Phoenix Perpetuals Launch Positions Solana for a New Era of On-Chain Derivatives

Source: CryptoNewsNet Original Title: Phoenix Perpetuals Launch Positions Solana for a New Era of On-Chain Derivatives Original Link: Ellipsis Labs introduces Phoenix Perpetuals on Solana, marking the next step in crankless and high-performance derivatives trading on the blockchain. Solana emphasizes that this release represents a significant upgrade to its ecosystem through the introduction of a fully on-chain perpetual futures exchange with low-latency orders and deep liquidity from day one. This demonstrates Solana’s technological advances in DeFi, positioning efficiency and reliability as fundamental competitive advantages for any L1 blockchain hosting financial applications.

Real-Time Performance and Execution

The platform demonstrates the capacity to execute trades up to $8 million with less than 1 bps of price impact, showcasing the power of its underlying liquidity model. Key features include gasless implementation, immediate signing via QR wallet authentication, and the elimination of cranks that previously restricted on-chain throughput. These capabilities enable traders to place and update orders in near real-time with minimal slippage, even on large trades. This reflects Solana’s commitment to delivering responsive trading experiences within a security-rich, fully on-chain settlement environment.

Building on Phoenix Spot Momentum

Ellipsis Labs leverages the same verifiable crankless orderbook technology powering Phoenix Spot, which currently handles over a billion dollars in monthly trading volume. This integration strengthens Solana’s ecosystem by unifying spot and derivatives markets. The unified infrastructure enables developers to create more sophisticated financial products while providing traders with predictable conditions, deeper liquidity, tighter spreads, and guaranteed execution. This positions Solana to compete with legacy perpetual DEXs that rely on off-chain matching or slow execution paths, establishing itself as a chain capable of handling large-scale derivatives flows and laying groundwork for long-term DeFi derivatives development.