Phantom partners with Hyperliquid to launch Perptual Futures trading, one-click open 40x leverage contracts in the Wallet.

The blue-chip public chain Solana's native multichain wallet Phantom officially launched Perpetual Futures trading functionality, allowing users to enter and close positions directly within the wallet, enjoying up to 40x leverage and real-time price notifications without having to switch to an exchange. This feature is powered by Hyperliquid technology, showcasing the potential trend of asset management and trading integration in Web3 wallets. Hyperliquid CEO Jeff Yan praised Phantom for launching this feature, calling it a bold move that 'brings finance on-chain.'

Phantom Wallet: Bringing Perptual Futures Trading to Mobile

Phantom is launching support for Perptual Futures trading, starting with users in the EU, supported by Hyperliquid. The product utilizes a permissionless integration with Hyperliquid's API to access the market, allowing eligible users to trade perps directly within the popular web3 Wallet while retaining non-custodial control over their positions.

Mobile-First Experience: It provides a mobile-first experience designed to feel like an intuitive extension of the Phantom core interface, offering up to 40x leverage, stop-loss, take profit, and real-time alerts.

Streamline User Operations: Phantom has a clear goal: to simplify cryptocurrency trading for the average user. According to its team introduction, most Perp platforms currently cater to advanced traders with cumbersome user interfaces. Phantom breaks this status quo by adopting a wallet-native approach that is intuitive and user-friendly, making it easier for newcomers to operate. All content can be accessed through the "Home" tab, allowing users to avoid switching between platforms or applications. Instant alerts and built-in automation features enable even trading novices to manage risks more confidently.

Non-custodial control: Users can trade Perptual Futures directly in the Wallet while retaining non-custodial control over their positions, which aligns with the core spirit of Web3.

This launch embodies Phantom's firm belief: wallets, not exchanges, will become the main entry point for on-chain activities. However, Phantom's move comes at a time when platforms like Robinhood are launching new perpetual futures trading programs to attract users, making the market competition fierce.

Hyperliquid: Infrastructure for High-Performance Decentralized Trading

Hyperliquid was initially a high-performance, non-custodial Perptual Futures platform, which later expanded into HyperEVM. HyperEVM is an Ethereum-compatible smart contract and dApp network built on its Layer1 (L1) foundational software HyperCore. It supports collateral deposits from multiple blockchains, allowing users to trade Perptual Futures and interact with EVM contracts while maintaining self-custody. According to a previous report by The Block, Hyperliquid generated over $1.57 trillion in Perptual Futures trading volume in the past 12 months.

Hyperliquid is built on its self-developed Layer1 blockchain. It is known for providing high-speed, low-slippage trading and permissionless monetization tools, especially suited for developers. Its infrastructure enables Phantom to deliver institutional-grade performance within a mobile wallet. This integration utilizes the "builder code" profit feature. This allows applications like Phantom to earn transaction fees natively without compromising decentralization or liquidity quality. For traders, this means faster execution speeds, deeper order books, and fewer transaction failures.

Hyperliquid has recently become a significant player in the DeFi space, surpassing well-known giants like Ethereum and Solana. Its daily trading fee revenue reaches as high as $1.7 million, and the total value locked (TVL) has surged by 147.6%, clearly indicating that this is not just a fleeting moment, but a major transformation in decentralized finance.

Phantom's Multichain Strategy and Ecosystem Expansion

Phantom was initially a Web3 Wallet focused on the Solana ecosystem in 2021, capturing the emerging blockchain adoption wave driven by the bull market at that time. However, its multichain strategy was launched in April 2023, expanding support for Ethereum and Polygon blockchains. Subsequently, the platform integrated with Bitcoin in December 2023, adding support for mainstream cryptocurrencies Ordinals and BRC-20 tokens.

Recently, Phantom launched access to the Move-based Layer 1 network Sui in January. Additionally, it plans to support the highly anticipated Monad blockchain at launch, which is currently in the testnet phase.

Earlier this year, Phantom announced that it raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, reaching a valuation of $3 billion. Despite ongoing rumors about the application conducting airdrops when deploying social features, Phantom clarified that it has no plans to issue its own token.

The Arrival of the Era of Action DeFi

Hyperliquid CEO Jeff Yan praised Phantom for launching this feature, calling it a bold move that "brings finance on-chain." He emphasized that Phantom can now rely on Hyperliquid's deep liquidity and fast execution while focusing on providing a clean and intuitive user experience.

Jeff Yan's praise embodies a broader significance: this release is a milestone for DeFi. It showcases the infinite possibilities that can arise from the combination of infrastructure and user experience. Phantom has built a clean front end. Hyperliquid provides a high-performance back end. Together, they are creating a new blueprint for mobile-first, high-performance DeFi. As both companies rapidly expand, this collaboration may herald a new generation of crypto products that will be more powerful and accessible to everyone.

Conclusion:

The collaboration between Phantom Wallet and Hyperliquid marks a transition for Web3 wallets from mere asset management tools to more comprehensive financial service gateways. This innovation not only provides users with a convenient and efficient perpetual futures trading experience but also opens new avenues for the mobilization and popularization of decentralized finance. As Hyperliquid continues to dominate daily yields, Ethereum and Solana may need to rethink their strategies to keep pace with this rapidly evolving protocol. Integrating stablecoins into the Hyperliquid system could fundamentally change the payment methods for freelancers, facilitating faster, cheaper, and more secure transactions.