Arcus, a decentralized exchange (DEX) developed by the team behind dYdX, has unveiled a groundbreaking protocol on Robinhood Chain that transforms perpetual futures positions into transferable ERC-20 tokens. This innovation also enables tokenized stocks to be utilized as collateral for leveraged trading.
The debut of this protocol introduces products like pBTC3x and pHOOD3x, providing 3x exposure to Bitcoin and Robinhood’s HOOD stock token, respectively, as revealed in a press release shared with Cointelegraph on Tuesday.
With its multi-collateral feature, Arcus initially supports SPY, QQQ, and MAG7 Stock Tokens, each boasting a 50% loan-to-value ratio. This feature empowers users to leverage tokenized equities as collateral for perpetual positions.
CEO Eddie Zhang stated, “Traditional markets have spent decades simplifying access to sophisticated investment strategies through products like leveraged ETFs. We envision the next evolution is integrating these strategies into blockchain infrastructure.”
Arcus has achieved over $250 million in trading volume since its launch on Robinhood Chain, with an average daily volume exceeding $33 million.
Since its inception on July 1, Robinhood Chain has amassed a total value locked of $596 million, positioning it among the top 15 chains by DeFi Total Value Locked (TVL), as per data from DeFiLlama.
