Core Insights - MetaMask has launched perpetual futures trading on its mobile platform, allowing users to trade various assets quickly and efficiently [1][2] - The platform supports trading on over 150 tokens and select US stocks, with the ability to go long or short [1] - Users can leverage up to 40x on their trades, providing significant trading flexibility [1] Group 1: Trading Features - Perpetual futures contracts allow leveraged long or short exposure to asset prices without expiry, offering flexibility for both quick trades and long-term strategies [1] - The trading experience is designed for speed, with trades reportedly settling in seconds, enabling traders to act on market opportunities promptly [2] - Users can fund their perps account with any EVM-compatible token, which will be automatically converted to USDC for trading [2] Group 2: Supported Assets - The platform allows trading on a variety of cryptocurrencies, including ETH, BTC, LINEA, XPL, and BONK, as well as major US stocks like Nvidia, Tesla, Apple, Microsoft, Palantir Technologies, and Robinhood [1] - Currently, perpetual trading is not available to users in specific regions, including the US, UK, Ontario (Canada), Belgium, and countries on the US sanctions list [2]

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Product Overview - Phantom wallet integrates Hyperliquid perps, allowing users to trade perpetual contracts within the wallet [1][2] - The integration simplifies the process of adding collateral and trading perps, making it accessible to casual users [2][4] - Users can trade 100 different Hyperliquid perp contracts, expanding access to a wide array of assets [2][5] Key Features - HyperUnit integration enables fast and simple deposits, automatically converting SOL to USDC for margin [2][5] - The interface provides charts and options to go long or short, set leverage, and manage take-profit and stop-loss levels [3] - Currently, only directional long or short market orders are available, lacking limit order functionality [6] Adoption and Referrals - Phantom's referral program (PURPS code) has onboarded over 5,000 users to Hyperliquid perps [7] - Phantom has become one of the top 30 all-time referrers, indicating significant adoption [7] Fees - The total fee is approximately 0.1% on volume, comprising the standard Hyperliquid fee and a 0.05% Phantom wallet fee [8] - The fee is about 2x higher than trading natively on Hyperliquid with market orders but cheaper than competitors like Robinhood (RH) [8] Future Development - Potential future developments include adding limit order execution and staking HYPE for cheaper user fees [10]