TL;DR
- pTokens launch: Arcus introduced pTokens that convert managed perpetual accounts into transferable ERC-20 tokens, giving traders simplified access to leveraged exposure.
- Collateral expansion: Arcus added Multi-Asset Collateral support for SPY, QQQ, and MAG7 Stock Tokens at a 50% loan-to-value ratio, allowing leverage without selling underlying holdings.
- Trading growth: Arcus reported over $250 million in trading volume on Robinhood Chain, expanding access to BTC, SOL, HYPE, and leveraged Stock Tokens through products like pBTC3x and pHOOD3x.
Arcus has expanded its onchain trading model with a new protocol on Robinhood Chain that turns perpetual futures positions into transferable ERC-20 tokens while enabling tokenized stocks to serve as collateral for leveraged strategies. The rollout introduces products such as pBTC3x and pHOOD3x, giving traders 3x exposure to Bitcoin and Robinhood’s HOOD stock token. The team said the goal is to make advanced market structures native to blockchain infrastructure as demand grows for tokenized assets that can move across multiple protocols.
Tokenized Perpetual Accounts Through pTokens
Arcus launched the pToken protocol to let traders convert managed perpetual accounts into ERC-20 tokens that can circulate across lending markets and other onchain venues. Each pToken represents a pro-rata stake in an underlying Arcus perpetuals account at a fixed market and leverage level, simplifying access to leveraged exposure. Traders can buy and sell these tokens like spot assets without directly managing margin, collateral, or account risk. The team said institutions are increasingly seeking ways to make tokenized holdings productive, and pTokens are designed to meet that shift.
Multi-Asset Collateral for Perpetuals
Arcus introduced a Multi-Asset Collateral feature that allows eligible Stock Tokens to back perpetuals positions through a USDG loan used for margin and losses. At launch, SPY, QQQ, and MAG7 Stock Tokens are supported, each with a 50% loan-to-value ratio. This structure lets traders access leverage without selling their underlying tokenized equities, addressing a common limitation where tokenized stocks previously had to be liquidated before being used as collateral.
Expanding Access to Leveraged Digital Assets
Arcus said it has surpassed $250 million in trading volume on Robinhood Chain, with average daily volume above $33 million. The launch also broadens access to digital assets including BTC, SOL, and HYPE through products such as pBTC and pBTC3x, offering both 1x and 3x long and short exposure. The team emphasized that traditional markets have spent decades refining leveraged ETFs, and the next step is bringing those strategies directly onto blockchain rails.
