{"investigation":{"slug":"stonks-fun","entity_name":"Stonks.fun","trust_score":32,"severity_base":null,"score_modifier":0,"confidence":0.35,"status":"draft","content_type":"investigation","summary":"Stonks.fun (official domain stonks.fun, X handle @stonksdotfun) is a pseudonymous token launchpad built on Robinhood Chain, an Ethereum layer-2 network Robinhood launched on July 1, 2026 for tokenized real-world assets. Stonks.fun issues 'stonks' as DN-404 tokens using the Doppler protocol, with platform fees allegedly directed toward buying back and burning its native token. The operators are anonymous, no independent smart-contract audit of the stonks.fun launchpad itself could be located, and the platform operates on a chain that multiple news outlets documented as being flooded with rug pulls, honeypot contracts, and wallet-drainer scams within days of its launch; no source found ties a specific rug pull, hack, or regulatory action directly to stonks.fun by name, so this assessment is a caution based on category risk and disclosure gaps rather than a confirmed incident. Researchers and news coverage repeatedly conflate this project with the similarly named but distinct Solana launchpad 'StonkFun' (stonkfun.xyz), and readers should not confuse the two.","sections":[{"content":"Multiple crypto projects use near-identical 'Stonks'/'Stonk' branding, and automated search summaries repeatedly conflate them. The entity matching the domain stonks.fun, per its official X account @stonksdotfun, describes itself as a 'Token Launchpad on Robinhood Chain' where 'Stonks' are DN-404 tokens powered by the Doppler protocol, marketed under the tagline 'Tokenized equity baskets on Robinhood Chain. Hold one thing, get paid in everything.' This is a distinct project from 'StonkFun' at stonkfun.xyz, a Solana-based launchpad using Raydium's LaunchLab bonding curves whose native STONK token is paired with tokenized-stock quote assets such as SPYX; that Solana project reported STONK launched around July 23, 2026 and reached the top ~165 tokens by market capitalization after a Raydium integration in early September 2026. Stonks.fun is also unrelated to 'StonksPad' (a separate BNB Chain tax-vault/factory contract project on GitHub), 'sTONks.pump' (a separate Solana bot-operated launchpad), and to the 2021 'STONKS' memecoin scam in which a fake Nasdaq-affiliated account promoted a fraudulent Binance Smart Chain token unrelated to any current 'stonks.fun' project (that 2021 token's community later rebranded as 'MyStonks'). Given the overlapping names, low disclosure from stonks.fun itself, and the fact that most available web coverage actually describes the Solana stonkfun.xyz project rather than the Robinhood Chain stonks.fun site, confidence in claims specific to stonks.fun (the Robinhood Chain project) is limited.","heading":"Identity and disambiguation","sources":[{"url":"https://x.com/stonksdotfun","name":"Stonks.fun (@stonksdotfun) on X","type":"social_media","credibility":2},{"url":"https://www.datawallet.com/crypto/stonk-fun-explained","name":"Stonk Fun Explained: Stock-Paired Launches & Tokenomics (Datawallet)","type":"research","credibility":2},{"url":"https://coinmarketcap.com/cmc-ai/stonk-fun/what-is/","name":"What Is STONK (stonkfun.xyz) (STONK) And How Does It Work? (CoinMarketCap)","type":"research","credibility":2},{"url":"https://github.com/StonksPadBNB/stonkspad-contracts","name":"GitHub - StonksPadBNB/stonkspad-contracts","type":"other","credibility":2},{"url":"https://quadrigainitiative.com/cryptocurrencyhackscamfraudwiki/index.php?title=Nasdaq_Stonks_Token_Rug_Pull_Turns_Into_Community_CTO","name":"Nasdaq Stonks Token Rug Pull Turns Into Community CTO (Quadriga Initiative)","type":"community_report","credibility":2}],"severity":"medium"},{"content":"Stonks.fun operates on Robinhood Chain, an Ethereum layer-2 network that Robinhood Markets launched to mainnet on July 1, 2026, originally positioned to host tokenized real-world stocks. On stonks.fun, tokens ('stonks') are described as DN-404 tokens — a hybrid fungible/non-fungible token standard — issued via the Doppler protocol, which Doppler's own team has