
The 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...

Kwenta 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...

Kwenta 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/



The 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...

Kwenta 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...

Kwenta 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/
Share Dialog
Share Dialog

Subscribe to Synthetix Exchange

Subscribe to Synthetix Exchange
>1K subscribers
>1K subscribers
Important Updates You Need to Know. This blog breaks down the forthcoming migration, highlighting its timeline, essential steps, and pertinent updates.
Tentative Start Date: Migration is scheduled to be available on September 21st.
Once the migration begins (Sept 21st) all rewards will be directed toward v2 stakers. Stakers in v1 will not earn rewards until they migrate.
During the migration (Sept 21st), stakers will need to complete a suite of transactions to migrate their stake from v1 to v2 within the UI.
Claim: Claim any remaining unclaimed v1 Rewards
Register: Register your escrow entries to ensure they are migrated to v2 after vesting.
Vest: Stakers vest their tokens to pull them out of the old staking v1 contract.
Please note:* no early vesting penalty will apply for stakers who complete all steps in the UI. You must register escrow entries and complete migration to avoid penalties.*
Migrate: Vested tokens from v1 are sent to the v2 contract, and registered escrow entries are recreated in the v2 contract. This is the final, crucial step for a successful migration.
We ask that no one attempt a migration through Etherscan. To ensure a successful migration, please complete the steps through the Kwenta UI.
Once beginning the migration process, users must complete the migration as soon as possible. To ensure a successful migration, please take note of the following:
After completing the register step (step 2), users have a two-week window to finalize the migration process.
Stakers who do not complete the migration process within the two-week window will be unable to migrate and will forfeit an early vesting penalty. Ensure you take timely actions to avoid such losses.
There's a shift in the architectural framework based on feedback from auditors. Previously, we thought to use a EarlyVestFeeDistributor contract for disbursing early vest fees. However, that has changed:
Direct Distribution: Early Vest Rewards will no longer pass through intermediaries. They will now be sent directly to our staking contract.
Simplified User Interface: With this new method, users do not need to engage with a separate claim UI.
Variable APY: The Annual Percentage Yield (APY) for staking will not remain constant. It will alter every week, contingent on the amount vested in the preceding week. It's worth noting that each week is viewed as an epoch, with a new cycle commencing every Thursday when fresh rewards are minted.
This change hopes to enhance the user experience, making it more streamlined & passive.
With V2 staking and implementing early vest fee distribution, an intermediary contract stakingRewardsNotifier is introduced. This contract retains all early vest fees per epoch. Once stakingRewardsNotifier obtains weekly inflation, it distributes the minted inflation & collected early vest fees to the stakingRewards contract. Consequently, stakers earn additional tokens in the subsequent epoch linearly, termed as “rewards.”

Staking v2 is an essential upgrade that enables highly requested features such as escrow migration and the distribution of early vest fees to stakers. Migration to the new Staking v2 contracts also brings several backend improvements, including better on-chain data and upgradability, ensuring future feature upgrades are able to utilize more flexible and robust infrastructure.
Still have questions? Come visit us in discord for clarification on this process, or how Staking v2 may impact you. Although Staking v2 migration is not yet available, we’ve decided to communicate the process early to allow for feedback or additional questions, and we will update this blog or make additional announcements based on community feedback.
Happy Staking! (v2)
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.
Important Updates You Need to Know. This blog breaks down the forthcoming migration, highlighting its timeline, essential steps, and pertinent updates.
Tentative Start Date: Migration is scheduled to be available on September 21st.
Once the migration begins (Sept 21st) all rewards will be directed toward v2 stakers. Stakers in v1 will not earn rewards until they migrate.
During the migration (Sept 21st), stakers will need to complete a suite of transactions to migrate their stake from v1 to v2 within the UI.
Claim: Claim any remaining unclaimed v1 Rewards
Register: Register your escrow entries to ensure they are migrated to v2 after vesting.
Vest: Stakers vest their tokens to pull them out of the old staking v1 contract.
Please note:* no early vesting penalty will apply for stakers who complete all steps in the UI. You must register escrow entries and complete migration to avoid penalties.*
Migrate: Vested tokens from v1 are sent to the v2 contract, and registered escrow entries are recreated in the v2 contract. This is the final, crucial step for a successful migration.
We ask that no one attempt a migration through Etherscan. To ensure a successful migration, please complete the steps through the Kwenta UI.
Once beginning the migration process, users must complete the migration as soon as possible. To ensure a successful migration, please take note of the following:
After completing the register step (step 2), users have a two-week window to finalize the migration process.
Stakers who do not complete the migration process within the two-week window will be unable to migrate and will forfeit an early vesting penalty. Ensure you take timely actions to avoid such losses.
There's a shift in the architectural framework based on feedback from auditors. Previously, we thought to use a EarlyVestFeeDistributor contract for disbursing early vest fees. However, that has changed:
Direct Distribution: Early Vest Rewards will no longer pass through intermediaries. They will now be sent directly to our staking contract.
Simplified User Interface: With this new method, users do not need to engage with a separate claim UI.
Variable APY: The Annual Percentage Yield (APY) for staking will not remain constant. It will alter every week, contingent on the amount vested in the preceding week. It's worth noting that each week is viewed as an epoch, with a new cycle commencing every Thursday when fresh rewards are minted.
This change hopes to enhance the user experience, making it more streamlined & passive.
With V2 staking and implementing early vest fee distribution, an intermediary contract stakingRewardsNotifier is introduced. This contract retains all early vest fees per epoch. Once stakingRewardsNotifier obtains weekly inflation, it distributes the minted inflation & collected early vest fees to the stakingRewards contract. Consequently, stakers earn additional tokens in the subsequent epoch linearly, termed as “rewards.”

Staking v2 is an essential upgrade that enables highly requested features such as escrow migration and the distribution of early vest fees to stakers. Migration to the new Staking v2 contracts also brings several backend improvements, including better on-chain data and upgradability, ensuring future feature upgrades are able to utilize more flexible and robust infrastructure.
Still have questions? Come visit us in discord for clarification on this process, or how Staking v2 may impact you. Although Staking v2 migration is not yet available, we’ve decided to communicate the process early to allow for feedback or additional questions, and we will update this blog or make additional announcements based on community feedback.
Happy Staking! (v2)
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.
No activity yet