New York, New York, 16th September 2026, Chainwire
New York, New York, September 16th, 2026, Chainwire
Merchants on the Solana perpetuals trade can now margin any place with SOL.
At this time, SOL has been enabled as collateral on Phoenix, the perpetual futures trade on Solana. Merchants can now put up SOL as margin, alongside USDC, for positions on any of the 80+ Phoenix markets from crypto to equities and commodities.
Till now, a SOL holder who needed to commerce perpetuals on Phoenix was required to promote their SOL for stablecoins. With SOL collateral, the SOL is ready to keep within the account and again the place immediately.
“Merchants on Solana right this moment mustn’t need to make the tradeoff between holding spot and buying and selling perpetuals,” mentioned Eugene Chen, CEO of Ellipsis Labs, the event group behind Phoenix. “SOL collateral solves this tradeoff. A dealer can keep lengthy SOL, put up it as margin, and run a foundation commerce or take a place in any Phoenix market with out touching USDC.”
Margin and Collateral Overview
Positions are margined in opposition to accessible collateral. USDC counts at 100% of its worth and SOL is at present set to 80%. Out there margin strikes with the value of SOL. Cross-margining and settlement are unchanged, with revenue and loss persevering with to settle in USDC. If an account falls beneath its upkeep threshold, the chance engine mechanically reduces positions first and sells solely the SOL required to cowl any USDC shortfall.
Deliberate Enhancements
SOL is the primary asset added below Phoenix’s multicollateral system, which is designed to assist further collateral sorts over time. Every collateral asset carries its personal oracle, weight, and liquidation parameters. Ellipsis Labs expects to allow additional property because the platform grows, knowledgeable by person demand. Collateral weights, margin parameters, and liquidation thresholds are topic to vary and are printed at docs.phoenix.trade.
About Phoenix
Phoenix is a non-custodial perpetual futures trade developed on Solana by Ellipsis Labs. It provides perpetuals on crypto, equities, and commodities, tradable with leverage, 24 hours a day, on a completely on-chain orderbook. Each order, fill, and liquidation is executed on the Solana blockchain, so execution is publicly verifiable and dealer funds are held in on-chain program accounts ruled by open-source good contract logic, not by any centralized entity. Ellipsis Labs has constructed on-chain markets on Solana since 2023, starting with the unique Phoenix orderbook, which processed greater than $75 billion in spot quantity. Phoenix is on the market at phoenix.trade. Not available in the U.S. or other prohibited jurisdictions.
Contact
Gunnar Olsen
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