Active

PHAME Protocol Review 2026: PulseChain Perpetuals

PHAME Protocol is a PulseChain perpetuals DEX built around a PHLP liquidity pool and PHAME staking. Its core design is clear, but key trading, fee and audit details are not established.

Pulse

By the DappsAtlas editorial team · Updated Nov 6, 2026

DappsAtlas score

—/10

Not rated

Visit PHAME Protocol

Our verdict on PHAME Protocol

PHAME Protocol may suit PulseChain users seeking a decentralized venue for perpetual trading, or users interested in its PHLP liquidity model and PHAME staking. Its main strength is a clearly stated product focus with a named pool and token, alongside a dashboard that tracks protocol activity. The main caveat is that important operating details—including supported markets, leverage, fees and pool risks—are not established. Two audits are listed, but their scope and reports are not established, so users should not treat that as proof of safety.

Score breakdown

How PHAME Protocol scores

Security: n/a
Ease of use: n/a
Fees: n/a
Features: n/a

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is PHAME Protocol?

PHAME Protocol is a decentralized perpetual exchange on PulseChain. Its stated design includes PHLP, a liquidity-provider model, and staking for its PHAME governance token. A separate statistics dashboard lists analytics for volume, fees, pool composition and performance, but the project’s market, fee and pool parameters are not established.

How PHAME Protocol works

PHAME Protocol describes itself as a perpetuals DEX. Perpetual contracts let traders take long or short exposure without a fixed expiry, but they can involve leverage, funding payments and liquidation. PHAME does not publish enough detail here to establish its market list, leverage limits or exact trading mechanics.

Its stated liquidity model is PHLP, while PHAME is described as a governance token that can be staked. The specific pool design, how staking works, and how either relates to trading fees or risk management are not established.

3 features

Key features

Perpetual trading

The protocol describes its product as a decentralized perpetual exchange running on PulseChain.

PHLP liquidity pool

PHLP is identified as the protocol’s liquidity-provider model; pool mechanics and risk controls are not detailed.

PHAME staking

PHAME is the named governance token, with staking described as part of the protocol.

Pros and cons

What we like

Clearly identifies itself as a perpetuals DEX on PulseChain.
Names its liquidity model, PHLP, and governance token, PHAME.
A dedicated statistics dashboard lists analytics for volume, fees and pool performance.

Watch out for

Public sources do not specify supported markets, leverage limits or liquidation rules.
A user-facing fee schedule is not published.
Two audits are listed, but auditor names, reports and audit scope are not established.
Details on the PHLP pool’s risk controls and PHAME staking are limited.

PHAME Protocol fees

A user-facing fee schedule is not published. A statistics dashboard lists fee analytics, but that does not establish the fees a trader or liquidity provider will pay; check the app for applicable costs before acting.

Is PHAME Protocol safe?

Two audits are listed for the protocol, but auditor names, report links, scope and findings are not established. An audit listing alone does not remove smart-contract risk. Perpetual trading can lead to rapid losses or liquidation, and providing liquidity adds pool-specific risks.

The custody model, incident history, team details and regulatory status are not established. Check that derivatives trading is legal where you live. This product is for adults 18+; trade responsibly and do not risk money you cannot afford to lose.

4 steps

How to get started with PHAME Protocol

1
Open the official PHAME Protocol app and review its current interface and notices.
2
Confirm that your wallet supports PulseChain and that you are using the correct network.
3
Check available markets, trading parameters, and any displayed fees before placing a position.
4
Review the PHLP pool and PHAME staking details separately before providing liquidity or staking tokens.

Open PHAME Protocol

Who PHAME Protocol is for

PHAME Protocol is aimed at crypto users familiar with PulseChain and perpetual derivatives, as well as users researching PHLP liquidity provision or PHAME staking. It is a poor fit for beginners who need clearly published trading parameters, fees and risk controls before interacting.

PHAME Protocol FAQs

What is PHAME Protocol?

PHAME Protocol describes itself as a decentralized perpetual exchange on PulseChain. It also describes PHLP as its liquidity-provider model and PHAME as a governance token used for staking.

Which chain does PHAME Protocol use?

The project identifies PulseChain as its chain. Check the app for currently supported markets and wallet requirements before connecting or trading.

Is PHAME Protocol a gambling site?

PHAME Protocol is not described as a gambling product. Trading perpetuals still involves substantial risk, including liquidation and potential loss of funds; use only if derivatives are legal where you live and you understand the risks.

Compare

PHAME Protocol alternatives

All alternatives

Jupiter Perpetual Exchange

Derivatives

Jupiter Perpetual Exchange is a Solana perpetuals venue where LPs fund a pool that leveraged traders trade against at oracle prices.

TVL $665M−4.6%Solana

Decibel

Derivatives

Decibel is an Aptos-based onchain trading engine for perpetual futures, spot and yield, aimed at experienced crypto traders.

TVL $29.2M−0.4%Aptos

Hyperliquid HLP

Derivatives

Hyperliquid HLP is a community-owned vault that provides market making and liquidations on the Hyperliquid exchange for fee-share returns.

TVL $151M−11.9%Hyperliquid L1

dYdX V4

Derivatives

dYdX V4 is a decentralized perpetual futures exchange on its own Cosmos SDK chain, aimed at experienced crypto derivatives traders.

TVL $71.5M+2.2%dYdX

BULK

Derivatives

BULK is a newly listed perpetuals DEX on Solana that markets 20ms blocks, up to 40x leverage and portfolio margining.

TVL $7.44M−6.9%Solana

Ostium

Derivatives

Ostium is an Arbitrum perpetuals platform for FX, metals, equities and other real-world assets, with an API aimed at professional users.

TVL $2.43M−30.1%Arbitrum

Same category

More Derivatives dApps

Derivatives rankings

Hyperliquid

Derivatives

Hyperliquid is a Layer-1 blockchain with a non-custodial onchain exchange for perpetual futures and spot trading, aimed at active crypto traders.

Hyperliquid L1

Contango V2

Derivatives

Contango V2 is a DeFi protocol that automates leveraged looping on lending markets across ten chains for long, short and yield strategies.

TVL $16.3M+74.0%Arbitrum · Ethereum · Base +7

Gtrade by Gains Network

Derivatives

Gtrade is a non-custodial app from Gains Network for leveraged long and short trading on crypto, forex, stocks, indices and commodities, mainly on Arbitrum.

Arbitrum · Polygon

Orderly Bridge

Derivatives

Orderly is omnichain, shared-orderbook infrastructure that lets builders launch perpetual-futures DEXs, used by traders through those frontends.

TVL $23.5M−9.2%Ethereum · Solana · BNB Chain +16

MUX Perps

Derivatives

MUX Perps is a decentralized perpetuals trading protocol and aggregator offering up to 100x leverage across several chains, for experienced non-US traders.

TVL $9.00M−1.6%Arbitrum · Avalanche · BNB Chain +2