Solana perpetuals project ImperialPerps announced on October 20, 2026 the merger of its Armada engine with the main Imperial platform and the closure of Phoenix. Armada had recorded $23.16 million in notional trading volume in the week of October 13, a 52% jump from the previous week. The unified platform will charge a 1 basis point (0.01%) taker fee, compared to Phoenix’s 3.5 basis points, cutting costs by more than two thirds. ImperialPerps also raised $1.5 million in a seed round in early October 2026, primarily led by Foundation Capital. The merged platform will offer up to 250x leverage, more than 200 trading markets, and claims order books seven times deeper than existing Solana venues.
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