Before we dive into the new features of Synthetix Exchange, here’s how you can stay involved and updated with all things Synthetix:

Where to Stay Involved

🔶 Subscribe to the Synthetix Blog: Get email updates and in-depth coverage of Synthetix Exchange and the broader Synthetix ecosystem. Stay informed about new releases, governance updates, and all things DeFi.

🔶 Join the Synthetix Discord: With the Kwenta Discord winding down, the Synthetix Discord is your go-to hub for support, governance discussions, product feedback, and lively trading conversations.

🔶 Follow the Synthetix Exchange Twitter: Kwenta’s Twitter account has been rebranded and will feature trading-focused updates. If you were already following Kwenta, you’re all set! If not, now’s the perfect time to join the conversation.

🔶 Join the Synthetix Trading Telegram: Formerly the Kwenta Telegram, traders can talk charts, discuss strategies, and keep up with exchange updates.

We encourage you to follow any or all of these platforms to stay connected with the project and community.

How to Exchange Your KWENTA Tokens

The KWENTA <> SNX swap interface is now live! KWENTA holders and stakers can migrate to the unified Synthetix ecosystem by unstaking your KWENTA, and completing the swap on the swap interface. For detailed instructions and the full terms of the swap, check out our token migration blog.

Introducing the Upgraded Synthetix Exchange

The Synthetix Exchange is live with a fresh look and upgraded experience, particularly on the Base network. If you have open positions, they are fully accessible on the newly branded platform.

What’s New:

• Base Multicollateral: In addition to Optimism and Arbitrum integrations, Base now supports cbETH, wstETH, cbBTC, and ETH as collateral.

• This powerful feature enables custom payoffs, advanced trading strategies, and the ability to trade while earning staking yield.

Read more about the new features in the Synthetix Blog.

Thanks for Being Part of the Journey

While the Kwenta name and logo may retire, the community and trading experience live on in the Synthetix Exchange. With a unified team, we’re more focused than ever on delivering the best onchain perpetuals trading experience.

Here’s to the next chapter. See you on the other side! 🥂

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 Vesting

• Tokens began vesting on November 12th, even if you haven’t deposited yet.

• Vesting occurs on a 3-month cliff, followed by a 9-month linear unlock.

• On February 12th, tokens begin to unlock.

• 9 months later, all tokens will be fully unlocked.

If you deposit your KWENTA tokens at any time, they will unlock according to this schedule. For example:

• If you deposit on July 1st, about half of your tokens will already be unlocked.

• If you deposit after the 9-month period, all tokens will be unlocked immediately.

We encourage everyone to deposit their tokens as soon as possible to ensure a smooth and complete transition.

How to Migrate Your KWENTA to SNX

Follow these steps to migrate your KWENTA tokens.

Step 1: Unstake Your KWENTA

1. Go to the Staking tab on Staking.

2. Unstake your liquid KWENTA. (Escrowed KWENTA will automatically unstake as it vests.)

Step 2: Vest All Escrowed KWENTA

1. Select the Escrow tab on Staking.

2. Check the box above your escrow entries to select all escrow entries.

3. Select Vest.

4. There is no fee for vesting, and your KWENTA will now be in your wallet as liquid tokens.

Step 3: Deposit Your KWENTA

1. Visit the KWENTA Migration Site.

2. Select Deposit to deposit all the KWENTA tokens in your wallet.

Step 4: You’re Done!

Your SNX tokens will vest on the schedule mentioned earlier. Simply return to the migration site to claim your SNX tokens as they vest.

Join the Synthetix Community

• Discord: Synthetix Discord

• Twitter: Synthetix Exchange Twitter | Synthetix Twitter

• Trade Perps: Synthetix Exchange

Social Media Updates

Kwenta’s community spaces are evolving to support this transition while ensuring traders and community members continue to have access to resources and support.

Discord Changes

While most channels will be archived, key channels in the Kwenta Discord will remain open during the transition. These channels will allow the community to interact for a grace period during the transition while we complete our merge with Synthetix:

• #💬・general: For questions about Kwenta, Synthetix, or the transition.

• #❓・help-desk: For product troubleshooting and inquiries.

• #🎟️・tickets: For private triage requests with core contributors. Please note a new support-tickets system is now open in Synthetix discord, which we encourage traders to begin using ASAP.

If you haven’t already, join the Synthetix Discord to participate in the community and ensure you continue to receive news and updates about our perps exchange. Here, you’ll find:

• **#**🧲-liquidation-alley: A casual space for Kwenta expats to talk trading.

• #kwenta-acquisition: A dedicated channel for questions about the transition or token migration.

• #🎟️-create-a-ticket: The new support ticketing system at Synthetix.

Security Reminder: Kwenta/Synthetix CCs will never DM you first. Support is only given through the ticketing system in the Kwenta or Synthetix discord, and never in an external discord or website. Always interact through Kwenta.io or its subdomains. Avoid clicking suspicious links or sharing sensitive information like seed phrases.

Twitter and Other Socials

Kwenta’s social media accounts will stay active for perps-focused updates and announcements. A rebrand to Synthetix Exchange is in progress. For updates across the broader Synthetix ecosystem, follow Synthetix on Twitter.

Product Updates

Kwenta’s Synthetix-based trading tools and integrations remain fully operational, with some adjustments during the transition.

Synthetix Integrations

• No Trading Disruption: All trading tools, swaps, and quality-of-life features will remain accessible and continue to receive updates.

• Fee Reduction: As of November 15th, additive fees on Optimism have been removed, lowering net fees across all markets by 1bp.

Perennial Integration

• Support for Perennial will end on November 28th, 2024. Users can manage positions directly at Perennial Finance with no disruptions.

Rebranding

Kwenta’s frontend is transitioning to Synthetix Exchange branding. This process is ongoing and may take several weeks before the first updates are made, but trading will remain uninterrupted.

Incentives and Rewards

Kwenta’s rewards programs are being re-evaluated as part of the transition. All programs are being replaced or retired shortly, though details are still being decided. Details on these incentives programs will be shared as soon as they are available.

• Kwenta Points Program: Points will be paused soon. The Synthetix team is working on the final details for the close-out of the Kwenta points program and replacement with new incentives.

• VIP Program: Our VIP program remains active, but is expected to change in the coming weeks. Please stay tuned for future updates on the VIP program and a shift from v2, to v3 focused incentives.

• Referral Program: Our legacy referral program remains active, but core contributors are working to replace this program with a new referral scheme which features easier onboarding and integration with v3 across multiple chains.

Token Migration Timeline

The migration from KWENTA to SNX is central to this transition. As of the release of this blog on November 20th, 2024, the first 2 steps are complete and you may vest your escrow with no penalty. Here’s the full timeline:

• November 15th, 2024: (completed)

  • KWENTA inflation halted.

  • New staking entries paused.

  • Existing staked KWENTA stopped earning rewards.

• November 20th, 2024: (completed)

  • Escrowed KWENTA can be released penalty-free with 0% early vesting fees.

• Early December, 2024: (recently updated)

  • The KWENTA<>SNX swap contract goes live. Tokenholders can exchange KWENTA for locked SNX.

• February 15th, 2025:

  • SNX begins unlocking linearly after the 3-month lock.

All SNX unlocks follow the same schedule, regardless of when tokens are swapped. Complete the process anytime before February 15th, 2025.

