Phantom Wallet Joins Dydx, Easing Access for 7 Million Users

Dydx has announced its integration of the Phantom Wallet, a leading Solana-based non-custodial wallet, into its decentralized finance (defi) platform. This integration aims to simplify access for over 7 million Phantom users, aligning with Dydxs goal to broaden participation in decentralized trading.

Phantom Wallet Is Now on Dydx, Enhancing User Access

The new integration allows Phantom Wallet users to easily connect their wallets and begin trading on Dydx‘s decentralized exchange (dex). This step is part of Dydx’s broader strategy to improve user experience by supporting multiple non-custodial wallets, including Metamask and Coinbase Wallet.

“Following the integration of Solana‘s Raydium markets into Dydx, integrating the leading Solana wallet, Phantom, was a logical next step,” Charles d’Haussy, CEO of the Dydx Foundation remarked. “This provides Phantom‘s 7 million users with direct access to Dydx’s professional trading defi protocol.”

As Phantom is known for its user-friendly design, Dydx believes the integration is expected to facilitate a smoother trading process on the platform. Looking ahead, the integration comes as Dydx prepares for the launch of its next major update, Dydx Unlimited, which promises to introduce new trading features such as permissioned keys and enhanced liquidity via its Megavault system.

Dydx introduced its own blockchain network, the Dydx Chain, in October 2023, and has implemented several updates since its launch. The projects native token, dydx (DYDX), has increased by 5.4% in the past 24 hours, 11.1% over the past week, and 18.2% over the last two weeks. As of Sept. 26, the token holds a market valuation of $669 million, ranking it as the 118th largest cryptocurrency.