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BTC Arcus launches a new agreement on Robinhood Chain to convert perpetual positions into transferable tokens.
Arcus, the decentralized exchange built by the dYdX team, has now launched a new agreement on Robinhood Chain. The agreement converts perpetual futures positions into transferable ERC-20 tokens and allows users to leverage tokenized stocks as collateral.
The decentralized exchange announced in an announcement on Tuesday that the first products include pBTC3x and pHOOD3x, which provide triple leverage exposure to Bitcoin and Robinhood's HOOD stock tokens, respectively.
Its multi-collateral feature initially supports SPY, QQQ and MAG7 stock tokens, each with a loan-to-value ratio of 50%. Users can use tokenized stocks as collateral for perpetual positions.
Eddie Zhang, CEO of Arcus, said: "Traditional markets have taken decades to make complex investment strategies more accessible through products such as leveraged ETFs. We think the next step is to make these strategies native to blockchain infrastructure."
Arcus said that since its launch of Robinhood Chain, its trading volume has exceeded US$250 million, with an average daily trading volume exceeding US$33 million.
Since its launch on July 1, Robinhood Chain's total locked value has grown to US$596 million, ranking among the top 15 in DeFi chains.
