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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We are thrilled to announce an exciting new chapter for Kwenta. In a strategic collaboration which marks a significant milestone in our journey, Kwenta has entered into a partnership with Framework, a powerful step towards realizing our vision for the future of decentralized derivatives trading.
Framework Ventures, known for its insightful investments and contributions to the blockchain and DeFi sectors, has received 8,000 KWENTA tokens. In return, KwentaDAO is proud to integrate 276,243.09 addition SNX tokens into our treasury. This exchange forms a strategic alignment of interests and a mutual commitment to the Synthetix ecosystem.
This partnership serves multiple purposes:
It diversifies KwentaDAO's holdings, enhancing our financial stability and resilience.
It deepens KwentaDAO's participation within the Synthetix community, ensuring we remain at the forefront of governance and innovation.
It establishes Framework as a key strategic partner and stakeholder in KwentaDAO, poised to contribute to our future growth.
The Kwenta Treasury's acquisition of SNX tokens is a move towards greater involvement in Synthetix governance and the broader ecosystem. By staking these tokens, we not only contribute to scaling the Synthetix network but also gain a voice in shaping its future.
Kwenta has already committed to building new and innovative derivatives using the Synthetix v3 system. As Synthetix v3 continues to be rolled out across new chains, new opportunities may emerge to use SNX tokens to bootstrap liquidity and further our contributions to the space.
Kwenta's Perps v2, built on the Optimism network, has set a new standard for decentralized trading. As a pivotal upgrade, Perps v2 brought more assets, deeper liquidity, and lower fees to onchain perps. Here's a snapshot of what we've accomplished:
Over $40 Billion in Volume: Taking its place as a leader in the space, Kwenta facilitated tens of billions in perps volume.
High Open Interest: Open interest frequently exceeds $100 million, reaching up to $200 million, underscoring organic demand for exposure. Kwenta users are real traders, not incentive farmers.
Key Features and UX Improvements:
Conditional Orders: Kwenta’s system enables stop and limit orders on Synthetix.
One-Click Trading: Reduces clicks and streamlines the trading experience.
Account Delegation: Take control of your funds and manage security your way with account delegation.
Premier Synthetix Integrator: Kwenta remains the most valuable integrator within the Synthetix ecosystem by a wide margin, generating the vast majority of fees for our partner.
Perps v2 established Kwenta as a key player in the decentralized derivatives space, and a valuable strategic partner. Building on this success, Kwenta is positioned to be a leader in both collaboration and innovation across DeFi.
The unveiling of Kwenta's v3 system is just around the corner. Currently in private testing on the Base mainnet, this comprehensive upgrade includes a suite of backend and frontend improvements. Public testing is expected to commence shortly, with more details to be released.
Key highlights of the v3 system include:
Native Cross Margin: A feature common on centralized exchanges, DeFi users can now more easily manage multiple positions backed by a single pool of collateral.
USDC Support: While v3 may offer additional collateral types in the future, v3 will launch with support for one of the most common and trusted stablecoins.
Social Login: Kwenta will continue to offer support for major web3 wallet providers, but expands its appeal to CEX users with a simple and intuitive account creation process secured by your Web2 identity.
Perps v3 also includes economics and governance improvements for the KwentaDAO:
Kwenta now recieves 20% of all fees paid to Synthetix, fostering mutual growth and success. For more details, readers are encouraged to visit SIP-346.
KIP-114, dedicates 100% of Kwenta's fees generated in v3 on Base to incentivize $KWENTA staking. More information can be found at KIP-114.
Perps v3 represents our first expansion beyond our foundational Optimism deploy, but won’t be the last stop on Kwenta’s journey. Additional partnership announcements will follow in the coming days.
Kwenta's mission is to become the most powerful platform for trading decentralized derivatives. By strengthening our ties with the Synthetix ecosystem and expanding our network through strategic partnerships, we are laying the foundation for a future where decentralized derivatives are accessible, efficient, and secure.
2024 marks an exciting evolution for Kwenta beyond being simply a perps frontend, and instead becoming a destination for onchain derivatives, and a builder of novel systems. We envision a world where DeFi can be used by anyone to gain exposure to any asset or strategy they can imagine.
As we embark on this exciting journey, now with Framework in our corner, we invite our community to join us in shaping the future. Stay tuned for more updates and thank you for your continued support.
