AIrdrop Agent

Phoenix

Perp DEX · Solana

A DEX offering on-chain perpetual futures on Solana

Participation

Open now

Token

Not announced

Potential
Total funding

$44M

Major VCs
ParadigmElectric Capital
Last verified

2026-08-12

Potential is AirdropAgent's editorial assessment and does not confirm an official distribution.

Tasks

Participation programme live
  1. Check how Flight Club and the referral program work at docs.phoenix.trade.
  2. Set up a Solana wallet and connect it at phoenix.trade (email sign-up via Privy also works).
  3. Deposit USDC via the Solana network (currently the only accepted collateral on Phoenix).
  4. Trade or hold a position that day to qualify for Flight Club's daily 15,000 USDC split.
  5. Claim the previous day's reward from the Rewards Hub.
  6. Generate and share a referral link — referred trading volume also counts toward Flight Club rewards.
Join via referral

Events & campaigns

EventsPhoenix Trade Flight Club: 315,000 USDC Left, Still Time to Join2026-08-05EventsPhoenix Flight Club Guide: $420K USDC Over 28 Days2026-07-28

Funding & investors

Round
Series A
Lead
Paradigm
Investors
Paradigm · Electric Capital

Overview

Phoenix is a non-custodial perpetual futures DEX on Solana, built by Ellipsis Labs. It has raised about $44.3 million, including a Series A led by Paradigm. Its current "Flight Club" campaign distributes 15,000 USDC daily, and no token has launched yet.

Analysis

Phoenix has raised roughly $44.3 million, including a Paradigm-led Series A, giving its backers a reasonably strong pedigree. No token or points system has been announced yet.

According to DefiLlama, Phoenix Spot's (Solana) TVL is about $930,000, still a modest scale.

Two things are available to join right now: (1) the standing referral program, and (2) the time-boxed Flight Club campaign. Flight Club started July 27, 2026 and runs for 28 days, splitting 15,000 USDC daily among that day's participants; as of August 10, 2026, Day 15 concluded, with less than two weeks remaining.

CertiK lists a Phoenix project page, but audit scope and dates are unconfirmed. None of this guarantees a future airdrop — participation here is really about the USDC available today​.

Token & distribution status

Token
Not announced
Ticker
Not announced
TGE
Not announced
Allocation
Published

Allocation

  • Referral program (standing, start date unknown): USDC rewards for referrers; referred trading volume also counts toward Flight Club's daily payout. Runs until cumulative referred volume reaches $100 million.
  • Flight Club Day 1 (2026-07-27): 1,167 traders shared the pool.
  • Day 2 (07-28): 1,343 traders.
  • Day 3 (07-29): 1,297 traders.
  • Day 4 (07-30): 1,281 traders.
  • Day 5 (07-31): 1,225 traders.
  • Day 6 (08-01): 1,225 traders; claims opened 08-02.
  • Week 1 total (Days 1-7): 105,000 USDC paid to 2,234 traders.
  • Day 12 (08-07): 1,239 traders.
  • Day 13 (08-08): 1,253 traders.
  • Midpoint update (08-10): 210,000 USDC of the 420,000 USDC total remained.
  • Day 15 (08-10, announced 08-11): 15,000 USDC distributed to 1,326 traders; less than two weeks left.
  • The full program runs 28 days for 420,000 USDC total, expected to end around August 23-24, 2026.
  • The Frontier Traders equities bonus (an extra $25,000) ended on August 8, 2026.
  • No announcements exist regarding token distribution, snapshots, or claim deadlines.

AirdropAgent view

This is our analysis of public information, not an official programme rule.

Right now, prioritize trading and holding positions in Flight Club (started 2026-07-27, 28 days, 15,000 USDC daily), which has less than two weeks left.

The more participants there are each day, the thinner the per-person split, so avoid over-committing capital and remember to claim daily from the Rewards Hub.

Generating a referral link costs nothing and adds referred volume to your Flight Club daily reward calculation.

The Frontier Traders bonus ended on August 8, 2026, so it's no longer worth pursuing.

Security & risks

Verified security information

CertiK lists a Phoenix project page, but the audit scope, firm name and dates are not confirmed from public sources. No major hacks or exploits have been reported to date.

Key risks

  • Flight Club's daily 15,000 USDC pool is split among all that day's participants, so more participants means a smaller share each.
  • The program is time-limited to 28 days, expected to end around August 23-24, 2026.
  • The Frontier Traders equities bonus (extra $25,000) ended on August 8, 2026 and is no longer available.
  • Perpetual trading itself carries leverage and liquidation risk.
  • Phoenix is unavailable to users in the U.S. and sanctioned jurisdictions.
  • Audit status cannot be fully confirmed from public information.
  • No token or future airdrop has been announced, and none is guaranteed.

Recent moves on X

Only posts about joining or distribution, shown as posted. Click through for the original.

What's next

In December 2025, Phoenix evolved from Phoenix Legacy (a spot exchange) into on-chain perpetual trading as "Phoenix Perps." It also supports 24-hour trading of equities markets (AAPL, TSM, QCOM, ARM, ASML, etc.).

The Flight Club campaign is expected to end around August 23-24, 2026; no official announcement has been made about a subsequent season or a token launch.

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