[DigitalToday reporter Chi-gyu Hwang] dYdX Labs has partnered with Robinhood to change its protocol brand to Arcus and launch a new decentralised exchange on Robinhood Chain.
Cointelegraph reported on July 2 that Arcus will operate on Robinhood Chain, a Layer 2 blockchain based on Robinhood Arbitrum.
The dYdX Foundation said it developed Arcus in cooperation with dYdX Labs and Robinhood, and that the existing dYdX blockchain is not affected by the change.
Arcus said it aims to become the leading DEX on Robinhood Chain. Users can trade perpetual products and 95 tokenised stocks with no fees. Arcus plans to begin trading in perpetual products and tokenised stocks this month. It also plans to support using tokenised stocks as collateral for perpetual products and provide access to pre-IPO stock markets.
Robinhood Crypto invested in Arcus but did not disclose details. The dYdX Foundation said Arcus is an independent product built on separate infrastructure, while the dYdX blockchain will continue to operate and its community ownership structure will be maintained.
Chi-gyu Hwang
delight@d-today.co.kr