Arcus launches leveraged pTokens on Robinhood Chain

Arcus, a decentralized exchange developed by the team behind dYdX, has launched leveraged, ETF-style contracts on the Robinhood Chain. These products, known as pTokens, convert managed perpetual accounts into transferable ERC-20 assets.

Each pToken represents proportional ownership of an underlying perpetual account at a specific market and leverage level. This allows users to gain leveraged exposure to assets like Bitcoin, Solana, and Hyperliquid without the need to manually manage margins, collateral, or individual positions. The launch also includes leveraged stock tokens, such as pHOOD3x, which offers three-times long exposure to Robinhood shares.

The initiative aims to increase the productivity of tokenized assets. By making these positions transferable, investors can potentially move tokenized exposure between different trading and lending platforms on-chain. This mobility is intended to help financial institutions reduce liquidity buffers and lower capital requirements.

Robinhood Chain, an Ethereum Layer 2, currently holds approximately $596 million in total value locked. Arcus reports daily trading volumes exceeding $100 million, with a perpetuals waitlist of over 85,000 users.