Kwenta has been acquired by Synthetix. Please follow along at https://blog.synthetix.io/ Trading is live at https://exchange.synthetix.io/
Synthetix ExchangeThe Kwenta Token Migration
The swap interface for migrating your KWENTA tokens to SNX is now live. This migration unlocks opportunities to participate in the Synthetix system and DAO, where your SNX tokens can be staked and used to help govern the protocol. Follow the simple steps below to ensure a smooth transition and start vesting your tokens today. For more details about the unification with Synthetix, check out this blog.Key Details About Token VestingTokens began vesting on November 12th, even if you haven’t depo...
Synthetix ExchangeKwenta x Synthetix: Next Steps
Following the unification announcement, we’re now entering the next phase of the transition. This stage focuses on streamlining token migration, refining incentives, and ensuring traders experience a smooth shift as Kwenta evolves into Synthetix Exchange.Social Media UpdatesKwenta’s community spaces are evolving to support this transition while ensuring traders and community members continue to have access to resources and support.Discord ChangesWhile most channels will be archived, key chann...
Synthetix ExchangeKwenta x Synthetix: A Unified Future
Today marks a monumental step forward for both Kwenta and Synthetix. Following the approval of KIP-138 by the Kwenta community and SIP-411 by the Synthetix community, the two projects will now reunite under a single mission: to build the most powerful decentralized derivatives platform in DeFi.Why Was This Decision Made?This unification brings Kwenta full circle. Originally launched in 2021 as an independent protocol through SIP-179, Kwenta was designed to be a dedicated front end for Synthet...
Synthetix ExchangeThe Kwenta Token Migration
The swap interface for migrating your KWENTA tokens to SNX is now live. This migration unlocks opportunities to participate in the Synthetix system and DAO, where your SNX tokens can be staked and used to help govern the protocol. Follow the simple steps below to ensure a smooth transition and start vesting your tokens today. For more details about the unification with Synthetix, check out this blog.Key Details About Token VestingTokens began vesting on November 12th, even if you haven’t depo...
Synthetix ExchangeKwenta x Synthetix: Next Steps
Following the unification announcement, we’re now entering the next phase of the transition. This stage focuses on streamlining token migration, refining incentives, and ensuring traders experience a smooth shift as Kwenta evolves into Synthetix Exchange.Social Media UpdatesKwenta’s community spaces are evolving to support this transition while ensuring traders and community members continue to have access to resources and support.Discord ChangesWhile most channels will be archived, key chann...
Synthetix ExchangeKwenta x Synthetix: A Unified Future
Today marks a monumental step forward for both Kwenta and Synthetix. Following the approval of KIP-138 by the Kwenta community and SIP-411 by the Synthetix community, the two projects will now reunite under a single mission: to build the most powerful decentralized derivatives platform in DeFi.Why Was This Decision Made?This unification brings Kwenta full circle. Originally launched in 2021 as an independent protocol through SIP-179, Kwenta was designed to be a dedicated front end for Synthet...
Kwenta has been acquired by Synthetix. Please follow along at https://blog.synthetix.io/ Trading is live at https://exchange.synthetix.io/
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Kwenta, in partnership with our oracle providers at Pyth and Chainlink, is once again pushing the limits of on-chain derivatives. With today’s release of 8 new markets, Kwenta now includes 50 ways to go long or short on majors, altcoins, memecoins, metals, forex, and more. At the end of this blog, you can find full details and new market parameters for the assets listed today.
Trading for ETH/BTC (ratio), XMR, MAV, ETC , COMP, YFI, MKR, and RPL is now live!
One standout in our rapidly expanding list of assets is an oracle-powered, synthetic perpetual, allowing traders to gain exposure to the ETH/BTC ratio. How does this work, and what do you need to know as a trader? Let’s find out
The ETH/BTC ratio perp is traded using sUSD like other markets on Kwenta. As opposed to quanto futures, this means traders maintain exposure only to the relative value of ETH/BTC, and not to the asset prices or the broader market. There is no BTC required to trade.
