Robinhood Chain Takes Another Step: Arcus to "Wrap" Perpetual Contracts into ERC-20 Tokens

BlockBeats News, August 25, Arcus, the decentralized trading platform of the Robinhood Chain ecosystem, launched the pToken protocol, which tokenizes custodial perpetual contract accounts into transferable ERC-20 tokens. This allows users to obtain leveraged asset exposure without directly managing margin and positions, and enables them to use pTokens in on-chain protocols such as lending.

Arcus stated that each pToken represents proportional ownership of a specific market's perpetual contract account at a fixed leverage ratio, allowing users to buy and sell them like trading spot tokens. Leveraged products for assets such as BTC, SOL, and HYPE have been introduced, including pBTC and pBTC3x, as well as support for stock token leveraged products like pHOOD3x.

Furthermore, Arcus introduced multi-asset collateralization, allowing eligible SPY, QQQ, and MAG7 stock tokens to be used as collateral for perpetual contracts, with an initial loan-to-value ratio (LTV) of 50%. Users can obtain leverage without selling the underlying assets.

Robinhood Chain officially launched its mainnet on July 1, with a current TVL exceeding $600 million and a total DEX trading volume of over $26 billion. Arcus claims that its total trading volume has surpassed $250 million, with a daily average volume exceeding $33 million, a TVL of $18 million, and over 85,000 perpetual contract waitlist users.