Kwenta and Perennial Kickstart Arbitrum Expansion at 1.9M ARB
Grand Cayman, Cayman Islands, July 26, 2024, Chainwire.
Kwenta, the leading onchain Perennial exchange on the Optimum network, has partnered with Perennial to launch a new joint product and incentive program on the Arbitrum network. This initiative, supported by a 1.9 million ARB grant, aims to attract new users and liquidity providers to Arbitrum and stimulate new interest in onchain perpetual trading.
Kwenta and Perennial's expansion strategy
Known as the UX layer for Perps Business on Optisism and Base, Kwenta is expanding its reach to Arbitrum with the aim of building a sustainable marketplace for onchain. This step is facilitated by Perennial V2, Arbitrum's native protocol that is a highly efficient liquidity layer for derivatives trading. The joint initiative is designed to revitalize the popular AMM model with a powerful, familiar interface for traders to interact with smart contract liquidity.
The multi-year vision is to create a single, global layer of liquidity where all markets, all chains and all liquidity will join into one decentralized network. By integrating Kwenta's premier trading interface with Perennial's advanced Perps infrastructure, users on Arbitrum will benefit from a streamlined trading experience. Trade orders placed on selected Kwenta markets are seamlessly routed through Perennial, ensuring efficiency and reliability. This partnership combines Kwenta's high-end trading platform with Perennial's highly efficient trading infrastructure to deliver the best possible experience for traders.
Details of the incentive program
The newly launched incentive program focuses on two main areas.
Trading discounts: Active traders benefit from high payout discounts, making it more cost-effective to trade on the platform. This initiative is expected to increase transaction volume and retain users. Increasing Liquidity: Liquidity providers receive incentives to provide liquidity by ensuring deep and efficient markets.
For more details on how to earn rewards, users can visit Kwenta's Rewards blog to trade rewards details, or visit Perennial's Discord server for information about cashing out rewards.
Group insights
Bert Rock, Head of Marketing at Kwenta, explains how far OnChain Perps has come, “We've seen a lot of new blockchains focused on improving the user experience, but most are making significant sacrifices in terms of decentralization. We want to show them off with amazing usability and offline versions so that people can build truly decentralized applications.
Kevin Britz, CEO and Co-Founder at Perennial, added, “Kwenta has been a consistent market leader in OI, pushing over $100M in OI. Welcome home at Arbitrum and we're excited to expand our multi-year infrastructure supporting teams. Combining our landscape protocol with the Kwenta interface leads to greater scalability, deeper fluidity, and a CEX-level user experience.
Future view
The introduction of this incentive program represents a significant step in the evolution of Kwenta and Perennial. With Kwenta's focus on UX and front-end business issues and providing a sustainable liquidity layer, the partnership is designed to deliver a highly efficient and user-friendly experience for decentralized commerce. This specialization model shows how projects can integrate to provide advanced services in the DeFi space. The combined expertise of Kwenta and Perennial promises to elevate the level of onchain perennial marketing, making it more accessible and appealing to a wider audience.
For more information, users can visit Kwenta's website and Pernenian's website. Users can read Perennial's launch announcement for more details.
About Kwenta and Perennial
Kwenta: As the leading platform for derivatives trading, Kwenta has facilitated over $50 billion in volume on Optimum and Base. The platform is expanding to Arbitrum to launch its Eternal Marketplace, an app to compare and trade across multiple onchain locations.
For many years: It is the pioneering DeFi liquidity layer that provides the most efficient infrastructure for various business applications for many years. Its modular and agile design supports customized markets, enabling rapid execution and capital efficiency for DeFi applications.
Contacts
Burt Rockwenta[email protected]Lucas Terry Perennial[email protected]
