Phoenix Trade introduces SOL as collateral for perpetual positions
Summary
PhoenixTrade has announced the introduction of $SOL as collateral, enabling users to support perpetual positions across various markets, including crypto, equities, and commodities, without the need for USDC. This move aligns with the trend on decentralized perpetuals platforms on Solana, which are increasingly offering native assets like SOL as margin options, thereby enhancing user flexibility in trading.
Tokens
$SOL
Analysis
Phoenix Trade: Phoenix Trade is a non-custodial decentralized exchange for perpetual futures built on the Solana blockchain by Ellipsis Labs, utilizing a crankless fully on-chain order book for atomic settlement. The platform supports leveraged trading of perpetual contracts with no expiration dates across multiple asset classes. It has introduced SOL as collateral to enable users to back perpetual positions in crypto, equities, and commodities without USDC. Trading Scope: Perpetual futures on specialized DEXes now facilitate leveraged exposure to a widening range of markets including traditional equities and commodities. Collateral Options: Decentralized perpetuals platforms on Solana are expanding beyond stablecoin-only margin to include native assets like SOL for greater user flexibility.
Categories
cryptosolanaperpsrippletechdefihyperliquid
Related sources
- https://x.com/i/user/1680807503683022848
- https://docs.phoenix.trade/
- https://www.quicknode.com/builders-guide/tools/phoenix-trade-by-phoenix
- https://phnx.trading/
- https://x.com/i/user/1106569888913637377
- https://phoneixtrade.io/about-us/
- https://x.com/i/status/2100261785500815695
- https://www.frontrun.vc/c/phoenixtrade/
- https://x.com/i/status/2100262021212111147
- https://x.com/i/user/1675883225321807874
- https://x.com/i/status/2100261458240000147
- https://www.kucoin.com/news/flash/phoenix-launches-mobile-web-trading-for-solana-perpetuals
- https://coinfomania.com/how-phoenixtrades-new-feature-could-transform-perpetual-trading/
- https://x.com/i/status/2100262246496469231
- https://cryptobriefing.com/phoenixtrade-open-interest-10m-solana/
- https://x.com/i/user/267047527
- https://x.com/i/status/2100261737534795941
- https://phemex.com/news/article/phoenix-trade-launches-mobile-web-trading-for-solana-perpetuals-87699
- https://solanacompass.com/projects/phoenix
- https://x.com/i/user/1903540654438797312