Ledger announced native integration for perpetual contracts on May 6th (culpritin English) to their wallet, users will be able to open and manage leveraged trading positions directly from the Ledger Wallet app.
The interface and execution services are provided by Yield XYZ, a company built on Hyperliquid, a decentralized derivatives protocol that operates as an on-chain exchange (in chains).
Ledger only serves as a secure signing environment. Funds are moved into a Hyperliquid smart contract and remain tied to an address controlled by a Ledger device during the transaction, maintaining self-control (the user retains control of the private key).
However, according to a disclaimer posted with the ad, These funds are subject to risks inherent in the Hyperliquid Protocol. As long as there are open positions, including operational flaws and code vulnerabilities.
The new Ledger integration also includes a feature called Clear Signing. Show users exactly what they are approving before approving each action. According to Ledger’s announcement, this will ensure transparency in the signing process.
Implied risk of perpetual trading
A perpetual contract is a financial instrument that allows you to bet on an increase or decrease in the price of an asset without an expiry date, using borrowed capital that can magnify both profits and losses.
Leisure advertising emphasizes environmental safety; However, we also detail the risks that Clear Signing reduces.. For example, we are referring to automatic liquidation of positions if the margin falls below the required threshold, as well as periodic payments between long and short positions that can harm returns.
Finally, the company clarified that the new service is not available to users in the United Kingdom, United States, Ontario (Canada), France, or Belgium, according to a disclaimer posted with the announcement.
The virtual currency permanent market is in decline
According to data from the DeFiLlama platform, the market for decentralized perpetual contracts A trading volume of $25.362 billion was recorded in the last 24 hourswith an open interest of $16.235 billion. The cumulative total for the past 30 days has reached $564,878 million.
However, the graph shows that after a significant peak in activity in October-November 2025 (the month in which this activity exceeded USD 1 trillion); Since the beginning of 2026, the transaction volume has been in a declining phase.
Overall, the Ledger initiative was launched during a period of contraction for the decentralized perpetual market, with trading volumes and activity decreasing after the peak at the end of 2025, putting this consolidation in a more benign environment and still being adjusted.
(Tag Translation) Cryptocurrency