Looking Forward Together

Kwenta’s integration into Synthetix marks the start of an exciting new chapter. By uniting governance, tokenomics, and frontend development under Synthetix, we’re creating a seamless ecosystem ready to scale liquidity, expand the community, and innovate in decentralized trading.

To the Kwenta community, thank you for your support. Together, we’re shaping the future of DeFi—accessible, efficient, and built to last. Welcome to Synthetix!

Join the Community

• Discord: Kwenta Discord | Synthetix Discord

• Twitter: Kwenta Twitter | Synthetix Twitter

• Trade Perps: Kwenta

Kwenta operates as a decentralized and composable exchange onchain, offering access perpetual futures contracts on Arbitrum Optimism and Base. Enabling users to trade a wide range of derivatives.

Trading for these new V3 Markets has now been enabled on:

https://kwenta.io/market/?asset=PNUT&provider=snx_v3_arb

Fees can and will vary depending on the asset, and the newest fees can be found directly on the UI.

📝 - Contract Specc

PNUT- PERP

• Max Market Value: $3,000,000

• Initial Margin Ratio: 4.688

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 10,000,000

Perps markets will share the following configurations:

• TakerFeeRatio: 10 bp (5 bp during the promotional period)

• MakerFeeRatio: 0 bp

• maxFundingVelocity: 9

• flagRewardRatio: 3 bp

• minimumPositionMargin: 50

• lockedOiRatio: 0.5

• maxLiquidationLimitMultiplier: 1.5

• maxLiquidationPD: 5 bp

• endorsedLiquidator: "0x11233749514Ab8d00C0A5873DF7428b3db70030f"

Risk warning:

Synthetix provides decentralized derivatives liquidity for protocols like Kwenta. Demand, liquidity, and volatility drive the selection process for adding new markets. Trading is subject to high market risk. Please make your trades cautiously. We make best efforts to choose high-quality coins but will not be responsible for trading losses. Thanks for your support!

Join the Kwenta Community

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.

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 Synthetix, showcasing the utility of synthetic assets while allowing Synthetix to focus on its core mission of liquidity provision. Kwenta’s independence enabled it to develop a focused and responsive trading platform, innovating rapidly and engaging deeply with the community to create the most successful SNX front end to date. However, this separation also introduced challenges, including a divergence in priorities and coordination bottlenecks that hindered the development of Synthetix Perps.

With the unification now approved, these challenges are resolved. This new structure allows Kwenta’s trading and frontend expertise to combine with Synthetix’s liquidity engine, creating a powerhouse team singularly focused on delivering the best product. For traders, this unified vision brings the trading experience front and center at every level of the development process.

What This Means for Kwenta Token Holders

Under the approved proposal, KWENTA token holders will convert their holdings to SNX at a rate of 1 KWENTA to 17 SNX, reflecting a total valuation of approximately $13.2 million. This valuation includes only outstanding KWENTA held by the community, and not the tokens held in either project treasury.

The SNX tokens issued in this transaction will follow a 3-month lock period beginning on November 15, 2024, with a 9-month linear vesting schedule starting after this lock. KWENTA holders will be able to redeem their vested SNX at any point during this period.

Escrowed KWENTA and Staking Rewards

To make this transition seamless:

• Escrowed KWENTA: All escrowed entries may be vested with a 0% penalty once the transition begins, allowing holders to access these tokens without early vesting fees.

• Unclaimed Rewards: All unclaimed staking rewards will be claimable with 0 vest fee.

• USDC Rewards: Existing USDC rewards will remain claimable, but no new rewards will accumulate after November 11th, 2024

Once holdings are converted to liquid KWENTA, a new contract will allow conversion into SNX under the proposal terms.

Governance and Future of the KWENTA Token

Once redeemed for SNX tokens, the KWENTA token will no longer exist, as all governance, tokenomics, and front-end decisions will be governed by the Synthetix governance structure. This proposal supersedes all previous tokenomics plans, streamlining governance under a single, unified protocol.

By exchanging KWENTA for SNX tokens, stakeholders will have the opportunity to participate in governance decisions and play an active role in shaping the future of the unified protocol.

Rewards Programs and Kwenta Points

Participants in the Kwenta points program represent the cornerstone of the Kwenta community, and we encourage users to participate with Synthetix and share your feedback on how Synthetix can best welcome our traders. There are no confirmed rewards incentives at this time, but Kwenta core contributors will facilitate the handover of existing points data.

Additionally, traders on Optimism are currently earning VIP rewards, and Referral Rewards. Synthetix will be evaluating these programs and may decide to discontinue, restructure, or replace them with new incentives. If you've already earned rewards under these programs, we encourage users to claim their past rewards.

Further updates on incentives and rewards will be provided by Synthetix as we move forward.

For Traders: Business as Usual

For Synthetix Perps users, nothing changes—all existing functionality, including trading, charting, and user tools, will remain live and accessible. Traders can continue to engage with Synthetix Perps markets without interruption, while Synthetix works behind the scenes on any rebranding and integration efforts.

Perennial Integration

As part of this transition, support for Perennial Finance may be discontinued. This change will not happen immediately, and additional information will be provided as the handover progresses. Users wishing to continue using the Perennial integration may access their positions directly through Perennial Finance.

News and Updates

Our Kwenta Discord and social media channels will remain active, providing regular updates and support throughout this process. For any questions, comments, or feedback directed at Synthetix governance and core contributors, the Synthetix Discord is open to our community. You can also find news about the Kwenta acquisiton, and the Synthetix Reboot in the Synthetix Blog.

During this transition, the Synthetix team will work closely with Kwenta’s community to ensure a smooth and transparent transition for users.

The Road Ahead

This unification is more than just an operational shift; it’s a transformative leap toward establishing DeFi’s premier perpetuals platform. By joining forces, Kwenta and Synthetix are creating a powerful foundation for scaling liquidity, user growth, and product innovation. The single, aligned ecosystem allows us to streamline priorities and deliver more consistent, reliable updates to our users.

Together, we’re embracing a future where DeFi is accessible, efficient, and uncompromising in quality. Thank you to every community member who voted, participated in discussions, and contributed feedback. We couldn’t be more excited to step into this next chapter with you.

We encourage our Kwenta community to join the Synthetix community, where you can stay informed, share your thoughts, and participate in shaping the future of this unified protocol. Together, we’re building something remarkable, and we’re excited to have you with us on this journey!

Join the Kwenta Community

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 perps, visit Kwenta.

Kwenta operates as a decentralized and composable exchange onchain, offering access to perpetual futures contracts on Arbitrum, Optimism, and Base. Enabling users to trade a wide range of derivatives.

Trading for these new V3 Markets has now been enabled on:

Kwenta

https://kwenta.io/market/?provider=snx_v3_base&asset=sETH

Fees can and will vary depending on the asset, and the newest fees can be found directly on the UI.

