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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Phantom Wallet introduces on-chain perpetual contract trading with 40x leverage.
Phantom Wallet has just launched the on-chain perpetual futures trading feature, allowing leverage of up to 40x. This feature simplifies derivatives trading, enabling users to execute trades without leaving their wallet. They just need to send SOL and it will automatically convert to USDC, then select the desired market and leverage.
Although welcomed by the cryptocurrency community, this feature also raises concerns as futures contracts carry high risks. A bad trade with high leverage can lead to rapid losses. Phantom emphasizes responsible usage, providing warnings and requiring users to agree to the risks before trading. This move could change how users approach the derivatives market and shape the future of cryptocurrency wallets.