ImperialPerps folds Armada into its main platform and shuts down Phoenix

ImperialPerps is merging its Armada perpetuals engine into the main Imperial platform and ending Phoenix. The goal is one perpetual futures exchange on Solana instead of several. What Imperial is actually changing The announcement came on October 20, 2026. Armada, Imperial’s proprietary automated market maker for perpetuals, now becomes part of the core Imperial product. Phoenix, which ran as a separate platform, is being terminated. Imperial’s stated aim is a single, cohesive decentralized exchange. Combining venues should, in theory, produce deeper order books and tighter spreads. The numbers behind the decision Armada has been gaining traction. It recorded $23.16 million in notional trading volume in the week of October 13, according to the research findings. That was a 52% jump from the week before. The fee difference is likely the bigger story for active traders. Armada charges a taker fee of 1 basis point, or 0.01%. Phoenix previously charged 3.5 basis points. Going from 3.5 to 1 basis point cuts that cost by more than two thirds. The unified platform also comes with some big claims. Imperial says it will offer up to 250x leverage and more than 200 trading markets. It also sa...