📝 - Contract Specs

GOAT - PERP

• Max Market Value: $3,000,000

• Initial Margin Ratio: 2.459

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 20,000,000

MOODENG - PERP

• Max Market Value: $3,000,000

• Initial Margin Ratio: 1.588

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 50,000,000

SAFE - PERP

• Max Market Value: $500,000

• Initial Margin Ratio: 1.211

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 3,000,000

Perps markets will share the following configurations:

• TakerFeeRatio: 10 bp (5 bp during the promotional period)

• MakerFeeRatio: 0 bp

• maxFundingVelocity: 9

• flagRewardRatio: 3 bp

• minimumPositionMargin: 50

• lockedOiRatio: 0.5

• maxLiquidationLimitMultiplier: 1.5

• maxLiquidationPD: 5 bp

• endorsedLiquidator: "0x11233749514Ab8d00C0A5873DF7428b3db70030f"

Risk warning:

Synthetix provides decentralized derivatives liquidity for protocols like Kwenta. Demand, liquidity, and volatility drive the selection process for adding new markets. Trading is subject to high market risk. Please make your trades cautiously. We make best efforts to choose high-quality coins but will not be responsible for trading losses. Thanks for your support!

Join the Kwenta Community

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.

Why Arbitrum?

Arbitrum gained popularity with derivatives users and DeFi enthusiasts as Ethereum's hub for the most cutting-edge projects. With a rich ecosystem of spot trading, perpetuals, options, volatility products supported by a blazing fast, secure rollup infrastructure, Arbitrum offers a welcoming environment for a fully onchain, composable perps exchange.

What’s New with Synthetix V3?

The Arbitrum launch of Synthetix V3 introduces several major upgrades that aim to streamline and enhance the trading experience for users. Whether you're a novice trader or a seasoned DeFi expert, Kwenta’s intuitive platform makes it easy to access the full potential of these new features:

• Onchain Cross-Margin: Traders can use their entire portfolio as collateral across multiple positions, boosting efficiency and enhancing risk management. This means you no longer need to isolate collateral for each individual trade—unlocking more flexible and dynamic trading strategies.

• Multicollateral Support: The multicollateral system enables traders to deposit and use a variety of assets as collateral. At launch, supported assets include ETH, Threshold wrapped Bitcoin (tBTC), and USDe. This offers traders more opportunities to customize their margin portfolios and build unique payoffs without sacrificing exposure to their favorite assets. Additional collateral types will be introduced soon, expanding flexibility even further.

• Delegated Trading: Delegated wallets are now available on Arbitrum. Securely allow any address to trade on your behalf while maintaining control over margin withdrawals.

• Bridge and Swap: With Kwenta’s bridge and swap functionality powered by Socket, traders can start their journey on Arbitrum by using any supported ERC-20 token from nearly any EVM chain. Take advantage of bridge and swap in margin management modal, or on Kwenta Swaps.

Multicollateral

The new multicollateral system from Synthetix represents the most significant change in Kwenta’s onchain perps offerings, and strikes a balance between decentralization, flexibility, and reliability. To understand the advantages of multicollateral, we can start with a tl;dr of what the system enables, and the unique benefits of each collateral type.

Tl;dr: Multicollateral allows traders to deposit assets such as ETH and tBTC. Traders can leverage the USD value of these asset types without losing exposure, and settle trades in the USDx stablecoin.

Collateral Types

USDx: USDx is the system’s native stablecoin, and all orders on Kwenta are settled in USDx, regardless of which collateral the trader uses. USDx is backed by Synthetix v3 collateral on Arbitrum, and USDe liquidity is used to provide additional liquidity and a reliable peg.

To learn more about USDx:

USDe: Ethena's synthetic dollar, USDe, provides the crypto-native, scalable solution for money achieved by delta-hedging Ethereum and Bitcoin collateral. USDe is fully-backed and free to compose throughout CeFi & DeFi.

To learn more about USDe: https://ethena-labs.gitbook.io/ethena-labs

tBTC: tBTC is a wrapped version of Bitcoin tradable on EVM chains. While the purpose of tBTC on Ethereum is similar to other wrapped assets and stablecoins, Threshold decentralizes the management and custody of the underlying BTC. An oracle is used to track the value of your tBTC deposit when opening trades and calculating maintenance margin.

To learn more about tBTC: https://blog.threshold.network/bridging-the-gap-the-basics-of-tbtc/

ETH/wETH: wETH is the wrapped erc20 version of ETH, and all ETH margin deposits are wrapped to allow them to function as collateral. ETH is, of course, the native asset of the Ethereum network and is liquid and well supported across EVM chains. An oracle is used to track the value of your ETH deposits when opening trades and calculating maintenance margin.

Gasless 1 Click Trading

Kwenta’s Gasless 1 Click Trading eliminates the hassle of managing gas fees and confirmations. With the help of our partners at Alchemy, this feature allows seamless market orders without extra transactions or wallet popups—just focus on trading!

How it Works:

• Activate "Use 1 Click Trading" on the trade preview screen.

• If not already active, sign a quick setup transaction, then select your session length.

• Once live, execute market orders gas-free—no signatures, no delays.

For your security, signatures are still required for advanced orders (e.g., stop-loss or limit), and an onchain transaction is required for withdrawals. We still recommend all users maintain an ETH balance to ensure uninterrupted service.

What's Coming Next?

Kwenta and Synthetix V3 are just getting started on Arbitrum. In the coming months, users can expect even more features and improvements.

Hybrid Orderbook System

The much-anticipated orderbook will operate alongside the existing AMM model, providing traders with more control over their orders, better price discovery, and reduced slippage.

Additional Margin Assets

As Synthetix expands its multicollateral system, more assets like stablecoins, governance tokens, and other ERC-20s can be added as margin options. Stay tuned for these updates as Kwenta continues to evolve its platform with even more tools to empower traders.

Incentives for Traders on Arbitrum!

To celebrate the launch of Synthetix V3 on Arbitrum, traders can earn Kwenta points on even lower fees.

Earn Kwenta Points

As you engage with our cutting-edge on-chain trading features, you'll accumulate Kwenta points based on your trading activity. These points unlock a variety of future perks and incentives within the Kwenta ecosystem. For a detailed breakdown of how the Kwenta points system works, be sure to check out our Points Program Guide.

Limited-Time Fee Reductions

To make your trading experience even more rewarding, we’re offering a limited-time fee reduction! For the first two weeks following the launch, enjoy trading fees slashed to 5 basis points (bp) or less across all markets. This is a unique opportunity to explore the diverse range of markets on Kwenta at ultra-low fees.

Don’t miss out on this chance to maximize your trading potential before fees return to their regular (still competitive) rates! Happy trading!

Join the Kwenta Community

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 perps, visit Kwenta.

Kwenta operates as a decentralized and composable exchange onchain, offering access perpetual futures contracts on Arbitrum Optimism and Base. Enabling users to trade a wide range of derivatives.

Trading for these new V3 Markets has now been enabled on:

https://kwenta.io/market/?provider=snx_v3_base&asset=sETH

Fees can and will vary depending on the asset, and the newest fees can be found directly on the UI.

