Phantom Wallet Shakes Up Crypto: On-Chain Perpetual Futures Now Live with 40x Leverage

Phantom just dropped a grenade in DeFi’s playground—launching on-chain perpetual futures with eye-watering 40x leverage. Traders, meet your new high-stakes adrenaline rush.

No more middlemen, no more CEX headaches—just raw, unfiltered exposure to crypto’s wildest price swings. The bulls and bears are already lining up.

And let’s be real: because what’s crypto without a little reckless abandon? (Wall Street’s risk managers just felt a chill down their spines.)

Phantom taps Hyperliquid to bring fast, gas-free perpetual to everyday traders

Phantom’s latest perpetual futures have been built on Hyperliquid, a rapidly scaling LAYER 2 decentralized trade protocol with high-speed infrastructure and zero gas fees. Thanks to this integration, Phantom users can now trade across over 100 diverse markets in the same app they already use to manage their tokens and NFTs.

They cover all major markets, including BTC, ETH, and SOL, as well as emerging altcoins such as AVAX, ARB, and LINK. The system even holds high-volatility meme coins like Dogecoin, Pepe, and Bonk, leaving traders with plenty of choice if they want to take a risk on high-risk speculation.

So, Hyperliquid deals with the nitty and gritty, like order execution and risk management, and Phantom is the beautiful and user-friendly interface. The result is a complete trading tool that can get anyone hands-on with advanced trading tools.

Phantom suggested this is just the start in a blog post discussing the news. The team hopes to expand the feature set, adding more educational tools and social features to help make derivatives trading more accessible and engaging for beginners.

Phantom’s Futures feature sparks debate on risk and accessibility

Phantom’s innovation is well-received among the crypto community but is also a cause for concern.

Perpetual futures are high-risk financial products. They enable traders to raise the stakes but also the risk of losses. A bad trade at 40x leverage may end quickly and suddenly, liquidating, especially if markets are turbulent.

Professional traders have tools for managing risk, stopping losses, hedge strategies, and complex data analyses that protect them. Casual users often don’t.

By putting derivatives just a few taps away, Phantom might also bring these risks to a new generation of unprepared users. Its critics say that ease of access could encourage reckless trading, especially among younger or novice investors.

The Phantom team still stresses responsible use. The platform features warnings, educational pop-ups, and even an explicit disclaimer before a user can open a futures position. The feature is also opt-in, so you must consent to the risks before taking advantage of it.

And Phantom’s ambitious MOVE amounts to a litmus test for whether retailers will adopt crypto derivatives. It’s a sign that wallets can’t simply be repositories anymore; they are evolving into full-blown financial ecosystems.

If successful, this move could change the purpose of self-custody wallets, transforming them into potential primary investments and eventually, trading and earning platforms.

In the wrong hands, it could leave a generation of over-leveraged, under-informed users tangled in the volatility of crypto markets.

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