Bitcoin · Ethereum · The Block
Robinhood Chain DEX Arcus releases pTokens to turn perp accounts into transferable ERC-20s
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Arcus, a decentralized exchange built by the team behind dYdX in partnership with Robinhood Crypto, has launched the pToken protocol on Robinhood Chain, enabling traders to tokenize managed perpetual accounts into ERC-20 tokens that can move across lending markets and other onchain protocols.
Key facts
- The chain has since generated over $600 million in total value locked and more than $26 billion in cumulative DEX volume, 's data dashboard
- Arcus said it has reached more than $2 billion in trading volume, with average daily volume surpassing $100 million
- Arcus said the launch expands access to digital assets including BTC, SOL, and HYPE, such as pBTC and pBTC3x, offering 1x and 3x long and short BTC exposure
- Robinhood Chain, an Ethereum Layer 2 built using Arbitrum's technology stack, went live on public mainnet on July 1 with support for tokenized stocks, decentralized lending, and perpetual futures
Summary
Shared with The Block, Arcus said the leveraged, exchange-traded fund-style contracts allow investors to amplify their exposure as institutions increasingly look to make tokenized assets productive. Each pToken represents a pro-rata ownership stake in an underlying Arcus perpetuals account at a fixed market and leverage level, converting the exposure into a simple, transferable ERC-20 asset, the team explained. Arcus said the launch expands access to digital assets including BTC, SOL, and HYPE, such as pBTC and pBTC3x, offering 1x and 3x long and short BTC exposure. "Traditional markets have spent decades making sophisticated investment strategies easier to access through products like leveraged ETFs.