📝 - Contract Specc

EIGEN - PERP

• Max Market Value: $1,000,000

• Initial Margin Ratio: 0.91

• Minimum Initial Margin Ratio: 5

• Skew Scale: 4,000,000

IO - PERP

• Max Market Value: $1,000,000

• Initial Margin Ratio: 0.694

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 400,000,000

MEW - PERP

• Max Market Value: $1,000,000

• Initial Margin Ratio: 1.597

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 166,500,000

NOT - PERP

• Max Market Value: $1,000,000

• Initial Margin Ratio: 1.14

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 2,250,000

PEOPLE - PERP

• Max Market Value: $1,000,000

• Initial Margin Ratio: 2.403

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 322,500,000

RENDER - PERP

• Max Market Value: $1,000,000

• Initial Margin Ratio: 1.467

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 8,000,000

SATS - PERP

• Max Market Value: $1,000,000

• Initial Margin Ratio: 0.907

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 20,000,000

ZRO - PERP

• Max Market Value: $50,000

• Initial Margin Ratio: 1.037

• Minimum Initial Margin Ratio: 5%

• Skew Scale: 1,875,000,000

Perps markets will share the following configurations:

• TakerFeeRatio: 10 bp

• MakerFeeRatio: 0 bp

• maxFundingVelocity: 9

• flagRewardRatio: 3 bp

• minimumPositionMargin: 50

• lockedOiRatio: 0.5

• maxLiquidationLimitMultiplier: 1.5

• maxLiquidationPD: 5 bp

• endorsedLiquidator: "0x11233749514Ab8d00C0A5873DF7428b3db70030f"

Risk warning:

Synthetix provides decentralized derivatives liquidity for protocols like Kwenta. Demand, liquidity, and volatility drive the selection process for adding new markets. Trading is subject to high market risk. Please make your trades cautiously. We make best efforts to choose high-quality coins but will not be responsible for trading losses. Thanks for your support!

Join the Kwenta Community

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.

These new markets are brought to you by our partners at Perennial, utilizing price feeds powered by Pyth oracles. We are pleased to offer you enhanced trading opportunities with these markets, and we thank you for your continued support.

Trading for these new markets has now been enabled and is live. Trade them here.

Happy Trading!

📝Contract Specs

AERO-PERP

• Market Address: 0x24a305EE9BFeBeA7dC26380a96723D6Fb6066C2C

• Maker/Taker Fees: 0.01% / 0.03%

• Min Collateral: 50 USDC

• Leverage: Up to 25x

• Min Maintenance: 0.80%

POPCAT-PERP

• Market Address: 0xd1551be8c92b35212033B41dBb21efA86389768D

• Maker/Taker Fees: 0.01% / 0.03%

• Min Collateral: 50 USDC

• Leverage: Up to 25x

• Min Maintenance: 0.80%

For detailed market parameters, please refer to: Perennial Market Details

Trader Rewards: Traders on Kwenta can earn ARB rewards by actively trading Perennial’s new AERO and POPCAT markets.

Join the Kwenta Community

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.

The goals for the integration were ambitious. This was Kwenta’s first venture into adding a new integrator beyond Synthetix, and expectations were high. Kwenta sought to maintain the seamless user experience they were known for, but with the added complexity of supporting a new liquidity provider. The Perennial SDK was crucial for maintaining flexibility and ease of updates. The launch aimed to capitalize on ARB rewards to attract traders and offer a UX competitive with centralized exchanges, pushing Kwenta’s UX forward and providing a simpler, more efficient trading experience.

The proposal was passed in February 2024, and the integration went live in late June 2024. As of September 2024, the integration has been operational for approximately three months.

Implementation Process

There were some technical challenges before Kwenta could integrate a second liquidity provider. Kwenta’s codebase required a comprehensive refactor to allow for modularity, making it capable of supporting multiple liquidity providers. The new SDK built by Perennial needed regular updates as the two teams worked together, uncovering areas for optimization and improvement.

Despite these challenges, the collaboration between Kwenta and Perennial was remarkably productive. There was continuous communication, and the relationship was refreshing, with Perennial’s team showing enthusiasm to build a fruitful partnership.

Key Features of the Integration

Perennial’s integration brought a unique set of features to Kwenta’s platform. Its leveraged market-making offers capital efficiency for liquidity providers and improved risk isolation compared to competitors. Perennial’s dynamic fees, which account for gas costs, enabled Kwenta to build a gasless one-click trading feature, providing a seamless experience for users. This entire process remains on-chain, creating a more streamlined and competitive trading environment on Kwenta.

These features complemented Kwenta’s existing offerings by enhancing the user experience and setting new benchmarks for what the platform could deliver. The integration expanded the potential for future partnerships with liquidity providers offering innovative perpetual products, pushing Kwenta’s UX forward and inspiring future developments.

Performance Metrics

The success of Kwenta’s Perennial integration can be seen through 2 key performance metrics: volume, and fees generated.

For detailed performance metrics, see the Kwenta Metrics Dune Dashboard.

Volume Among Kwenta Integrations

The integration of Perennial brought about significant changes in trading volume on Kwenta's platform. Following its launch on Kwenta in late June 2024, Perennial's weekly trading volume quickly ramped up, reaching a peak of $114.45 million by mid-August. August saw an average of $84.2 million in weekly volume, while September averaged $58.1 million, marking Perennial as a substantial contributor to Kwenta's overall performance. While Kwenta’s peak volumes still occured during a few very popular weeks of Synthetix Perps v2 trading, post-Perennial volume remained both consistent and strong, reaching overall peaks of over $500m in weekly volume.

During its peak week in relative strength, Perennial contributed 32% of Kwenta's total trading volume and consistently accounted for 30-40% of weekly volume throughout September. Although SNX v2 remains historically popular, Perennial’s consistent weekly volumes exceeding $60 million in early September made Perennial the most popular Kwenta integration during this month during an overall downturn in the derivatives market.

Volume Compared with the Broader Market

Kwenta’s overall market share remained stable and substantial, often accounting for 60-80% of market share during the period from June to August 2024, a strong indicator of resilience and competitive positioning. The integration elevated Kwenta’s status to an aggregator, increasing its visibility and appeal to a broader range of traders.

For detailed derivatives aggregator stats, see the DefiLlama Derivatives Aggregator Dashboard

Perennial, meanwhile, saw a drastic increase in trading volume, with its average weekly volume rising from about $10 million before the integration to consistently over $40 million afterward. This four- to tenfold increase in volume underscores the significant impact Kwenta’s integration had on Perennial’s market performance.

For detailed perennial stats, see the DefiLlama Perennial Dashboard

Fee Generation

Kwenta stakers also benefited from the integration through fee generation. In June 2024, stakers began receiving fees from Perennial trades, and by September, Perennial had become the dominant fee contributor, accounting for 90.8% of staker fee capture. This diversified the fee sources for Kwenta stakers and increased overall fee generation, with total monthly staker fees growing by 13.5% after Perennial’s integration.

New integration proposals with Gains and GMX show how a growing demand for frontends has emerged among DeFi liquidity providers, and a market rate for traffic is beginning to emerge, defining the B2B relationships between liquidity providers and frontend builders.

The Trading Experience

The primary goal of Kwenta’s Perps Marketplace is to provide users with simple, powerful access to novel markets and features, deep liquidity, and optimal pricing. Success means providing intuitive access to practical tools.

UX

Feedback from traders and the community highlighted the success of the integration. Traders appreciated the speed, simplicity, and reliability of the Perennial-powered platform, with the one-click trading feature being particularly well-received. Testimonials from users underscored the platform’s low fees, straightforward liquidation mechanisms, and consistent performance. While liquidity constraints were noted, leading to high funding rates, this was expected for a newer perpetual futures platform.

Key features such as a complete SDK, native limit orders, dynamic fees which enable gasless trading, delegated trading, and active support from the Perennial team ensured a seamless integration with a high degree of reliability for users. In particular, gasless 1 click trading and improved reliability for limit orders received the most positive feedback, and set a standard for future integrations which will allow Kwenta to work with any onchain perps provider to build a more CEX-like experience.

