Arcus, a decentralized exchange (DEX) built by the team behind dYdX, has launched a protocol on Robinhood Chain that converts perpetual futures positions into transferable ERC-20 tokens and allows tokenized stocks to be used as collateral for leveraged trading.
The launch includes products such as pBTC3x and pHOOD3x, offering 3x exposure to Bitcoin and Robinhoods HOOD stock token, respectively, the DEX announced in a Tuesday press release shared with Cointelegraph.
Its multi collateral feature initially supports SPY, QQQ and MAG7 Stock Tokens, each with a 50% loan-to-value ratio, allowing users to use tokenized equities as collateral for perpetual positions.
“Traditional markets have spent decades making sophisticated investment strategies easier to access through products like leveraged ETFs. We believe the next step is making those strategies native to blockchain infrastructure,” Arcus CEO Eddie Zhang said.
Arcus said it has recorded more than $250 million in trading volume since launching on Robinhood Chain, with average daily volume exceeding $33 million.
Robinhood Chain has grown to $596 million in total value locked since its July 1 launch, ranking among the top 15 chains by DeFi TVL, according to DeFiLlama data.