Arcus, built by the dYdX team on Robinhood Chain, launched a protocol that converts perpetual futures positions into transferable ERC-20 tokens such as pBTC3x and pHOOD3x. It also added multi-collateral support for tokenized stocks.
• Users can post SPY, QQQ, and MAG7 as collateral at a 50% loan-to-value ratio.
• Robinhood Chain's TVL has reportedly surpassed $596M since its July 1 mainnet launch.
Matters because: It signals real capital flowing into tokenized-equity DeFi, while also adding liquidation-cascade risk in volatile markets.