Market Offerings

The integration of Perennial allowed Kwenta to expand its asset offerings to include traditional finance pairs such as Gold, EUR, JPY, and GBP, attracting a wider range of traders. Perennial’s unique leveraged market making makes spinning up new markets with high risk profiles easier since liquidity is not shared from a single pool across every market, and demand can be instantly met by a single market maker allocating liquidity to a given market.

This allows Kwenta to offer markets not seen even on other popular DeFi perps exchanges, such as power perps and may allow markets on NFT floor prices and other long tail markets in the future. For a current list of all available markets, see the markets page on Kwenta and select Arbitrum as the active network.

What it All Means

The integration of Perennial into Kwenta has been a resounding success. Both platforms have benefited immensely, with substantial volume growth and improved user experience. The integration has solidified Kwenta’s market position, diversified fee streams for stakers, and expanded asset offerings. Although ARB rewards contributed to the initial success, Perennial’s consistent performance since the launch suggests that the platform will continue to play a crucial role in Kwenta’s future.

Perennial is set to expand to the Base chain and launch a V2 perps product featuring a hybrid AMM-order book model, which promises to further enhance capital efficiency. Kwenta remains committed to supporting Perennial’s upgrades and anticipates that Perennial will continue to drive a substantial portion of its volume in the future.

Likewise, a focus on improving the experience of navigating between liquidity providers and expanding offerings on Arbitrum should significantly ease the frictions Kwenta users experience when taking advantage of integrations like Perennial. Providing users simple tools for moving margin between markets should allow more users to take advantage of unique offerings from Perennial.

Join the Kwenta Community

If you haven't already, join the Kwenta community on Discord.

To be the first to learn about news and updates, follow Kwenta on Twitter.

To trade, visit Kwenta.

How to Earn Points

The best way to earn points is to trade on Kwenta! To maximize your points, Kwenta does offer retroactive points, bonuses, and more. Here’s a breakdown of how you can earn points in the Kwenta Points Program:

• Trading: For trades on or after May 23rd at 00:00 UTC, you earn 20 EXP per $1 in trading fees. If you traded on Base v3 before May 23rd, you will receive a retroactive reward of 40 EXP per $1 in trading fees.

• Perps Whale Bonus: If you’ve conducted $1 million or more in historical volume before May 23rd, 2024, on any supported perps platforms (GMX, Gains Trade, MUX, Vertex, or Synthetix v2 Perps including Kwenta), and you complete $500 in trading fees during Season 1, you’ll earn an additional 10,000 bonus EXP.

• Upcoming Opportunities: Kwenta is working on new opportunities like a revamped referral program, yield opportunities, and more. Stay tuned to Kwenta’s social media for the latest news.

• End-of-Season Bonus: At the end of each season, you’ll receive bonus EXP based on your final rank, giving you an extra boost for your efforts.

These activities offer plenty of ways to rack up points and rise through the ranks. Be sure to check back often since new actions and points missions will be added.

Seasons and Rewards

The Kwenta Points Program is organized into seasons, each offering unique rewards based on your participation and rank. Here’s how it works:

Seasons Structure

The length of each season will be decided by Kwenta governance and announced on Discord and Twitter, but will line up with major product releases. During each season you can earn points through trading and other activities. The points you accumulate contribute to your rank within the current season, and your performance is reset at the beginning of each new season.

Ranking and Levels

Your rank is determined by the total points you've earned in the current season. As you collect more points, you'll advance through levels, starting from NPC and moving up through Novice, Journeyman, Expert, Master, Grandmaster, and ultimately to God Tier. Each tier offers increasingly valuable rewards, with bonus EXP distributed based on your subtier at the end of the season.

Rewards Distribution

Although specific reward details have not yet been released, they may be announced at any time during, or shortly after the conclusion of the season. Rewards may change from season to season, so make sure to check back for new updates and opportunities.

Tracking Your Progress: Points Dashboard Overview

To help you easily track your progress within the Kwenta Points Program, we’ve integrated several key features into the platform's UI:

Points Tracking in the Kwenta UI

You can quickly check your rank and current points by hovering over your profile picture at the top of the UI. Your rank is visually represented by a profile picture, which changes as you advance. A progress bar beneath your points total indicates how close you are to reaching your next milestone.

Earnings Notifications

Wondering how many points you earned for your recent trade? Every time you earn points or climb the ranking ladder, you’ll get a notification in the bottom right of your screen. This notification serves as a verification and quick reference for your earnings and rank.

Points Dashboard

The Points Dashboard is your central hub for tracking all aspects of your progress and standing within the Kwenta Points Program. Here’s what you’ll find:

• Overview Tab: This tab provides a snapshot of your current rank, points, and progress within the season. You’ll also see a quick tip on how points are earned—like earning 20 points per $1 in trading fees.

• Leaderboard and Activity Feed: The Score Board shows how you rank compared to other traders, displaying wallet addresses or ENS if applicable, along with total points. The Activity Feed displays recent activities from all users participating in the Points Program, offering a real-time view of what’s happening across the platform.

• Seasons Tab: The Seasons tab offers a detailed breakdown of your performance within the current season. You’ll see when the season started, your total points earned, and your current level. This tab is perfect for tracking your progress over time and understanding how your efforts are paying off.

• History Tab: The History tab provides a detailed log of all your point-earning activities. Here, you can see the date and time of each trade, the type of activity, the season in which the points were earned, the account used, and the exact number of points earned.

Ready to Rise the Ranks?

The Kwenta Points Program is all about rewarding your engagement and dedication. The more you trade and participate in the Kwenta ecosystem, the more you’ll earn. So, dive into the Points Dashboard, start trading, and see how quickly you can rise through the ranks.

For more details on how the Kwenta Points Program works and tips on maximizing your rewards, visit our Points Program Page and review KIP-128 for the full breakdown.

Join the Kwenta Community

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.

These new markets are brought to you by our partners at Perennial, utilizing price feeds powered by Pyth oracles. We are pleased to offer you enhanced trading opportunities with these markets, and we thank you for your continued support.

Trading for these new markets has now been enabled and is live. Trade them here.

Happy Trading!

📝Contract Specs

EUR-PERP

• Market Address: 0xb8df4bea28B1F0748D386E8A69ea1bD46B70922d

• Maker/Taker Fees: 0.01% / 0.02%

• Min Collateral: 50 USDC

• Leverage: Up to 100x

• Min Maintenance: 0.80%

GBP-PERP

• Market Address: 0xe588d7d041e18E754e95eF51D77f6e0fC6334EfD

• Maker/Taker Fees: 0.01% / 0.02%

• Min Collateral: 50 USDC

• Leverage: Up to 100x

• Min Maintenance: 0.80%

For detailed market parameters, please refer to: Perennial Market Details

Trader Rewards: Traders on Kwenta can earn ARB rewards by actively trading Perennial’s new EUR and GBP markets.

Join the Kwenta Community

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.

This new market is brought to you by our partners at Perennial, utilizing a price feed powered by Pyth oracles. We are pleased to offer you enhanced trading opportunities with this market, and we thank you for your continued support.

Trading for this new market has now been enabled and is live. Trade it here.

Happy Trading!

