Arcus, a dYdX Labs and Robinhood Crypto joint product, launched pTokens on Robinhood Chain enabling leveraged perpetual accounts to be tokenized and traded across DeFi.
DeFi & Yields ·
Arcus, a product developed by dYdX Labs and Robinhood Crypto, has launched pTokens on Robinhood Chain. The tokens represent leveraged perpetual accounts and are structured as transferable ERC-20 contracts, enabling them to circulate across decentralized finance applications.
pTokens convert what were previously non-transferable leveraged positions into tradeable assets. By tokenizing perpetual accounts, the product allows users to buy, sell, or transfer positions without unwinding the underlying leverage, creating liquidity for positions that would otherwise be illiquid or locked to their original holder.
The mechanics of cross-chain or cross-protocol integration—how pTokens will interact with broader DeFi liquidity pools, what collateral requirements apply to trading them, and whether there are restrictions on position sizing or leverage ratios—remain unspecified in available announcements. Adoption metrics and user uptake since launch have not yet been published.