An ETH/BTC ratio of 0.10000 would correlate with a $0.10000 sUSD unit price for perps. This could correlate with prices of $2,000/$20,000, respectively, or prices of $4,000/$40,000 in sUSD, with the exact same ratio. Even as the crypto markets rise and fall, the ratio will only change if these prices change at different rates.
Understanding how a perp price is derived from the ETH/BTC ratio makes calculating PnL easy. The ETH/BTC example was assumed to be 0.10000 in the previous example. If the ratio then rises to 0.11000, this would equate to an increase of 10%.
To find your PnL, simply multiply the relative change with your leverage, accounting for fees.
While ETH/BTC may be one of the most unique new assets at Kwenta, more DeFi bluechips and OG cryptocurrencies are making their way to Kwenta. Express your thesis on privacy coins and ETH killers, put on hedges, or find arbitrage opportunities on any of our growing list of assets.
With 50 assets and counting, ongoing $OP rewards, and our convenient Smart Margin management system, the time has never been better to start trading on an on-chain, decentralized derivatives exchange.
https://kwenta.eth.limo/market/?accountType=cross_margin&asset=sETH
Underlying Asset: ETH/BTC
Open Interest (OI) Cap: 50,000,000
Maker/Taker Fees: 1/5 bps
Skew Skale: 1,700,000,000
LiquidationBufferRatio: 75 bps
Underlying Asset: ETC
Open Interest (OI) Cap: 55,000
Maker/Taker Fees: 2/8 bps
Skew Skale: 4,000,000
LiquidationBufferRatio: 100 bps
Underlying Asset: COMP
Open Interest (OI) Cap: 15,000
Maker/Taker Fees: 2/10 bps
Skew Skale: 860,000
LiquidationBufferRatio: 150 bps
Underlying Asset: MKR
Open Interest (OI) Cap: 750
Maker/Taker Fees: 2/10 bps
Skew Skale: 60,000
LiquidationBufferRatio: 150 bps
Underlying Asset: XMR
Open Interest (OI) Cap: 5,000
Maker/Taker Fees: 2/10 bps
Skew Skale: 255,000
LiquidationBufferRatio: 150 bps
Underlying Asset: YFI
Open Interest (OI) Cap: 75
Maker/Taker Fees: 2/10 bps
Skew Skale: 2,500
LiquidationBufferRatio: 150 bps
Underlying Asset: MAV
Open Interest (OI) Cap: 500,000
Maker/Taker Fees: 2/10 bps
Skew Skale: 21,000,000
LiquidationBufferRatio: 150 bps
Underlying Asset: RPL
Open Interest (OI) Cap: 3000
Maker/Taker Fees: 2/15 bps
Skew Skale: 17,500
LiquidationBufferRatio: 120 bps
offchainDelayedOrderMinAge: 2 seconds
offchainDelayedOrderMaxAge: 60 seconds
maxFundingVelocity: 27
maxLeverage: 27.5
offchainPriceDivergence: 2.5%
maxLiquidationDelta: maker+taker offchain fees
maxPD: maxLiquidationDelta * 2
dynamicFeeRounds: 1
maxDynamicFeeRate: 10%
Liquidation Price: The Chainlink oracle prices
The Funding Rate applies to open positions on Perpetual Futures. A positive rate means longs pay shorts, and a negative rate means shorts pay longs.
Parameters for these new markets may be adjusted as necessary through the Synthetix governance process. Our goal is to optimize these markets and provide the best trading experience possible.
Cryptocurrency trading is subject to high market risk. Please make your trades cautiously.
If you haven't already, join the Kwenta community on Discord.
To be the first to learn about new updates to Kwenta, follow us on Twitter.
To trade synthetic assets and futures, visit Kwenta.
Kwenta, in partnership with our oracle providers at Pyth and Chainlink, is once again pushing the limits of on-chain derivatives. With today’s release of 8 new markets, Kwenta now includes 50 ways to go long or short on majors, altcoins, memecoins, metals, forex, and more. At the end of this blog, you can find full details and new market parameters for the assets listed today.
Trading for ETH/BTC (ratio), XMR, MAV, ETC , COMP, YFI, MKR, and RPL is now live!
