Arcus, a decentralized exchange (DEX) built by the team behind dYdX, launched a protocol on Robinhood Chain that converts perpetual futures positions into transferable ERC-20 tokens and allows tokenized stocks to be used as collateral for leveraged trading. The launch includes pBTC3x and pHOOD3x products, offering 3x exposure to Bitcoin and Robinhood’s HOOD stock respectively. Trading volume has exceeded $250 million since launch, with average daily volume exceeding $33 million. Robinhood Chain has reached $596 million in total value locked since its July 1 launch, ranking among the top 15 chains by DeFi TVL according to DeFiLlama.
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