confirmed is live within the Robinhood Chain ecosystem for asset creation, pricing, and liquidity. Stonks.fun states that platform fees are used to buy back and burn its native token and to support top-performing tokens on the platform, a mechanism comparable to buy-and-burn schemes used by other bonding-curve launchpads. No independently published smart-contract audit specific to the stonks.fun launchpad contracts was found; Doppler's protocol-level infrastructure has undergone a public audit contest via Cantina and maintains a bug-bounty program, but this does not necessarily cover launchpad-specific deployments such as stonks.fun.","heading":"Platform mechanics and chain","sources":[{"url":"https://x.com/stonksdotfun","name":"Stonks.fun (@stonksdotfun) on X","type":"social_media","credibility":2},{"url":"https://x.com/dopplerprotocol/status/2072756692757189108","name":"Doppler on X: live in Robinhood Chain ecosystem","type":"social_media","credibility":2},{"url":"https://www.coindesk.com/tech/2026/07/13/robinhood-built-a-blockchain-for-tokenized-stocks-memecoins-took-over","name":"Robinhood's blockchain finds early success — thanks to memecoins, not stocks (CoinDesk)","type":"news_article","credibility":1},{"url":"https://docs.doppler.lol/reference/security-and-bug-bounties","name":"Security & bug bounties | Doppler Docs","type":"official","credibility":2},{"url":"https://docs.doppler.finance/resources/audits","name":"Audits | Doppler Finance","type":"official","credibility":2}],"severity":"medium"},{"content":"No verifiable identity information — legal entity, jurisdiction, or named individuals — was found for the operators of stonks.fun. The project is run under the pseudonymous X handle @stonksdotfun with no disclosed corporate structure. A separate handle, @LaunchOnSF, is associated with promotional activity for the similarly-named but distinct Solana project stonkfun.xyz, which is described in third-party research as 'completely pseudonymous' with 'no disclosed legal identity, corporate structure, or team members' and no governance rights for token holders. Anonymous operation is common among bonding-curve launchpads generally but represents a transparency gap that limits accountability if the platform experiences technical failure, exit, or fee-mechanism changes.","heading":"Team and ownership transparency","sources":[{"url":"https://www.datawallet.com/crypto/stonk-fun-explained","name":"Stonk Fun Explained: Stock-Paired Launches & Tokenomics (Datawallet)","type":"research","credibility":2},{"url":"https://x.com/stonksdotfun","name":"Stonks.fun (@stonksdotfun) on X","type":"social_media","credibility":2}],"severity":"high"},{"content":"Multiple Tier 1/Tier 2 outlets reported that Robinhood Chain experienced a wave of scams within days of its July 1, 2026 mainnet launch. Protos reported that by July 10, 2026 — nine days after launch — users had lost funds to fake token contracts that credit a buyer's wallet momentarily before redirecting tokens back to the deployer, to wallet drainers, to memecoin rug pulls, and to honeypot contracts with hidden backdoors (naming tokens such as $ROBINHOOD, HOODIE, and ROGE); one individual reportedly lost $56,000 to a hacked smart contract tied to the CASHCAT token. CoinDesk separately reported that within the chain's first weeks, memecoin speculation vastly outpaced the tokenized-stock activity the chain was built for, with real-world assets representing only about 4.1% of value locked, and named 'NOXA.fun' (a different launchpad) as a source of Robinhood-themed token launches. No source reviewed specifically names stonks.fun as the source of a scam, rug pull, or drainer incident, but as an active launchpad on the same permissionless chain, it operates within an environment independently documented as high-risk for exactly these failure modes. Robinhood stated its own wallet integrates Blockaid scam detection and acknowledged that 'permissionless chains' inherently carry this risk.","heading":"Ecosystem-level scam and rug-pull risk on Robinhood Chain","sources":[{"url":"https://protos.com/robinhood-chain-scams-are-already-costing-users-dearly/","name":"Robinhood