Decrypt Launches Perps Trading on Solana

Decrypt Integrates Perpetual Futures Trading, Blurring Lines Between News and Action

Decrypt, a digital media platform focused on cryptocurrency and technology, is pioneering a new model for financial journalism by integrating perpetual futures trading directly into its content. This move, powered by the on-chain exchange Phoenix on Solana, marks the first time a media outlet will offer direct trading capabilities alongside its reporting.

From Reading to Trading in One Place

The innovation allows readers to take long or short positions on cryptocurrencies, stocks, and commodities directly from the same platform where they consume news. This eliminates the need to switch between applications, connect external wallets, or transfer funds between different services.

Ilan Hazan, co-founder and COO of Decrypt, explained the rationale behind the integration. “Information influences decisions, shapes opinions, and moves markets,” Hazan stated. “A reader might discover an opportunity through a publication, develop a view, and then leave to act on it somewhere else. The publisher monetizes the impression, while someone else monetizes the transaction. This means the publisher captures only a small part of the economic activity that its information and distribution generates.”

By merging media and financial products, Decrypt aims to capture more of the economic activity its content generates. “We’re allowing readers to go from understanding what’s happening in the markets to taking a position, without leaving Decrypt,” Hazan added.

Kabir Sethi, Head of Business Development at Phoenix, echoed this sentiment. “Partnering with Decrypt closes the gap between reading the news and acting on it,” Sethi said. “With over 100 Phoenix perpetuals markets built directly into Decrypt, readers can take in a story, form a view, and trade it in the same place. We are excited to help play a part in transforming Decrypt into a true information exchange.”

Understanding Perpetual Futures

Perpetual futures, or “perps,” are financial contracts that enable traders to speculate on an asset’s price movements without an expiration date, often utilizing leverage. Leverage amplifies both potential gains and losses, and positions can be rapidly liquidated if market conditions turn unfavorable.

Phoenix, developed by Ellipsis Labs, offers 24/7 trading across a range of markets, including cryptocurrencies, U.S. stocks, gold, and pre-IPO companies. According to its website, the platform provides up to 40x leverage and competitive fees. Ellipsis Labs, which exclusively builds on Solana, has seen significant success with its perps offerings. Eugene Chen, CEO of Ellipsis Labs, has previously described perps as having “crazy product market fit.”

Chen, speaking on a podcast earlier this year, highlighted the profitability of perps exchanges, calling them “very, very strong, high revenue businesses, probably some of the best in the industry.” He detailed Phoenix’s trading mechanism, which routes trades on-chain and splits them between its order book and market makers to ensure optimal pricing.

The Decrypt Money Account

Perpetual futures trading will be facilitated through the Decrypt Money Account, a self-custodial account on Solana designed for ease of use, eliminating the need for seed phrases, gas fees, or bridging. This unified account already supports Decrypt Predict markets, Jupiter-powered token swaps, and an Earn feature, and now includes perpetual futures. The platform also offers confidential transfers, a feature recently added through infrastructure firm Helius.

The integration allows users to react instantly to market-moving news, such as reading about a public company’s earnings and immediately taking a position on its stock, or following a breaking story about Bitcoin and going long or short in real-time.

The Information Exchange Vision

The Information Exchange, first announced in September, represents Decrypt’s vision for the future of financial media. It aims to be a comprehensive destination that combines news, intelligence, market data, probability assessments, and direct financial participation. The addition of perpetual futures trading is the latest step in building this integrated infrastructure.

Decrypt’s initiative underscores the evolving relationship between news consumption and financial action, enabling readers to not only stay informed but also to participate directly in the markets influenced by that information.

Disclaimer: Perpetual futures are leveraged products and carry a high risk of loss. Availability may vary by region.