Hyperliquid Expands To Solana Ecosystem With Phantom Partnership

Phantom, a digital asset wallet provider, has teamed up with Hyperliquid to launch perpetual futures trading. This collaboration aims to bring leveraged crypto trading to users within the Phantom wallet, offering easy access to over 100 crypto markets. The integration will offer users the ability to trade without the need for additional apps, providing a streamlined, mobile-first experience.

Phantom’s Mobile-First Approach to Perpetual Futures

Phantom’s latest feature allows users to engage in perpetual futures (perps) trading directly within their wallet. The addition of Hyperliquid’s technology allows Phantom users to access over 100 markets, including popular assets like Bitcoin (BTC), Solana (SOL), and Ethereum (ETH), as well as meme tokens like Dogecoin and PEPE.

In addition, Phantom has introduced leveraged trading, allowing users to open and close positions by using its intuitive mobile interface. The users can control their risks better with the automated stop-loss, and take- profit orders as well as various other features. The integration also guarantees that users can trade in their crypto and automatically exchange it with SOL-to-USDC conversion to simplify the trade.

Subsequently, Phantom’s focus on a mobile-first design aims to simplify the trading process for users, eliminating the need for complex, desktop-only platforms.

“Our mission is to make crypto easy to use—now we’re doing the same for perps,” said Femi Awomosu, Senior Product Manager at Phantom.

Key Features of Phantom’s Perps Trading

This new addition can provide a wide range of benefits to the users, including the availability of a great scope of assets and leverage opportunities. In addition to trading long/short position with leverage, phantom users can speculate on token price without owning the underlying tokens. Moreover, traders have the ability to hedge by selling short in case they foresee a fall in prices.

Its connection with Hyperliquid provides substantial liquidity, quick settlement of transactions, and stability. It is made to suit a user who might be new to crypto futures trading with a user interface that is simple to operate, but still giving the more advanced tools that are required by traders with more experience.

“With Phantom’s intuitive, mobile-first design, you can easily open, close, and manage positions directly within your wallet,” the company stated. This partnership with Hyperliquid helps democratize access to a more professional level of trading.

Managing Risks in Perpetual Futures Trading

Although there are a lot of opportunities in trading perps, there are risks involved, particularly when one is employing leverage. With higher possible returns comes the likelihood of being exposed to higher losses. Phantom warns that there is potential liquidation which may arise when the prices of assets shift contrary to a position made by a trader.

Leveraging positions can increase the risk of liquidation, where a trader is forced to close a position due to unfavorable price movements. Additionally, perpetual futures involve funding rates, which are periodic payments made by traders holding positions for long periods. These funding rates can reduce profitability, particularly for those using higher leverage.

However, although the new feature provided by Phantom is accessible to a vast number of users, the trading feature in perpetual futures is not aimed at the audiences in the UK yet.