Chain scams are already costing users dearly (Protos)","type":"news_article","credibility":2},{"url":"https://cryptonews.net/news/security/33132381/","name":"Robinhood Chain scams are already costing users dearly (syndicated, Cryptonews)","type":"news_article","credibility":2},{"url":"https://www.coindesk.com/tech/2026/07/13/robinhood-built-a-blockchain-for-tokenized-stocks-memecoins-took-over","name":"Robinhood's blockchain finds early success — thanks to memecoins, not stocks (CoinDesk)","type":"news_article","credibility":1},{"url":"https://x.com/BSCNews/status/2075678696858423736","name":"Robinhood Chain is surging. So are the scams (BSCN on X, citing Protos)","type":"social_media","credibility":2}],"severity":"high"},{"content":"No SEC, CFTC, DOJ, or other regulatory action naming stonks.fun was identified in available sources. Given that the platform facilitates trading of tokens explicitly marketed as tied to tokenized equities and equity baskets — an area regulators have scrutinized generally for Robinhood Chain and similar tokenized-stock products — the absence of enforcement action to date should not be read as an endorsement; it reflects the limits of available search results as of September 2026.","heading":"Regulatory status","sources":[],"severity":"medium"},{"content":"Because search engines and AI summaries frequently conflate stonks.fun with the similarly-branded Solana project StonkFun (stonkfun.xyz), it is documented here strictly to prevent misattribution. StonkFun is reported to be a Solana launchpad, integrated with Raydium's LaunchLab, on which users mint fixed-supply tokens paired against tokenized stocks, pre-IPO tokens, or crypto assets; its native STONK token launched around July 23, 2026 with a one-billion supply, roughly 14% of which had been burned as of the source's writing, funded by an alleged policy of directing about 60% of platform revenue to buybacks and burns — a policy characterized by one research source as 'a webpage commitment, not immutable onchain code' rather than an enforced smart-contract rule. StonkFun's mint authority is reported as permanently revoked. No rug pull, hack, or regulatory action was found tied to StonkFun/stonkfun.xyz either; this section exists purely to separate it from stonks.fun for readers.","heading":"Related Solana project: StonkFun (stonkfun.xyz) — for disambiguation only","sources":[{"url":"https://www.datawallet.com/crypto/stonk-fun-explained","name":"Stonk Fun Explained: Stock-Paired Launches & Tokenomics (Datawallet)","type":"research","credibility":2},{"url":"https://airdropalert.com/blogs/what-is-stonkfun/","name":"StonkFun Explained: The Stock-Paired Launchpad That 3x'd in a Day (Airdrop Alert)","type":"news_article","credibility":2},{"url":"https://coinmarketcap.com/cmc-ai/stonk-fun/what-is/","name":"What Is STONK (stonkfun.xyz) (STONK) And How Does It Work? (CoinMarketCap)","type":"research","credibility":2}],"severity":"low"}],"timeline":[{"date":"2026-07","event":"Robinhood Chain, the layer-2 network stonks.fun operates on, launches to mainnet.","source":"Protos","source_url":"https://protos.com/robinhood-chain-scams-are-already-costing-users-dearly/","date_evidence":"Robinhood launched its blockchain mainnet on July 1","date_original":"2026-07-01"},{"date":"2026-07","event":"Reports emerge of widespread rug pulls, honeypot contracts, and wallet-drainer scams across Robinhood Chain, including a $56,000 loss tied to the CASHCAT token; no incident named stonks.fun specifically.","source":"Protos","source_url":"https://protos.com/robinhood-chain-scams-are-already-costing-users-dearly/","date_evidence":"Robinhood launched its blockchain mainnet on July 1... Within nine days (by July 10), widespread scams were already reported.","date_original":"2026-07-10"},{"date":"2026-07","event":"Doppler protocol goes live within the Robinhood Chain ecosystem, providing the asset-creation and liquidity infrastructure stonks.fun uses for its DN-404 'stonks' tokens.","source":"Doppler (@dopplerprotocol) on X","source_url":"https://x.com/dopplerprotocol/status/2072756692757189108"},{"date":"2026-07-13","event":"CoinDesk reports Robinhood