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.
We are thrilled to announce an exciting new chapter for Kwenta. In a strategic collaboration which marks a significant milestone in our journey, Kwenta has entered into a partnership with Framework, a powerful step towards realizing our vision for the future of decentralized derivatives trading.
Framework Ventures, known for its insightful investments and contributions to the blockchain and DeFi sectors, has received 8,000 KWENTA tokens. In return, KwentaDAO is proud to integrate 276,243.09 addition SNX tokens into our treasury. This exchange forms a strategic alignment of interests and a mutual commitment to the Synthetix ecosystem.
This partnership serves multiple purposes:
It diversifies KwentaDAO's holdings, enhancing our financial stability and resilience.
It deepens KwentaDAO's participation within the Synthetix community, ensuring we remain at the forefront of governance and innovation.
It establishes Framework as a key strategic partner and stakeholder in KwentaDAO, poised to contribute to our future growth.
The Kwenta Treasury's acquisition of SNX tokens is a move towards greater involvement in Synthetix governance and the broader ecosystem. By staking these tokens, we not only contribute to scaling the Synthetix network but also gain a voice in shaping its future.
Kwenta has already committed to building new and innovative derivatives using the Synthetix v3 system. As Synthetix v3 continues to be rolled out across new chains, new opportunities may emerge to use SNX tokens to bootstrap liquidity and further our contributions to the space.
Kwenta's Perps v2, built on the Optimism network, has set a new standard for decentralized trading. As a pivotal upgrade, Perps v2 brought more assets, deeper liquidity, and lower fees to onchain perps. Here's a snapshot of what we've accomplished:
Over $40 Billion in Volume: Taking its place as a leader in the space, Kwenta facilitated tens of billions in perps volume.
High Open Interest: Open interest frequently exceeds $100 million, reaching up to $200 million, underscoring organic demand for exposure. Kwenta users are real traders, not incentive farmers.
Key Features and UX Improvements:
Conditional Orders: Kwenta’s system enables stop and limit orders on Synthetix.
One-Click Trading: Reduces clicks and streamlines the trading experience.
Account Delegation: Take control of your funds and manage security your way with account delegation.
Premier Synthetix Integrator: Kwenta remains the most valuable integrator within the Synthetix ecosystem by a wide margin, generating the vast majority of fees for our partner.
Perps v2 established Kwenta as a key player in the decentralized derivatives space, and a valuable strategic partner. Building on this success, Kwenta is positioned to be a leader in both collaboration and innovation across DeFi.
The unveiling of Kwenta's v3 system is just around the corner. Currently in private testing on the Base mainnet, this comprehensive upgrade includes a suite of backend and frontend improvements. Public testing is expected to commence shortly, with more details to be released.
Key highlights of the v3 system include:
Native Cross Margin: A feature common on centralized exchanges, DeFi users can now more easily manage multiple positions backed by a single pool of collateral.
USDC Support: While v3 may offer additional collateral types in the future, v3 will launch with support for one of the most common and trusted stablecoins.
Social Login: Kwenta will continue to offer support for major web3 wallet providers, but expands its appeal to CEX users with a simple and intuitive account creation process secured by your Web2 identity.
Perps v3 also includes economics and governance improvements for the KwentaDAO:
Kwenta now recieves 20% of all fees paid to Synthetix, fostering mutual growth and success. For more details, readers are encouraged to visit SIP-346.
KIP-114, dedicates 100% of Kwenta's fees generated in v3 on Base to incentivize $KWENTA staking. More information can be found at KIP-114.
Perps v3 represents our first expansion beyond our foundational Optimism deploy, but won’t be the last stop on Kwenta’s journey. Additional partnership announcements will follow in the coming days.
Kwenta's mission is to become the most powerful platform for trading decentralized derivatives. By strengthening our ties with the Synthetix ecosystem and expanding our network through strategic partnerships, we are laying the foundation for a future where decentralized derivatives are accessible, efficient, and secure.
2024 marks an exciting evolution for Kwenta beyond being simply a perps frontend, and instead becoming a destination for onchain derivatives, and a builder of novel systems. We envision a world where DeFi can be used by anyone to gain exposure to any asset or strategy they can imagine.
As we embark on this exciting journey, now with Framework in our corner, we invite our community to join us in shaping the future. Stay tuned for more updates and thank you for your continued support.
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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