Grand Cayman, Cayman Islands, July 26th, 2024,
Chainwire
Kwenta, the leading onchain perpetuals exchange on the
Optimism network, has partnered with Perennial to launch a new joint product and incentive
program on the Arbitrum network. This initiative, backed by a
substantial 1.9 million ARB grant, aims to attract new users and
liquidity providers to Arbitrum and spark renewed interest in
onchain perpetuals trading.
Kwenta and Perennial’s Expansion Strategy
Kwenta, known for being a UX layer for perps trading on Optimism
and Base, is expanding its reach to Arbitrum in a bid to build a
comprehensive marketplace for onchain perpetuals. This move is
facilitated by Perennial V2, an Arbitrum-native protocol designed
to be a hyper-efficient liquidity layer for derivatives trading.
The joint initiative is designed to revitalize the popular AMM
model for leveraged trading by providing traders with a powerful,
familiar interface to interact with smart contract liquidity.
Perennial’s vision is to create a single, global liquidity layer
where all markets, all chains, and all liquidity converge into one
decentralized nexus. By integrating Kwenta’s premier trading
interface with Perennial’s advanced perps infrastructure, users on
Arbitrum will benefit from an optimized trading experience. Trade
orders on selected Kwenta markets will be seamlessly routed through
Perennial, ensuring efficiency and reliability. This collaboration
combines Kwenta's top-tier trading platform with Perennial’s
hyper-efficient trading infrastructure, delivering the best
possible experience for traders.
Incentive Program Details
The newly launched incentive program focuses on two main
areas:
- Trading Rebates: Active traders will benefit from substantial
fee rebates, making it more cost-effective to trade on the
platform. This initiative is expected to drive trading volume and
retain users.
- Liquidity Boosting: Liquidity providers will receive incentives
to supply liquidity, ensuring deep and efficient
markets.
For more details on how to potentially earn rewards, users can
visit Kwenta's Rewards Blog
for trading rewards details, or visit Perennial’s Discord server for information about
rewards for providing liquidity.
Team Insights
Burt Rock, Marketing Lead at Kwenta, highlighted how
far onchain perps have come, stating, “We’ve seen a lot of new
perpetuals markets focused on improving the user experience, but
most are making huge sacrifices in terms of decentralization. We
want to show people you really can build decentralized apps which
are incredible to use, and even better than offchain
versions.”
Kevin Britz, CEO & Co-Founder at Perennial, added,
"Kwenta has been a market leader in the perp vertical, regularly
pushing over $100M in OI. We're excited to welcome them to our home
on Arbitrum and expand the number of teams leveraging Perennial
infrastructure. In a saturated perps landscape, combining our
protocol with Kwenta’s interface will lead to increased volume,
deeper liquidity, and a CEX-level user experience."
Future Outlook
The introduction of this incentive program represents a crucial
step in the evolution of Kwenta and Perennial. With Kwenta
concentrating on the UX and frontend aspects of trading and
Perennial focusing on providing a robust liquidity layer, the
collaboration is set to offer a decentralized trading experience
that is both highly efficient and user-friendly. This model of
specialization showcases how projects can synergize to deliver
superior services in the DeFi space. The combined expertise of
Kwenta and Perennial promises to elevate the standard of onchain
perpetuals trading, making it more accessible and appealing to a
wider audience.
For more information, users can visit Kwenta’s website and Perennial’s website. Users can also read Perennial’s launch
announcement for additional details.
About Kwenta and Perennial
Kwenta: As a leading
platform for derivatives trading, Kwenta has facilitated over $50
billion in volume on Optimism and Base. The platform is expanding
to Arbitrum to launch its perpetuals marketplace, a single app to
compare and trade on multiple onchain venues.
Perennial:
Perennial is a pioneering DeFi liquidity layer that offers
hyper-efficient infrastructure for a variety of trading
applications. Its modular and efficient design supports customized
markets, leveraging fast execution and capital efficiency to power
DeFi apps.
Contacts
Burt
Rock
Kwenta
burt@kwenta.io
Lucas
Terry
Perennial
lucas@perennial.finance