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Cryptocurrency News Articles
Phantom Wallet Is Now on Dydx, Enhancing User Access
Sep 27, 2024 at 06:30 am
Dydx has announced its integration of the Phantom Wallet, a leading Solana-based non-custodial wallet, into its decentralized finance (defi) platform.
Dydx, a decentralized finance (DeFi) platform, has announced the integration of Phantom Wallet, a leading Solana (SOL)-based non-custodial wallet, into its trading ecosystem. This integration is designed to streamline access for over 7 million Phantom users, furthering Dydx's aim to broaden participation in decentralized trading.
The integration of Phantom Wallet will enable its users to easily connect their wallets and begin trading on the Dydx decentralized exchange (DEX). This move is part of Dydx's broader strategy to enhance 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," said Charles d'Haussy, CEO of the Dydx Foundation, in a statement. "This provides Phantom's 7 million users with direct access to Dydx's professional trading DeFi protocol."
Considering Phantom's user-friendly design, the integration is expected to facilitate a smoother trading process on the Dydx platform. As Dydx prepares for the launch of its next major update, Dydx Unlimited, the integration will introduce new trading features such as permissioned keys and enhanced liquidity via its Megavault system.
Dydx launched its own blockchain network, the Dydx Chain, in October 2023 and has rolled out several updates since its introduction. The project's native token, dydx (DYDX), has seen a 5.4% increase in the past 24 hours, 11.1% over the past week, and 18.2% over the last two weeks. As of September 26, the token holds a market valuation of $669 million, ranking it as the 118th largest cryptocurrency.
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