Arcus launches tokenized perp positions on Robinhood Chain
Arcus, a decentralized change (DEX) constructed by the group behind dYdX, has launched a protocol on Robinhood Chain that converts perpetual futures positions into transferable ERC-20 tokens and permits tokenized shares for use as collateral for leveraged buying and selling.
The launch contains merchandise similar to pBTC3x and pHOOD3x, providing 3x publicity to Bitcoin and Robinhood’s HOOD inventory token, respectively, the DEX introduced in a Tuesday press launch shared with Cointelegraph.
Its multi collateral function initially helps SPY, QQQ and MAG7 Inventory Tokens, every with a 50% loan-to-value ratio, permitting customers to make use of tokenized equities as collateral for perpetual positions.
“Conventional markets have spent many years making subtle funding methods simpler to entry by way of merchandise like leveraged ETFs. We consider the following step is making these methods native to blockchain infrastructure,” Arcus CEO Eddie Zhang stated.
Arcus stated it has recorded greater than $250 million in buying and selling quantity since launching on Robinhood Chain, with common each day quantity exceeding $33 million.
Robinhood Chain has grown to $596 million in complete worth locked since its July 1 launch, rating among the many prime 15 chains by DeFi TVL, in keeping with DeFiLlama knowledge.
