Arcus, a dYdX-built DeFi exchange, processed $33M in trading volume and $15M in TVL in its first week on Robinhood Chain, offering 95 tokenized stocks and 50x perpetual futures across 120 countries.
The dYdX-built exchange Arcus hit $33 million in trading volume within its first weeks, offering 95 stock tokens and leveraged perpetual contracts across 120 countries.
The platform went live July 1 on Robinhood Chain, a Layer-2 network built with Arbitrum Orbit technology. It processed roughly 285,000 transactions in its first week, racking up $15 million in total value locked.
Traders can buy and sell tokenized representations of equities like Tesla or Apple 24 hours a day, seven days a week, with no settlement delays and no fee for trading. The exchange lists around 95 stock tokens.
On the derivatives side, Arcus offers 35 real world asset perpetual futures contracts with leverage up to 50x. Tokenized stocks can be used as collateral for those perpetual positions, letting holders put Apple or Tesla tokens to work backing leveraged trades.
Eddie Zhang serves as CEO. dYdX founder Antonio Juliano sits on the board. The team stresses that Arcus operates separately from the dYdX v4 Chain as a distinct product, not a rebrand.
The exchange is available in more than 120 countries but excludes the US, Canada, and the UK. That preemptive compliance decision reflects the unsettled regulatory treatment of tokenized securities globally, the team said.
The planned ARCUS governance token is not yet available for trading. The team has indicated reserved allocations for the existing dYdX community, which could shift incentives for current dYdX token holders.
Of the $33 million in first week volume, more than half came from the first weekend, Zhang told reporters.
Read more about crypto derivatives volume trends. See how PayPal's PYUSD stablecoin is expanding.
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