Arcus launches tokenized perp positions on Robinhood Chain

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 Robinhood’s HOOD stock token, respectively, the DEX announced in a Tuesday press release shared with Cointelegraph.“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 $2 billion in trading volume since launching on Robinhood Chain, with average daily volume exceeding $100 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.Related: Fed study finds crypto investors driven by beliefs, easily swayed by returnsCointelegraph is committed to independent, transparent journalism. This news a...