On April 21st at 10 PM UTC in the Kwenta Discord, on the community stage the council will present the retro $KWENTA Launch Distribution details for Synth traders and $SNX stakers. Join the Kwenta community for the presentation of KIP-13. Kwenta has made exciting progress and is getting close to delivering on key milestones.
Synth traders
Traders active within the range of Jan 1st, 2020 to February 1st, 2022 are eligible for 5% of the initial KWENTA supply. The minimum trade requirements are at least 5 trades and $1000 in cumulative volume on L1, or at least 10 trades and $5000 in cumulative volume on L2.
SNX Stakers
SNX stakers, on both L1 and L2, active within the range of September 1st, 2021 to February 1st, 2022 are eligible to receive an allotment of 30% of the initial KWENTA supply.
Distributed based on these users' proportion of debt owned during that period (similar to the Aelin distribution) with a floor of 5 KWENTA per each staker.
The activity was determined by stakers who had at least 1 fee claim* during this time period
Debt ownership percentages below 1E-7% were culled from the distribution (approximate value of SNX staked below ~$100 at the time of writing)
All KWENTA received by stakers will go into a one-year vesting contract which can be vested at any time, however, an attached fee which will begin at 80% and deplete linearly to 0% after one year will be executed when vested which burns the percentage of tokens exposed to the remaining fee, enabling short term holders to exit while decreasing the total supply.
In the event that a Synthetix community member believes they were incorrectly excluded from the distribution, there will be an application form open for 1 month where disputes can be submitted.
Get a localized time and a reminder for this event at Kwenta Discord Event.
If you haven't already, join the Kwenta community on Discord.
To learn more about how you can acquire a DAO role as a developer, marketer, governance contributor, or professional trader, visit our Documentation.
To be the first to learn about new updates to Kwenta, follow us on Twitter.
To trade synthetic assets and soon futures, visit Kwenta.
On April 21st at 10 PM UTC in the Kwenta Discord, on the community stage the council will present the retro $KWENTA Launch Distribution details for Synth traders and $SNX stakers. Join the Kwenta community for the presentation of KIP-13. Kwenta has made exciting progress and is getting close to delivering on key milestones.
Synth traders
Traders active within the range of Jan 1st, 2020 to February 1st, 2022 are eligible for 5% of the initial KWENTA supply. The minimum trade requirements are at least 5 trades and $1000 in cumulative volume on L1, or at least 10 trades and $5000 in cumulative volume on L2.
SNX Stakers
SNX stakers, on both L1 and L2, active within the range of September 1st, 2021 to February 1st, 2022 are eligible to receive an allotment of 30% of the initial KWENTA supply.
Distributed based on these users' proportion of debt owned during that period (similar to the Aelin distribution) with a floor of 5 KWENTA per each staker.
The activity was determined by stakers who had at least 1 fee claim* during this time period
Debt ownership percentages below 1E-7% were culled from the distribution (approximate value of SNX staked below ~$100 at the time of writing)
All KWENTA received by stakers will go into a one-year vesting contract which can be vested at any time, however, an attached fee which will begin at 80% and deplete linearly to 0% after one year will be executed when vested which burns the percentage of tokens exposed to the remaining fee, enabling short term holders to exit while decreasing the total supply.
In the event that a Synthetix community member believes they were incorrectly excluded from the distribution, there will be an application form open for 1 month where disputes can be submitted.
Get a localized time and a reminder for this event at Kwenta Discord Event.
If you haven't already, join the Kwenta community on Discord.
To learn more about how you can acquire a DAO role as a developer, marketer, governance contributor, or professional trader, visit our Documentation.
To be the first to learn about new updates to Kwenta, follow us on Twitter.
To trade synthetic assets and soon futures, visit Kwenta.
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/
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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