Arcus launches transferable pToken ERC-20s on Robinhood Chain

Arcus launched the pToken protocol on Robinhood Chain. Arcus is a decentralized exchange built by the team behind dYdX in partnership with Robinhood Crypto. Each pToken represents a pro-rata ownership stake in an Arcus perpetuals account at a fixed market and leverage level. The protocol converts that exposure into a transferable ERC-20 asset. Traders can buy and sell pTokens as spot assets without directly managing a perpetuals account, collateral, or margin. Arcus said pTokens support digital assets including BTC, SOL, and HYPE. pBTC and pBTC3x offer 1x and 3x long and short BTC exposure. pHOOD3x offers 3x long exposure to the HOOD Stock Token. Arcus said the leveraged, exchange-traded fund-style contracts can amplify investors' exposure. Arcus also launched Multi-Asset Collateral for eligible Stock Tokens. The feature uses a USDG loan for perpetuals margin and losses. Eligible collateral at launch includes SPY, QQQ, and MAG7 Stock Tokens. Each asset has an initial loan-to-value ratio of 50%. Robinhood Chain is an Ethereum Layer 2 built using Arbitrum's technology stack. The chain went live on public mainnet on July 1 with support for tokenized stocks, decentralized lending, and perpetual futures. Robinhood Chain has generated more than $600 million in total value locked and over $26 billion in cumulative DEX volume, according to The Block's data dashboard. Arcus said its trading volume has exceeded $250 million. Arcus said its average daily volume has surpassed $33 million. Arcus said its total value locked has reached $18 million. Arcus also claims that more than 85,000 users have joined its perpetuals waitlist. Arcus founder and CEO Eddie Zhang said pTokens turn managed perpetuals accounts into transferable onchain assets.