Chain's early growth is driven overwhelmingly by memecoin speculation rather than the tokenized real-world assets it was built for.","source":"CoinDesk","source_url":"https://www.coindesk.com/tech/2026/07/13/robinhood-built-a-blockchain-for-tokenized-stocks-memecoins-took-over","date_evidence":"coindesk.com/tech/2026/07/13/robinhood-built-a-blockchain-for-tokenized-stocks-memecoins-took-over"}],"sources_used":[{"url":"https://x.com/stonksdotfun","name":"Stonks.fun (@stonksdotfun) on X","type":"social_media","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://www.datawallet.com/crypto/stonk-fun-explained","name":"Stonk Fun Explained: Stock-Paired Launches & Tokenomics (Datawallet)","type":"research","archive_url":"http://web.archive.org/web/20260922232114/https://www.datawallet.com/crypto/stonk-fun-explained","credibility":2,"archive_timestamp":"2026-09-22T23:21:14+00:00"},{"url":"https://coinmarketcap.com/cmc-ai/stonk-fun/what-is/","name":"What Is STONK (stonkfun.xyz) (STONK) And How Does It Work? (CoinMarketCap)","type":"research","archive_url":"https://web.archive.org/web/20260923004917/https://coinmarketcap.com/cmc-ai/stonk-fun/what-is/","credibility":2,"archive_timestamp":"2026-09-23T00:49:17+00:00"},{"url":"https://github.com/StonksPadBNB/stonkspad-contracts","name":"GitHub - StonksPadBNB/stonkspad-contracts","type":"other","archive_url":"https://web.archive.org/web/20260922231428/https://github.com/StonksPadBNB/stonkspad-contracts","credibility":2,"archive_timestamp":"2026-09-22T23:14:28+00:00"},{"url":"https://quadrigainitiative.com/cryptocurrencyhackscamfraudwiki/index.php?title=Nasdaq_Stonks_Token_Rug_Pull_Turns_Into_Community_CTO","name":"Nasdaq Stonks Token Rug Pull Turns Into Community CTO (Quadriga Initiative)","type":"community_report","archive_url":"https://web.archive.org/web/20260922231650/https://quadrigainitiative.com/cryptocurrencyhackscamfraudwiki/index.php?title=Nasdaq_Stonks_Token_Rug_Pull_Turns_Into_Community_CTO","credibility":2,"archive_timestamp":"2026-09-22T23:16:50+00:00"},{"url":"https://x.com/dopplerprotocol/status/2072756692757189108","name":"Doppler on X: live in Robinhood Chain ecosystem","type":"social_media","archive_url":null,"credibility":2,"archive_timestamp":null},{"url":"https://www.coindesk.com/tech/2026/07/13/robinhood-built-a-blockchain-for-tokenized-stocks-memecoins-took-over","name":"Robinhood's blockchain finds early success — thanks to memecoins, not stocks (CoinDesk)","type":"news_article","archive_url":"http://web.archive.org/web/20260804162013/https://www.coindesk.com/tech/2026/07/13/robinhood-built-a-blockchain-for-tokenized-stocks-memecoins-took-over","credibility":1,"archive_timestamp":"2026-08-04T16:20:13+00:00"},{"url":"https://docs.doppler.lol/reference/security-and-bug-bounties","name":"Security & bug bounties | Doppler Docs","type":"official","archive_url":"http://web.archive.org/web/20260409124105/https://docs.doppler.lol/reference/security-and-bug-bounties","credibility":2,"archive_timestamp":"2026-04-09T12:41:05+00:00"},{"url":"https://docs.doppler.finance/resources/audits","name":"Audits | Doppler Finance","type":"official","archive_url":"http://web.archive.org/web/20260611000502/https://docs.doppler.finance/resources/audits","credibility":2,"archive_timestamp":"2026-06-11T00:05:02+00:00"},{"url":"https://protos.com/robinhood-chain-scams-are-already-costing-users-dearly/","name":"Robinhood Chain scams are already costing users dearly (Protos)","type":"news_article","archive_url":"http://web.archive.org/web/20260818183114/https://protos.com/robinhood-chain-scams-are-already-costing-users-dearly/","credibility":2,"archive_timestamp":"2026-08-18T18:31:14+00:00"},{"url":"https://cryptonews.net/news/security/33132381/","name":"Robinhood Chain scams are already costing users dearly (syndicated, Cryptonews)","type":"news_article","archive_url":"http://web.archive.org/web/20260726234732/https://cryptonews.net/news/security/33132381/","credibility":2,"archive_timestamp":"2026-07-26T23:47:32+00:00"},{"url":"https://x.com/BSCNews/status/2075678696858423736","name":"Robinhood Chain is surging. 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