the implications of using different quote assets. Novakovski also touched on Lighter's Telegram Wallet deal compared to Hyperliquid's builder codes, and the regulatory pathways necessary for decentralized exchanges to operate onshore.