Arcus, a decentralized alternate (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 consists of merchandise akin 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 characteristic 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 subsequent step is making these methods native to blockchain infrastructure,” Arcus CEO Eddie Zhang mentioned.
Arcus mentioned 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 whole worth locked since its July 1 launch, rating among the many high 15 chains by DeFi TVL, based on DeFiLlama knowledge.
