Arcus Launches pToken Protocol on Robinhood Chain

Arcus, a decentralized exchange developed by the team behind dYdX in collaboration with Robinhood Crypto, has launched the pToken protocol on Robinhood Chain. The new system converts perpetual futures positions into standard ERC20 tokens, allowing traders to gain leveraged exposure to assets like Bitcoin and Robinhood stock through simple spot transactions without directly managing margin or collateral.

The pToken protocol wraps a perpetual futures account into a transferable digital asset. Each pToken represents a proportional stake in an underlying Arcus perpetuals account at a fixed market and leverage level. This structure enables traders to buy and sell leveraged positions as easily as any other cryptocurrency token. The initial launch includes products such as pBTC and pBTC3x, offering 1x and 3x long and short exposure to Bitcoin, as well as pHOOD3x, which provides 3x long exposure to Robinhood's HOOD stock token.

A key feature of the rollout is the introduction of MultiAsset Collateral support. This allows holders of tokenized stocks, specifically SPY, QQQ, and MAG7 Stock Tokens, to use their assets as collateral for leveraged trades. Users can borrow the stablecoin USDG...