Robinhood Chain's Arcus Launches pTokens, Turning Perpetual Contract Positions Into Transferable Tokens

Perpetual contract positions are usually locked into an exchange's backend, tied to a single account—if you want to hand one off, you first have to close it out. Arcus, a decentralized exchange on Robinhood Chain, is breaking that limitation with pTokens.

Each pToken represents proportional ownership of a user's perpetual contract account on the Arcus platform, with the account's market and leverage level fixed in place. In other words, a leveraged position that could previously only be settled within its original account is now wrapped into an ERC-20 token that can circulate on-chain—transferable, tradable.

The design separates "holding a position" from "operating an account": the account itself stays fixed at a set market and leverage level, but the token representing that account's value can move freely just like any other ERC-20 asset.

For now, public information is limited to a description of how pTokens work—Arcus has yet to share further details on supported markets, leverage ranges, or a launch timeline.