Phoenix now accepts SOL as collateral for perpetual positions across crypto, equities, and commodities without USDC conversion.
DeFi & Yields ·
Phoenix has enabled SOL as collateral for perpetual positions across crypto, equities, and commodities markets, eliminating the need for users to convert SOL to USDC before opening trades. This expands the utility of SOL within the platform's derivatives infrastructure by allowing direct collateralization in the native token.
The move simplifies the onboarding process for SOL holders seeking leveraged exposure across multiple asset classes. Previously, participants would have needed to swap SOL for a stablecoin intermediary before posting collateral; direct acceptance reduces friction and transaction costs while keeping positions denominated in SOL throughout the lifecycle.
The broader implications remain unclear—there is no public detail on collateral haircuts, margin requirements, or whether the integration extends to other Solana-native tokens. The announcement does not specify whether this change reflects new technical infrastructure or a policy adjustment on Phoenix's part.