ImperialPerps is consolidating its operations on the Solana blockchain by merging its Armada perpetuals engine into the main Imperial platform. As part of this strategy, the company is shutting down its separate Phoenix exchange to focus on a single, unified decentralized venue.
The transition follows a seed funding round in early October 2026, where ImperialPerps raised $1.5 million led by Foundation Capital. The unified exchange aims to offer up to 250x leverage across more than 200 trading markets, with claims of order books seven times deeper than current Solana venues.
Cost efficiency is a key component of the merger. The Armada engine charges a taker fee of 0.01%, significantly lower than the 3.5 basis points previously charged by Phoenix. This reduction in fees is intended to attract higher trading volumes to the consolidated platform.
Armada has shown growth, recording $23.16 million in notional trading volume during the week of October 13, marking a 52% increase from the previous week. The platform's future performance will depend on its ability to retain users during the migration from Phoenix.
