Phantom has announced the launch of “Phantom Perps,” a new feature that brings perpetual futures trading directly into users wallets powered by HyperliquidX. The launch of Phantom Perps marks a significant step in making advanced crypto trading accessible to both seasoned traders and newcomers, all within a mobile-first, user-friendly interface.

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What is Phantom Perps?

Phantom Perps is nothing but perpetual futures, commonly known as “perps”. It brings perpetual futures trading directly to the Phantom wallet, allowing users to speculate on the price movements of over 100 digital assets. Phantom perps have no expiration date, giving traders the flexibility to hold positions as long as they wish. With up to 40x leverage, users can amplify their exposure to market movements, whether they’re going long or short on assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and even trending meme coins such as Dogecoin (DOGE) and Pepe (PEPE).

Key Features of Phantom Perps

1. 100+ Markets: Trade a vast range of cryptocurrencies, from high-volatility meme coins to blue-chip tokens.

2. Up to 40x Leverage: Amplify your trades, but be mindful of the increased risk that comes with higher leverage.

3. Mobile-First Design: Open, close, and manage positions directly from the Phantom wallet’s Home tab, no separate apps needed.

4. Non-Custodial Control: Maintain full ownership of your assets throughout the trading process.

5. Risk Management: Set stop-loss and take-profit orders, and receive real-time alerts to stay on top of your positions.

6. HyperliquidX: Benefit from deep liquidity, rapid settlements, and a robust trading infrastructure.

How It Works:

Phantom has streamlined the entire trading process to make it as simple as possible:

1. Fund Your Account: Deposit SOL into your Phantom wallet. The wallet automatically converts your SOL to USDC on Hyperliquid for trading.

2. Choose a Market: Select from over 100 available perps contracts.

3. Set Leverage: Use a simple slider to adjust leverage (up to 40x), and set stop-loss/take-profit levels to manage downside risk.

4. Execute: Review your order, execute the trade, and monitor your position in real time, all without leaving the app.

Why This Matters:

Over the years, perpetual futures trading has been dominated by centralised exchanges with complicated user interfaces, which can be intimidating for retail traders. Phantom’s perp’s brings professional-grade trading tools directly into the hands of everyday users, lowering the barriers to enter the crypto derivatives market. The move also reflects a broader industry trend, wallets are increasingly becoming the primary gateway for onchain activity, challenging the dominance of traditional exchanges. By offering a seamless, in-wallet trading experience, Phantom aims to position itself at the forefront of this shift.

The HyperliquidX Advantage

HyperliquidX, the engine powering Phantom Perps, is known for its high-performance, non-custodial trading infrastructure. It provides deep liquidity, fast transaction settlement, and compatibility with multiple blockchains. This ensures that Phantom users enjoy a smooth and secure trading experience, with the added assurance of self-custody.

Risks and Regulatory Considerations

While the accessibility of Phantom Perps is a good option for many, it also introduces risks, especially for inexperienced traders. Leverage can magnify both gains and losses, and the potential for liquidation is real if markets move against a position. Phantom has implemented risk management tools and educational prompts to help users trade responsibly, but it urges caution, especially for those new to derivatives. It’s important to note that Phantom Perps is not available in all jurisdictions, including the UK, due to regulatory restrictions on retail derivatives trading.

Conclusion

With the launch of Phantom Perps, Phantom is redefining the usage of crypto wallets, transforming them from a simple storage solution into a full-fledged trading hub. By combining ease of use, advanced features, and the power of HyperliquidX, Phantom is setting a new standard for in-wallet trading and democratizing access to some of crypto’s most dynamic markets.