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RWA DeFi

dYdX Team’s Arcus Opens Stock-Token Collateral to All Perps Traders, Caps Non-USDG Deposits at $20,000

Arcus, the Robinhood Chain exchange built by the dYdX team, has removed the $25 million volume requirement that gated its October early access, opening stock-token collateral to all perpetuals traders. Non-USDG deposits remain capped at $20,000 per trader and $2 million in total.

Original source

AI take

Removing the volume gate widens access to tokenized equity collateral, but the deposit caps show Arcus is still managing risk and liquidity rather than throwing the doors open. This matters most for smaller perps traders who were previously locked out, and for the broader question of whether stock tokens can function as practical margin outside a closed cohort. The open question is whether the caps are a temporary onboarding constraint or a structural limit, and how collateral of this kind behaves under stress.

Generated by AI for reference only.

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