📝Contract Specs

DOGE10-PERP

• Market Address: 0x5bef017aC7Ea4f6f59946f27d50A137D4362F6A4

• Maker/Taker Fees: 0.01% / 0.08%

• Min Collateral: 50 USDC

• Leverage: Up to 50x

• Min Maintenance: 1.60%

• Price Transform: DOGE * 10

For detailed market parameters, please refer to: Perennial Market Details

Trader Rewards: Traders on Kwenta can earn ARB rewards by actively trading Perennial’s new DOGE market.

Join the Kwenta Community

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.

What has changed?

While the KIPs referenced above approved rewards distribution to stakers and outlined a technical approach, there are four main changes to staking which enable these rewards, and which are now active.

Fee Share from Multiple Protocols

We're implementing a new default policy for fee distribution. Fee share from new and future integrated protocols will be redistributed to KWENTA stakers on Optimism. This includes new integrations like Perennial on Arbitrum and any future protocol integrations. The treasuryDAO will manage the capture, bridging, and redistribution of these fees, and $KWENTA stakers directly benefit from the platform's growth.

Dual Token Rewards

KWENTA and USDC The StakingRewards contract has been upgraded to support both $KWENTA and $USDC rewards. This means you'll now earn two types of tokens for your staking efforts.

• $KWENTA: Continues to accrue from inflationary rewards and early vest fees.

• $USDC: Continuously streams as fee share from Synthetix, Perennial, and future integrations are sent to the contract.

This technical upgrade allows the immediate start of all $USDC rewards, including the backlog of rewards since the launch of Synthetix v3. This rewards backlog will be distributed at 10,000 $USDC per week in addition to ongoing rewards. By spreading the distribution of the $USDC backlog over time, long term stakers are rewarded.

Continuous Reward Accrual and Distribution

We've revamped how USDC rewards accrue and distribute. Now, USDC rewards will accrue continuously with weekly additions to the StakingRewards contract. There's no longer a need to wait for large thresholds, ensuring more predictable and frequent rewards, especially benefiting smaller stakers.

What should I do?

Okay, this all sounds great. But how do I take advantage of this new change as a staker, or potential staker?

If you're already staking KWENTA

You’re already earning! These upgrades will automatically apply to your staked tokens. You can see your accrued USDC rewards on the staking page and claim at any time.

For those considering staking.

If you’d like to stake your $KWENTA, ensure that your $KWENTA tokens are on the Optimism network. If you have tokens on another network, you can bridge to Optimism via Celer Bridge. If you don’t yet have $KWENTA tokens, you can get $KWENTA on the Optimism network using your favorite swap aggregator (we like LlamaSwap, but it’s up to you!)

Once your tokens are on Optimism, simply visit our staking page and consult our documentation for step-by-step instructions.

Looking Forward

This change represents the first of several planned changes to Kwenta’s tokenomics system. By enabling $USDC streaming, Kwenta is laying the foundation for our revolutionary $KSX upgrade, described in KIP-123. $KSX, a liquid staking derivative built on the $KWENTA token, will enable automated buybacks and compounding in a multichain token designed to provide deeper liquidity and a simple user experience.

These tokenomics upgrades work alongside Kwenta’s new integrations and chain expansions as we unveil Kwenta’s innovative derivatives marketplace — a powerful one-stop-shop for onchain leverage.

Join the Kwenta Community

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.

This new market is brought to you by our partners at Perennial, utilizing a price feed powered by Pyth oracles. We are pleased to offer you enhanced trading opportunities with this market, and we thank you for your continued support.

Trading for this new market has now been enabled and is live. Trade it here.

Happy Trading!

📝Contract Specs

MKR-PERP

• Market Address: 0xe8BF156034b64A7266AcD28046F67f3fa7Ecc53a

• Maker/Taker Fees: 0.01% / 0.06%

• Min Collateral: 50 USDC

• Leverage: Up to 27.03x

• Min Maintenance: 3.20%

For detailed market parameters, please refer to: Perennial Market Details

Trader Rewards: Traders on Kwenta can earn ARB rewards by actively trading Perennial’s new MKR market.

Join the Kwenta Community

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.

This new market is brought to you by our partners at Perennial, utilizing a price feed powered by Pyth oracles. We are pleased to offer you enhanced trading opportunities with this market, and we thank you for your continued support. Happy trading!

Trading for this new market has now been enabled and is live. Trade it here.

Happy Mogging!

📝Contract Specs

MOG-PERP

• Market Address: 0xc8b73eCFdb775cB9899A0d22fFc8d11228Ac35CB

• Maker/Taker Fees: 0.01% / 0.15%

• Min Collateral: 50 USDC

• Leverage: Up to 10.52x

• Min Maintenance: 8.0%

• Price Transform: MOG * 1,000,000

For detailed market parameters, please refer to: Perennial Market Details

Trader Rewards: Traders on Kwenta can earn ARB rewards by actively trading Perennial’s new MOG market.

Join the Kwenta Community

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.

This new market is brought to you by our partners at Perennial, utilizing a price feed powered by Pyth oracles. We are pleased to offer you enhanced trading opportunities with this market, and we thank you for your continued support. Happy trading!

Trading for this new market has now been enabled and is live. Trade it here.

Note: Traditional financial markets adhere to real-world open and close hours due to reliance on data from traditional markets. Be aware that funding and interest payments will accrue during market close periods.

Happy Trading!

📝Contract Specs

JPY-PERP

• Market Address: 0xB7558189c794239ef9453208f2e58Fa049E1035c

• Maker/Taker Fees: 0.01% / 0.02%

• Min Collateral: 50 USDC

• Leverage: Up to 125x

• Min Maintenance: 0.80%

For detailed market parameters, please refer to: Perennial Market Details

Join the Kwenta Community

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 is excited to announce the return of the Gold (XAU) perpetual futures market, available for leverage trading through Kwenta on Arbitrum.

This new market is brought to you by our partners at Perennial, utilizing a price feed powered by Pyth oracles. We are pleased to offer you enhanced trading opportunities with this market, and we thank you for your continued support. Happy trading!

Trading for this new market has now been enabled and is live. Trade it here.

Note: Traditional financial markets adhere to real-world open and close hours due to reliance on data from traditional markets. Be aware that funding and interest payments will accrue during market close periods.

Happy Trading!

📝Contract Specs

XAU-PERP

• Market Address: 0x1A1745e9cc740269D3e75b506e1AbF7Cbf1fE7d3

• Maker/Taker Fees: 0.01% / 0.03%

• Min Collateral: 50 USDC

• Leverage: Up to 105.26x

• Min Maintenance: 0.80%

For detailed market parameters, please refer to: Perennial Market Details

Join the Kwenta Community

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.

What is the Kwenta Council?

The Kwenta Council is a 5 entity representative body which votes on Kwenta Improvement Proposals, or KIPs. A KIP may be submitted by any community member, and is a proposal to direct DAO policy and protocol development. All community members may participate in the KIP process by proposing KIPs, and attending KIP presentations in Discord, but only Kwenta Council members may vote. See the Kwenta Governance Page to learn more.

Once elected, each council serves for a period of 4 months. Following the election, the next council transition will occur on August 6th, and the new council will oversee KwentaDAO policy for.

How do I vote?

Only holders of Staked $KWENTA tokens may vote. In order to participate in this election, your Kwenta must have already been staked during the snapshot, as mentioned in our previous blog.

