dYdX Labs Launches Arcus DEX on Robinhood Chain Supporting 95 Stock Tokens; DYDX Falls 23.11% on July 2

According to BlockBeats, dYdX Labs launched Arcus, a decentralized exchange built on Robinhood Chain, on July 2. The platform supports 24/7 trading of 95 stock tokens, equity perpetual contracts, and major cryptocurrencies, with zero fees for stock token spot trades.

DYDX token fell 23.11% to $0.145 in the 24 hours following the announcement, according to HTX market data. This marked a sharp reversal from the previous day, when DYDX surged over 40% following hints of a major announcement. The dYdX Foundation clarified that Arcus will not affect dYdX Chain's independence or governance, which remains controlled by DYDX token holders and secured by validators.