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/
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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Update: KIP-70 incentives have now ended. Non-stakers currently earn $OP rewards under the program described in this blog, but only stakers earn $KWENTA rewards. Please stay tuned to future adjustments and opportunities for non-stakers to earn rewards.
To be eligible for $KWENTA rewards, simply stake any amount of $KWENTA. This blog has been updated to reflect the latest calculations.
All traders who stake $KWENTA are eligible for a share of 5% of all inflationary rewards, which are earned by paying trading fees. All trades placed on https://www.kwenta.eth.limo or https://www.kwenta.io will qualify for rewards.
Traders can increase their rewards two ways:
Pay additional fees by trading larger volume, or on markets with higher fees
Stake $KWENTA, or increase the amount of $KWENTA staked
Using both methods in tandem will allow a trader to scale their trading rewards allocation.
Trading rewards are calculated and become claimable at the end of each epoch. The epoch countdown clock resets each week when rewards become claimable. After each epoch ends, you can continue trading to earn rewards for the next epoch.
To see your current qualifying fees paid during the epoch, navigate to the “Trading Rewards” section of the Staking UI.
Total rewards are decided at the end of each epoch based on a traders rewards score. The rewards score increases as more $KWENTA is staked, and as more trading fees are paid, according to the formula below:
Once the epoch is complete, trading rewards will appear as claimable on the left side of the trading rewards page. Rewards do not expire, but must be claimed in order to stake. All rewards are claimed as escrowed rewards and follow the same unlocking schedule. Remember to stake your rewards after you claim!
Escrowed $KWENTA follows a 1 year linear unlock schedule. Escrowed tokens may be claimed early by burning a portion of rewards. The penalty decreases linearly over the 1 year vesting period.
Staking additional $KWENTA will increase your share of rewards. Conveniently, the best liquidity for the $KWENTA token is available right on Kwenta under Exchange.
Aside from purchasing liquid tokens from an exchange, you may be able to acquire either escrowed or liquid tokens from onboarding incentives and promotions, compensated DAO roles, bounties, or similar opportunities. Once you have your tokens, it’s time to stake.
Since there is currently no cool down period for unstaking and no market exposure or additional risk from staking your tokens, it’s best to keep all your tokens staked unless you’re preparing to sell or transfer your $KWENTA.
Under the current system, you must stake some amount of $KWENTA to earn rewards from trading. Both liquid and escrowed $KWENTA will earn rewards at the same rate, but must be staked separately.
To stake any unstaked $KWENTA, first locate your tokens in the Staking UI.
If you are staking rewards earned from trading, be sure to find them under the Escrow tab
Although it’s possible to fill in a custom amount to stake, most users will want to stake their entire amount. To fill in the entire amount, simply click on the balance, and hit “Stake”.
Congratulations! You’re now earning escrowed $KWENTA tokens from staking rewards. Please be aware that all staking and trading rewards follow the same escrow schedule, which will be covered later in this guide. For more detailed information about the staking page, see the Kwenta documentation.
Information in this blog will help you to maximize your $KWENTA rewards, but we’re always happy to help if you need additional information. For more info, come visit us in Discord.
Please be aware our incentive programs may be discontinued or changed without warning. For the most up-to-date information, please follow live announcements on Discord and Twitter.
Happy trading!
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.
Update: KIP-70 incentives have now ended. Non-stakers currently earn $OP rewards under the program described in this blog, but only stakers earn $KWENTA rewards. Please stay tuned to future adjustments and opportunities for non-stakers to earn rewards.
To be eligible for $KWENTA rewards, simply stake any amount of $KWENTA. This blog has been updated to reflect the latest calculations.
All traders who stake $KWENTA are eligible for a share of 5% of all inflationary rewards, which are earned by paying trading fees. All trades placed on https://www.kwenta.eth.limo or https://www.kwenta.io will qualify for rewards.
Traders can increase their rewards two ways:
Pay additional fees by trading larger volume, or on markets with higher fees
Stake $KWENTA, or increase the amount of $KWENTA staked
Using both methods in tandem will allow a trader to scale their trading rewards allocation.
Trading rewards are calculated and become claimable at the end of each epoch. The epoch countdown clock resets each week when rewards become claimable. After each epoch ends, you can continue trading to earn rewards for the next epoch.
To see your current qualifying fees paid during the epoch, navigate to the “Trading Rewards” section of the Staking UI.
Total rewards are decided at the end of each epoch based on a traders rewards score. The rewards score increases as more $KWENTA is staked, and as more trading fees are paid, according to the formula below:
Once the epoch is complete, trading rewards will appear as claimable on the left side of the trading rewards page. Rewards do not expire, but must be claimed in order to stake. All rewards are claimed as escrowed rewards and follow the same unlocking schedule. Remember to stake your rewards after you claim!
Escrowed $KWENTA follows a 1 year linear unlock schedule. Escrowed tokens may be claimed early by burning a portion of rewards. The penalty decreases linearly over the 1 year vesting period.
Staking additional $KWENTA will increase your share of rewards. Conveniently, the best liquidity for the $KWENTA token is available right on Kwenta under Exchange.
Aside from purchasing liquid tokens from an exchange, you may be able to acquire either escrowed or liquid tokens from onboarding incentives and promotions, compensated DAO roles, bounties, or similar opportunities. Once you have your tokens, it’s time to stake.
Since there is currently no cool down period for unstaking and no market exposure or additional risk from staking your tokens, it’s best to keep all your tokens staked unless you’re preparing to sell or transfer your $KWENTA.
Under the current system, you must stake some amount of $KWENTA to earn rewards from trading. Both liquid and escrowed $KWENTA will earn rewards at the same rate, but must be staked separately.
To stake any unstaked $KWENTA, first locate your tokens in the Staking UI.
If you are staking rewards earned from trading, be sure to find them under the Escrow tab
Although it’s possible to fill in a custom amount to stake, most users will want to stake their entire amount. To fill in the entire amount, simply click on the balance, and hit “Stake”.
Congratulations! You’re now earning escrowed $KWENTA tokens from staking rewards. Please be aware that all staking and trading rewards follow the same escrow schedule, which will be covered later in this guide. For more detailed information about the staking page, see the Kwenta documentation.
Information in this blog will help you to maximize your $KWENTA rewards, but we’re always happy to help if you need additional information. For more info, come visit us in Discord.
Please be aware our incentive programs may be discontinued or changed without warning. For the most up-to-date information, please follow live announcements on Discord and Twitter.
Happy trading!
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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