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Phantom Wallet Partners with Hyperliquid to Offer Perpetual Contracts Trading

Phantom's collaboration with Hyperliquid enhances trading capabilities, allowing users to leverage up to 40x and significantly boosting user engagement in the Solana ecosystem.

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Summary

Phantom has partnered with Hyperliquid, enabling users to trade perpetual contracts within the wallet with up to 40x leverage. This partnership could attract significant new users to Hyperliquid, leveraging Phantom's 15 million monthly active addresses. Since launching contract trading, Phantom has recorded over $120 million in trading volume within four days, alongside competitive fee structures that enhance liquidity for Solana users.

Terms & Concepts
  • Perpetual Contracts: A type of derivative that allows traders to speculate on the price of an asset without an expiration date.
  • Leverage: The use of borrowed funds to increase potential returns on investment, allowing traders to control larger positions with a smaller amount of capital.
  • Solana Ecosystem: A high-performance blockchain platform designed for decentralized applications and crypto projects, known for its fast transaction speeds and low fees.