dYdX Partners with Phantom Wallet for Enhanced DeFi Trading

dYdX Chain Integrates Phantom Wallet to Streamline Trading for 7M User

The dYdX Foundation has revealed that it is partnering with the Phantom Wallet to enhance trading for users of the dYdX trading platform. This integration significantly improves the ability to interact with the dYdX DeFi protocol and provides Phantom’s many consumers with a direct means of doing so.

Expanded Wallet Support

The addition of Phantom Wallet to dYdX’s roster of supported non-custodial wallets marks a significant milestone. Phantom now joins other prominent wallets such as MetaMask, Coinbase Wallet, OKX Wallet, and Keplr. This expanded support underscores dYdX's commitment to providing versatile and accessible trading options for its users.

Charles d'Haussy, CEO of the dYdX Foundation, highlighted the strategic importance of this move, stating, "Following the integration of Solana's Raydium markets into dYdX, integrating the leading Solana wallet, Phantom, was a logical next step. This delivers Phantom’s 7 million users with direct access to dYdX’s professional trading DeFi protocol."

Seamless User Experience

The integration enables users to link their Phantom wallets to dYdX and enable them to deposit USDC and trade on dYdX’s order book. Since Phantom is connected with the idea of design and the easy access to web3, it is also connected with the mission of dYdX which is to democratize decentralized finance.

This integration is particularly timely since it comes before what is expected to be the biggest update to the dYdX protocol, the dYdX Unlimited. Phantom currently has over 7 million users; thus, this integration will create chances for the increase of the user base on the platform as the trading experience will be enhanced.

Looking Ahead: dYdX Unlimited

The forthcoming release of dYdX Unlimited is expected to revolutionize the protocol's capabilities. Here are some of the key features to look forward to:

Trade Anything: dYdX Unlimited will create a nearly infinite amount of perpetual markets, including crypto-assets and prediction markets, which will be beneficial for traders.

Unmatched Liquidity with MegaVault: The implementation of a cutting-edge liquidity pool called MegaVault will support all markets listed on dYdX, enhancing capital efficiency and creating more trading opportunities.

Permissioned Keys: This feature will offer users granular control over wallet access, significantly improving security for traders on dYdX.

The integration of Phantom Wallet not only enhances the current trading experience on dYdX but also sets the stage for future innovations in decentralized finance.

About the dYdX Foundation

The dYdX Foundation’s mission is to enable and expand the dYdX protocol and its communities, developers, and Decentralized Governance. The dYdX Chain software is open source, so anyone is free to utilize it or incorporate it into their tasks under the terms of the license governing it.

About Phantom

Phantom is a thoughtfully designed, easy-to-use multi-chain wallet created for everyone. Founded by a team of engineers, designers, and former founders, Phantom aims to simplify crypto for all users. With over seven million users, Phantom has facilitated billions of dollars in volume through its built-in swap facility.