Phantom hires Hyperliquid market builders to embed perpetual futures into its wallet
AI Market Summary
Phantom's hire of Hyperliquid perpetuals market builders signals a push to embed exchange-like onchain derivatives directly into a major self-custody wallet. With ~15M MAUs and Solana-heavy distribution, deeper perp integration could accelerate retail participation and liquidity on Solana-native venues, intensifying competition with other wallets and DEX frontends. The shift underscores growing demand for onchain leverage, while elevating execution, margin UX, and liquidation-risk management as key differentiators.
Impact level
● Medium
Affected assets
SOL/USDT-0.51%
AI Insight · SOL/USDTAI Insight
▲ Bullish
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Phantom, a mainstream non-custodial wallet with more than 15 million monthly active users, said it has hired a team that previously led the build-out of a highly liquid perpetuals market on Hyperliquid. The move is aimed at integrating decentralized perpetual trading directly into Phantom’s wallet infrastructure rather than relying on an API connection. Hyperliquid now has more than $2 billion in total value locked, and its average daily perpetual volume is comparable to some mid-tier centralized exchanges. The step reinforces Solana’s position in on-chain derivatives and could also support demand for on-chain perpetual liquidity tied to major assets such as Ethereum and Bitcoin.
