Kwenta and Perennial have commenced an ambitious expansion onto the Arbitrum network, supported by a significant 1.9 million ARB grant. The collaboration aims to establish a robust marketplace for onchain perpetuals, leveraging Kwenta’s user-friendly trading interface and Perennial’s advanced liquidity infrastructure. This initiative introduces a comprehensive incentive program, offering trading rebates and liquidity boosting incentives designed to attract and retain users. With a focus on decentralization and efficiency, this partnership promises to enhance the trading experience, setting a new standard in the DeFi space. Have you ever wondered how innovative partnerships can drive the expansion of decentralized finance ecosystems? In the fast-evolving world of blockchain technology, strategic collaborations shape the future of DeFi platforms. One such alliance is between Kwenta and Perennial, which recently announced a significant initiative to expand their services on the Arbitrum network with a robust 1.9 million ARB grant.
Kwenta and Perennial Kickstart Arbitrum Expansion with 1.9M ARB
[PRESS RELEASE – Grand Cayman, Cayman Islands, July 26th, 2024]
Kwenta, the leading onchain perpetuals exchange on the Optimism network, has partnered with Perennial to launch a new joint product and incentive program on the Arbitrum network. This initiative, backed by a substantial 1.9 million ARB grant, aims to attract new users and liquidity providers to Arbitrum and spark renewed interest in onchain perpetuals trading.
Kwenta and Perennial’s Expansion Strategy
Kwenta has established itself as a UX layer for perpetual trading on Optimism and Base networks, and now, it is extending its reach to Arbitrum. This move aims to create a comprehensive marketplace for onchain perpetuals. The effort is facilitated by Perennial V2, an Arbitrum-native protocol designed to provide a hyper-efficient liquidity layer for derivatives trading.
Perennial’s vision of a single, global liquidity layer is becoming a reality through this partnership, integrating Kwenta’s premier trading interface with Perennial’s advanced infrastructure. Users on Arbitrum will enjoy an optimized trading experience with trade orders on selected Kwenta markets being seamlessly routed through Perennial. This ensures optimal efficiency and reliability, combining Kwenta’s superior trading platform with Perennial’s robust infrastructure for a top-tier user experience.
Incentive Program Details
The newly launched incentive program focuses on rewarding user activity in two primary areas:
Trading Rebates
Active traders stand to benefit from substantial fee rebates, significantly reducing the cost of trading on the platform. This is anticipated to drive trading volume and enhance user retention.
Liquidity Boosting
Liquidity providers will receive incentives to supply liquidity, ensuring that markets remain deep and efficient.
For more earning opportunities, users can visit Kwenta’s Rewards Blog or join Perennial’s Discord server for detailed information on trading and liquidity providing rewards.
Team Insights
Burt Rock, Marketing Lead at Kwenta, emphasized the progress made by onchain perpetual markets:
“We’ve seen a lot of new perpetuals markets focused on improving the user experience, but most are making huge sacrifices in terms of decentralization. We want to show people you really can build decentralized apps which are incredible to use, and even better than offchain versions.”
Kevin Britz, CEO & Co-Founder at Perennial, added:
“Kwenta has been a market leader in the perp vertical, regularly pushing over $100M in OI. We’re excited to welcome them to our home on Arbitrum and expand the number of teams leveraging Perennial infrastructure. In a saturated perps landscape, combining our protocol with Kwenta’s interface will lead to increased volume, deeper liquidity, and a CEX-level user experience.”
Future Outlook
The introduction of this incentive program is a crucial step in the evolution of both Kwenta and Perennial. Kwenta focuses on the user experience and frontend aspects of trading, while Perennial provides a robust liquidity layer. This collaboration sets the stage for a decentralized trading experience that is not only efficient but also user-friendly. With specialization in their respective areas, Kwenta and Perennial are showcasing how projects can synergize to deliver superior services in the DeFi space.
The combined expertise of Kwenta and Perennial is poised to elevate the standard of onchain perpetuals trading, making it more accessible and appealing to a broader audience.
For more information, users can visit Kwenta’s website and Perennial’s website. Additional details can be found in Perennial’s launch announcement.
About Kwenta and Perennial
Kwenta: As a leading platform for derivatives trading, Kwenta has facilitated over $50 billion in volume on Optimism and Base. The platform is expanding to Arbitrum to launch its perpetuals marketplace, aiming to provide a single app for comparing and trading on multiple onchain venues.
Perennial: Perennial is a pioneering DeFi liquidity layer offering hyper-efficient infrastructure for various trading applications. Its modular and efficient design supports customized markets, leveraging fast execution and capital efficiency to power DeFi apps.
The collaboration between Kwenta and Perennial stands as a testament to the power of strategic partnerships in driving innovation and growth within the decentralized finance ecosystem. With both entities bringing their specialized strengths to the table, the future of onchain perpetuals trading looks promising.
Will this expansion redefine the landscape of decentralized finance on Arbitrum? Only time will tell, but the initial indicators suggest a synergistic effort that could indeed set new standards in the DeFi space.