Each staked $KWENTA represents 1 vote, and each wallet may vote for a single candidate. The election was opened on July 23rd at 00:01 UTC, and will remain open for exactly 1 week, closing on July 30th at 00:00 UTC.

To vote, simply head to Snapshot and connect your wallet.

Who is running?

During the nomination period, prospective council members gave their pitch in Discord. While all community members are welcome to engage in Discord governance channels and ask questions to the candidates, we’ve compiled the pitches here in this blog for your convenience.

Please read the council pitches carefully and make your choice. Happy voting!

The Candidates

Bulls-vs-Bears🐻

Hello everybody!

I'm Bulls-Bears. I discovered Kwenta 8 months ago, and since then, I've been on Discord every day. Some of you know me; others maybe not. Enough about me; now it's time to move on to proposals.

Community Engagement

I have actively contributed to discussions and initiatives within the Kwenta community, demonstrating my dedication and understanding of the platform's goals. Through ongoing participation, I've built valuable connections and stayed informed about the latest developments.

Why I am Qualified

• DeFi Enthusiast: I bring extensive knowledge and experience from my active involvement in the DeFi space.

• Community Member: Engaging deeply in Kwenta discussions and initiatives underscores my commitment to the community's advancement.

• Relevant Skills: With a background in marketing, I possess the skills needed to effectively promote Kwenta and attract new users to our platform.

Community Involvement and Rewards

I am passionate about enhancing community engagement by advocating for initiatives that benefit all Kwenta users. I prioritize supporting proposals that drive Kwenta's development and elevate the value of the Kwenta token. Together, let's fortify Kwenta's position and foster a community where every voice matters.

Thoughtful Voting

I pledge to vote responsibly, endorsing proposals that deliver tangible benefits to our community. Each decision will be carefully considered against our collective objectives. I am committed to refraining from backing initiatives that do not align with our shared goals.

Let's unite and propel Kwenta to even greater heights!

This is my ethereum address: 0x55dDa08152cB1dBDDaa789efBA3E0632a5Aa2C9E

50

Hello everyone,

perhaps a few of you already know me from Synthetix and other areas, but given that I generally tend to be more on the lurker side of things I'll take a couple secs to do a rapid-fire intro:

My irl name is Jonathan, and I'm from the UK - I was first properly introduced to crypto around 3/4 years ago after previously studying traditional financial derivatives. I now work as a software engineer in web3, and have over the past 5 months received grants from both Synthetix and GMX to build programs to automate funding rate arbitrage strategies.

Anyhow, with that out of the way:

What I will bring

My primary goal in any DAO governance environment is to prioritize focus; in my personal experience, many governance entities flounder due to a lack of direction - failing to sufficiently push ahead on the most valuable opportunities and spending too much time debating ideas that may be valuable, but have no clear execution path. You can probably expect me to be in favour of fewer initiatives on the whole, but to back those that possess the highest expected ROI with the seriousness and attention that they deserve.

Qualifications

Having a deeper than average understanding of the mechanisms and codebases of various perps protocols, I feel confident in my ability to assess new proposals - both on a technical level as it relates to Kwenta and more generally how it will fit into the wider ecosystem of on-chain perps platforms. I've also been active in on-chain governance for >3 years now, and have seen my fair share of the good, the bad and the ugly that goes along with it - I like to think I've learned a thing or two about communication in that time :)

In short...

Although I likely won't be leading any twitter promotion campaigns, I do intend to execute on the primary responsibilities of any council member: To filter out as much noise as possible and to help plan and execute upon clear, actionable initiatives that will have the most tangible ROI.

Wallet Address

Ethereum: 0xa6D1FEda6fc70680816eF6A23faf5e454e2f9C09 (don't laugh too hard at the trading history)

Final note

My DMs are open here on discord, and I can also be reached on telegram at @JonathanFeasby and on Github at 50shadesofgwei. I'm online more than is likely healthy for my eyes, so don't be scared to reach out and discuss or give me feedback at any time.

Andotlas | Kwenta

GM,

I'm nominating myself for council. I'm a Synthetix OG and an architect behind the Kwenta DAO. I'm currently a Core Contributor leading strategy and operations.

I envision a future for Kwenta that abstracts away being onchain by providing a login flow with email or your wallet (and more options in the future), which leads to a gasless experience for trading perps on all the major exchanges such as Synthetix, Perennial, Gains, GMX, and more. This will provide users with the easiest and most enjoyable way to access onchain perps, positioning Kwenta to control the majority of perps order flow and thereby capture fee share from the volume generated, as well as additional fees when appropriate, in order to cover development costs and payout staker rewards.

We are close to achieving this vision but we require a council that is willing to turn down opportunities that distract from this goal and collaborates with the current Core Contributors to execute.

I believe DeFi has forgotten that doing $1B dollar volume days with $10B spikes on a high volatility day is still on the table with the right marketing, onboarding, and product delivery mix. Let's bring the hopium back.

Address: 0x00faccB6E6E4d682EF7892d9362CAB52e896a244

JVK#6935

Gm,

I'm nominating myself because it appears there are not enough candidates applying to seat a full council. If needed, I can serve.

0x8be60fe9F7C8d940D8DA9d5dDD0D8E0c15A4288B

electric | Kwencat

gm Kwencats,

I am running for re-election as a community candidate for the Kwenta council.

After a relatively quiet epoch where much was brewing under the hood, we are approaching a very important period. The main focus will be on the Arbitrum Synthetix v3 and KSX launch, along with onboarding new users.

My long-term vision for Kwenta is straightforward:

• A simple (mobile) app with the best UI and execution for trading perpetuals. No hassle of connecting wallets, choosing chains, selecting liquidity providers, or worrying about gas fees. Everything abstracted into two buttons for the degens: LONG or SHORT.

• Perpetum mobile protocol with value accrual for the KSX/KWENTA holders.

Wallet Address: electricbabe.eth

GUNBOATs _/

As long-standing members of the Synthetix community, we, the Synthetix Ambassadors, are excited to run for the Kwenta Council. Our candidacy focuses on strengthening the synergy between Kwenta and Synthetix, two cornerstone protocols in the DeFi ecosystem.

As Synthetix Ambassadors, we feel well-equipped to contribute to the improvement and maintenance of Kwenta via governance and represent the Synthetix community on Kwenta.

Our Commitment:

• Voice for Synthetix Stakers: We will advocate for Synthetix stakers, ensuring their interests are represented in Kwenta's governance and fostering a mutually beneficial relationship between Kwenta and Synthetix users.

• Supporting Kwenta as a Key Integrator: Recognizing Kwenta as Synthetix's premier partner, we will champion initiatives that leverage this relationship, including the transition to Synthetix V3 and beyond.

• Experienced Governance Contributors: With our extensive involvement in various external governance systems, we bring valuable expertise to enhance Kwenta's decision-making processes.

• Responsible Governance: We pledge to vote promptly via our multisig, ensuring active and timely participation in all council matters.

• Driving Kwenta's Growth: Our goal is to support Kwenta's continued development, expanding its user base and solidifying its position as a leading DeFi platform.

Our Skills and Areas of Expertise:

The Synthetix Ambassador Council is composed of five members who are signers on the OPsnxAmbassadors.eth multi-sig and we oversee governance for many ecosystem protocols.

