Arcus protocol on Robinhood Chain tokenizes perpetual futures positions as transferable ERC-20s (pBTC3x, pHOOD3x) and adds multi-collateral support for tokenized stocks.
DeFi & Yields ·
Arcus, a protocol operating on Robinhood Chain, has gone live with a mechanism that wraps leveraged perpetual futures into standard ERC-20 tokens—including instruments like pBTC3x and pHOOD3x that track 3x Bitcoin and Robinhood Chain exposure. The system also rolled out the ability to use tokenized stocks as backing collateral, accepting positions in SPY, QQQ, and MAG7 at a 50% loan-to-value threshold.
Robinhood Chain itself has accumulated $596M in total value locked since launching on the mainnet on July 1. The protocol was built by the dYdX team and represents an approach to making derivatives tradeable as composable assets across decentralized finance infrastructure.
The launch adds liquidity venue and collateral optionality to equity-linked derivatives but introduces structural risks: in sharp market downturns, cascading liquidations of leveraged positions across interconnected smart contracts could trigger sharp repricing. Whether the system's liquidation mechanics and cross-collateral safeguards prove robust under stress remains to be tested at scale.