Grand Cayman, Cayman Islands, July 26, 2024, Chainwire
Kwenta, the leading on-chain perpetual exchange on the Optimism network, has partnered with Perennial to launch a recent joint product and incentive program on the Arbitrum network. This initiative, supported by a significant $1.9 million grant from ARB, aims to attract recent users and liquidity providers to Arbitrum and generate renewed interest in on-chain perpetual trading.
Kwenty and Perennial Expansion Strategy
Kwenta, known as the UX layer for perpetual trading on Optimism and Base, is expanding its reach on Arbitrum to build a comprehensive on-chain perpetuals marketplace. The move is facilitated by Perennial V2, Arbitrum’s native protocol designed as a hyper-efficient liquidity layer for derivatives trading. The joint initiative aims to revitalize the popular AMM model for leveraged trading by providing traders with a powerful, familiar interface for interacting with shrewd 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 core trading interface with Perennial’s advanced perps infrastructure, Arbitrum users will benefit from an optimized trading experience. Trade orders on select Kwenta markets will be seamlessly routed through Perennial, ensuring efficiency and reliability. This partnership combines Kwenta’s top-tier trading platform with Perennial’s hyper-efficient trading infrastructure, providing the best possible experience for traders.
Details of the motivational program
The newly launched incentive program focuses on two main areas:
- Trading Rebates: Active traders will benefit from significant fee discounts, making trading on the platform more profitable. This initiative is expected to boost trading volume and user retention.
- Enhancing liquidity: Liquidity providers will be incentivized to provide liquidity, ensuring deep and competent markets.
For more information on potentially earning rewards, users can visit the Kwenty rewards blog for details on reward trading, or visit the Perennial Discord server for information on liquidity provision rewards.
Team observations
Burt Rock, Marketing Lead at Kwenta, highlighted how far onchain perps have come, stating, “We’ve seen a lot of new perpetual marketplaces focused on improving the user experience, but most of them make huge sacrifices in terms of decentralization. We want to show people that you can actually create decentralized applications that are amazing to use, and even better than the offchain versions.”
Kevin Britz, CEO and Co-Founder of Perennial, added: “Kwenta is a market leader in the perps vertical, regularly raising over $100M in OI. We are excited to welcome them to our home on Arbitrum and expand the number of teams utilizing Perennial’s 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 perspectives
The introduction of this incentive program represents a key step in the evolution of Kwenta and Perennial. With Kwenta focusing on UX and front-end aspects of trading and Perennial focusing on providing a solid liquidity layer, the collaboration aims to offer a decentralized trading experience that is both highly competent and user-friendly. This specialization model demonstrates how the projects can work together to deliver excellent services in the DeFi space. The combined expertise of Kwenta and Perennial promises to raise the standard of on-chain perpetual trading, making it more accessible and attractive to a wider audience.
For more information, users can visit the Kwenta website and the Perennial website. Users can also read the Perennial launch announcement for additional details.
About Kwent and Perennial
Account: As a leading derivatives trading platform, Kwenta has facilitated over $50 billion in trading volume on Optimism and Base. The platform is expanding to Arbitrum to launch its perpetuals market, a single application for comparing and trading across multiple on-chain platforms.
Perennial: Perennial is a pioneering DeFi liquidity layer that offers hyper-efficient infrastructure for a variety of trading applications. Its modular and competent design supports customized markets, leveraging brisk execution and capital efficiency to power DeFi applications.
CommunicationBurt RockAccountburt@kwenta.ioLucas TerryPerenniallucas@perennial.finance