We are currently active Delegates for several DeFi projects and have experience in submitting and deploying governance proposals and staying up to date on broader governance matters. We also have access to resources within the Synthetix DAO for purposes of protocol integrations.

Our current signers, whose Twitter handles can be found on @snxambassadors profile bio, are made up of a combination of SNX Core Contributors and long-time active community members who are well-versed in the operation of Synthetix and other DeFi/NFT projects. We have a diverse set of skills that include protocol/governance analysis, user acquisition strategies, varying degrees of DeFi integrations, general marketing/communication skills, and a wide range of other abilities in web3 and DeFi alike.

By electing the Synthetix Ambassadors, you're choosing a team committed to Kwenta's success and its vital partnership with Synthetix. Let's work together to unlock the full potential of both protocols.

SNX Ambassadors currently consist of: @mastermojo83 ⇌ @Matt | Synthetix @Westie and @dsacks

platschi | Kwenta

GM,

Running for this epoch as long-term Kwenta CC, previous Council member and devDAO PM. At Kwenta I'm responsible for planning (among other things), making sure Kwenta CCs deliver on KIP and milestones - organizing the chaos of tickets, bugs, improvements and future features to come.

As a council member I would give my input to make sure we are not flooded with KIPs that end up in the backlog for another year, and get features or new integrations approved where they pass feasibility and we are sure to have resources and conviction to build them in the short-term. Nothing worse than an exciting KIP to be then shelved into the voids of the backlog forever.

My address: 0x2fC607bA85DF810a61A7777c5EC0D4C45200c29C

Barko | Kwenta

Hello friends. It's my pleasure to announce the candidacy of Barko.eth, now operating as Bjarko.

Bjarko is a multisig candidate headed by Myself, @Jared, and @derivativesengineer coming back to Kwenta for 1 last epoch.

Who are you guys?

• Burt: Works on marketing and growth at Kwenta.

• Sativa Nakamoto: Works on communications, and has managed several product initiatives as our in-house pro trader.

• Jared: The Smart Contract architect responsible for our Smart Margin system.

Alright Barko, what did you do the past 2 epochs?

The Barko Boys have taken an active role in every aspect of governance, so we have a proven track record in governance. If you've attended a KIP call, you've likely heard me leading the community discussion, presenting KIPs, and behind the scenes the Barko boys frequently lead the private council updates.

We take proactive governance very seriously and go above-and-beyond the call of duty. Our initiatives to increase the governance voice of the community include helping folks format and submit KIPs, and we spearheaded that tokenholder vote initiative for the KSX proposal. We also pioneered the "multisig candidate" for representative governance, which shows our willingness to experiment and improve the process (there are 2 multisig candidates at Synthetix now, and 2 running for KC).

We also aren't afraid to vote "no", which I believe is an underrated quality. While we aim for optimism, we believe it's more important than ever to make tough, realistic decisions. When we do vote "no", I always personally follow up with the reasoning, and changes which could sway my vote.

So what is your vision for Kwenta?

Wow, I'm glad you asked, me. One of the strengths of Barko is our sometimes differing viewpoints and ability to talk through proposals in realtime, however we all agree with a few points:

• One of the biggest challenges at Kwenta is our backlog, and it's important to make sure existing projects can be appropriately prioritized before approving new, large integrations.

• The key to winning is the trading experience, and this means having the BEST place to trade, and not necessarily the most places to trade. What does this mean? While we support some experimentation with new networks and integrations, we should consider carefully how new integrations are superior to, or add value to existing offerings.

• The trader of the future will be on a mobile device.

• The way forward for governance is more decentralization, and not less. Additional experimentation with tokenholder governance votes and other initiatives to increase participation will be a top priority.

Thank you all for participating in this very important election, and I look forward to serving one more time if you guys will have me. :salute~2:

Stay Informed and Engaged

Your participation in these elections shapes the future of Kwenta. We encourage every member of our community to stay informed, engage in discussions, and exercise their right to vote. Together, we are not just building a platform; we are shaping the future of decentralized finance.

Happy nominating and voting!

Join the Kwenta Community

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.

Current Live Rewards

• OP Referral Rewards

• VIP Program

• Points Program

For details on each program, scroll to each section in the Ultimate Kwenta Rewards Blog.

Live Rewards

OP Referral Rewards

With support from the Optimism DAO, Kwenta traders and community members can earn $OP rewards for following a referral link or referring new traders. For more information, see the Kwenta Referral Dashboard or see the Kwenta Documentation. If you need a referral link, come ask in the Kwenta discord or @ kwenta_io on Twitter and the Kwenta community will be happy to provide one!

Network: Optimism

Action Required: Follow a referral link and mint a Boost NFT or Refer a trader.

Potential Rewards: 200,000 $OP distributed on a first come, first serve basis.

Program Details:

• How to Earn: For each trader who mints a Boost NFT and pays fees, 30% of fees are rebated to the trader, and 30% to the affiliate who referred them.

• Example: Affiliate Tom invited Trader Ily. Trader Ily pays $100 in fees. At the end of the weekly epoch, $30 is earned by Affiliate Tom, and $30 is earned by Trader Ily, in OP tokens. The value of OP tokens will be calculated based on market value at the time of distribution.

• Epochs: Weekly rewards epochs begin and end every Monday at 1200 UTC, and continue until all rewards have been distributed.

• Reward Distribution: OP rewards will be claimable from the Rewards Dashboard at the conclusion of each weekly epoch.

For details on how to create or interact with referral links, please see the section in the documentation.

VIP Program

Network: Optimism (other networks TBD)

Action Required: Maintain a minimum 30-day rolling volume to stay in a VIP tier.

Potential Rewards: Fee rebates up to 110% based on volume tiers.

Program Details:

• Tier 0: >$1,000,000 - 10% rebate

• Tier 1: >$10,000,000 - 40% rebate

• Tier 2: >$100,000,000 - 70% rebate

• Tier 3: >$1,000,000,000 - 110% rebate

Rebate Claiming: Traders can claim rebates in real-time, with volume calculated on a 30-day rolling window.

Note: This program is boosted by a $50k monthly grant from Brevis, adding additional OP rewards to the VIP program.

Points Program

Network: All

Action Required: Earn points by trading on Kwenta, with additional bonuses for retroactive trades, whale traders, and end-of-season participation.

Potential Rewards: TBD (bonus EXP and exclusive seasonal rewards are possible).

Program Details:

• Trading: Earn 20 EXP per $1 in trading fees for trades on or after May 23rd, 2024. Retroactive bonus of 40 EXP per $1 in trading fees for Base v3 trades before May 23rd, 2024.

• Perps Whale Bonus: Conduct $1 million+ in historical volume across any supported perps platforms (including GMX, Gains, MUX, Vertex, and Synthetix v2 Perps on Kwenta) and complete $500 in fees during Season 1 to earn an extra 10,000 EXP.

• End-of-Season Bonus: Receive a bonus EXP boost based on your rank at the end of each season.

Proposal: For more information, visit the Points Program Blog and KIP-128.

Note: The program operates in seasons. Your rank resets each season, and new rewards or actions may be introduced. Keep an eye on updates from Kwenta governance and development.

Stay Updated

This blog will serve as a source of truth for rewards, and will be kept up to date as programs launch, expire, or change. Join the Kwenta community to stay informed and maximize your rewards.

Join the Kwenta Community

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.