Crypto25 August, 20262 min read
Arcus Launches Tokenized Perpetual Futures Positions On Robinhood Chain
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Arcus launches pToken protocol on Robinhood Chain, converting perpetual futures to ERC-20 tokens. Tokens enable 3x leveraged exposure (e.g., pBTC3x, pHOOD3x) without margin management.
5 outlets told this the same way.
Arcus tokenizes perps
Arcus, a decentralized exchange (DEX) built by the team behind dYdX, launched a protocol on Robinhood Chain that converts perpetual futures positions into transferable ERC-20 tokens. The launch includes products such as pBTC3x and pHOOD3x, offering 3x exposure to Bitcoin and Robinhood’s HOOD stock token, respectively, the DEX announced in a Tuesday press release shared with Cointelegraph. Arcus said it allows tokenized stocks to be used as collateral for leveraged trading without requiring users to sell their holdings.
“‘Traditional markets have spent decades making sophisticated investment strategies easier to access through products like leveraged ETFs.”
Arcus CEO Eddie Zhang said, “Traditional markets have spent decades making sophisticated investment strategies easier to access through products like leveraged ETFs.” Arcus added that it has recorded more than $2 billion in trading volume since launching on Robinhood Chain, with average daily volume exceeding $100 million.
Collateral and loan terms
Arcus’s 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. Cryptonews.net described the same approach as converting perpetual futures position into transferable ERC-20 tokens and letting tokenized stocks back leveraged trading. Bitcoin World said pToken wraps a perpetual futures account into a standard ERC-20 token so traders can buy and sell leveraged positions like spot assets.
Bitcoin World also said holders of tokenized stocks such as SPY, QQQ, and MAG7 can borrow the stablecoin USDG against their positions and use those funds as margin for futures trading. Arcus’s Robinhood Chain growth was reported as $596 million in total value locked since its July 1 launch, ranking among the top 15 chains by DeFi TVL.
What comes next
Arcus’s pToken protocol, described by Bitcoin World, is positioned as a way to simplify leveraged trading by tokenizing perpetual futures position accounts into ERC-20 tokens. Bitcoin World said these tokenized accounts can be used as collateral in other DeFi protocols, including lending markets. It further stated that this lets tokenized stocks be used as collateral so traders can borrow USDG and use those funds as margin for futures trading, eliminating the need to sell their stock tokens first.
Cointelegraph.es framed the move as making “esas estrategias sean nativas de la infraestructura blockchain,” quoting Eddie Zhang’s view of the next step for investment strategies. Across the coverage, the reported metrics for Robinhood Chain and Arcus’s activity—$596 million in total value locked since July 1 and more than $2 billion in trading volume—set the scale for how quickly the new tokenized-perp products are being rolled out.