One standout in our rapidly expanding list of assets is an oracle-powered, synthetic perpetual, allowing traders to gain exposure to the ETH/BTC ratio. How does this work, and what do you need to know as a trader? Let’s find out
The ETH/BTC ratio perp is traded using sUSD like other markets on Kwenta. As opposed to quanto futures, this means traders maintain exposure only to the relative value of ETH/BTC, and not to the asset prices or the broader market. There is no BTC required to trade.
An ETH/BTC ratio of 0.10000 would correlate with a $0.10000 sUSD unit price for perps. This could correlate with prices of $2,000/$20,000, respectively, or prices of $4,000/$40,000 in sUSD, with the exact same ratio. Even as the crypto markets rise and fall, the ratio will only change if these prices change at different rates.
Understanding how a perp price is derived from the ETH/BTC ratio makes calculating PnL easy. The ETH/BTC example was assumed to be 0.10000 in the previous example. If the ratio then rises to 0.11000, this would equate to an increase of 10%.
To find your PnL, simply multiply the relative change with your leverage, accounting for fees.
While ETH/BTC may be one of the most unique new assets at Kwenta, more DeFi bluechips and OG cryptocurrencies are making their way to Kwenta. Express your thesis on privacy coins and ETH killers, put on hedges, or find arbitrage opportunities on any of our growing list of assets.
With 50 assets and counting, ongoing $OP rewards, and our convenient Smart Margin management system, the time has never been better to start trading on an on-chain, decentralized derivatives exchange.
https://kwenta.eth.limo/market/?accountType=cross_margin&asset=sETH
Underlying Asset: ETH/BTC
Open Interest (OI) Cap: 50,000,000
Maker/Taker Fees: 1/5 bps
Skew Skale: 1,700,000,000
LiquidationBufferRatio: 75 bps
Underlying Asset: ETC
Open Interest (OI) Cap: 55,000
Maker/Taker Fees: 2/8 bps
Skew Skale: 4,000,000
LiquidationBufferRatio: 100 bps
Underlying Asset: COMP
Open Interest (OI) Cap: 15,000
Maker/Taker Fees: 2/10 bps
Skew Skale: 860,000
LiquidationBufferRatio: 150 bps
Underlying Asset: MKR
Open Interest (OI) Cap: 750
Maker/Taker Fees: 2/10 bps
Skew Skale: 60,000
LiquidationBufferRatio: 150 bps
Underlying Asset: XMR
Open Interest (OI) Cap: 5,000
Maker/Taker Fees: 2/10 bps
Skew Skale: 255,000
LiquidationBufferRatio: 150 bps
Underlying Asset: YFI
Open Interest (OI) Cap: 75
Maker/Taker Fees: 2/10 bps
Skew Skale: 2,500
LiquidationBufferRatio: 150 bps
Underlying Asset: MAV
Open Interest (OI) Cap: 500,000
Maker/Taker Fees: 2/10 bps
Skew Skale: 21,000,000
LiquidationBufferRatio: 150 bps
Underlying Asset: RPL
Open Interest (OI) Cap: 3000
Maker/Taker Fees: 2/15 bps
Skew Skale: 17,500
LiquidationBufferRatio: 120 bps
offchainDelayedOrderMinAge: 2 seconds
offchainDelayedOrderMaxAge: 60 seconds
maxFundingVelocity: 27
maxLeverage: 27.5
offchainPriceDivergence: 2.5%
maxLiquidationDelta: maker+taker offchain fees
maxPD: maxLiquidationDelta * 2
dynamicFeeRounds: 1
maxDynamicFeeRate: 10%
Liquidation Price: The Chainlink oracle prices
The Funding Rate applies to open positions on Perpetual Futures. A positive rate means longs pay shorts, and a negative rate means shorts pay longs.
Parameters for these new markets may be adjusted as necessary through the Synthetix governance process. Our goal is to optimize these markets and provide the best trading experience possible.
Cryptocurrency trading is subject to high market risk. Please make your trades cautiously.
If you haven't already, join the Kwenta community on Discord.
To be the first to learn about new updates to Kwenta, follow us on Twitter.
To trade synthetic assets and futures, visit Kwenta.
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