Kwenta and Perennial Propel Arbitrum Growth with a Significant 1.9M ARB

Grand Cayman, Cayman Islands, July 26th, 2024, Chainwire

Kwenta , the premier on-chain perpetuals exchange operating on the Optimism network, has teamed up with Perennial to introduce a new collaborative product and incentive initiative on the Arbitrum network. This venture, underpinned by a generous grant of 1.9 million ARB, is set to attract fresh users and liquidity providers to Arbitrum, igniting renewed enthusiasm in on-chain perpetuals trading.

Kwenta and Perennial’s Growth Strategy

Kwenta, recognized as a user experience layer for perpetual trading on both Optimism and Base, is broadening its horizons by moving into Arbitrum with the aim of creating a comprehensive on-chain perpetuals marketplace. This expansion is supported by Perennial V2, a protocol specifically designed for Arbitrum that functions as an exceptionally efficient liquidity layer for derivative trading. This joint venture seeks to rejuvenate the well-established AMM model for leveraged trading, offering traders a robust, user-friendly interface for engaging with smart contract liquidity.

Perennial envisions establishing a unified, global liquidity layer, where every market, chain, and form of liquidity converge into one decentralized hub. By blending Kwenta’s leading trading interface with Perennial’s sophisticated perpetuals framework, users on Arbitrum are set to enjoy an enhanced trading experience. Trade orders across various chosen Kwenta markets will be efficiently routed through Perennial, ensuring both reliability and effectiveness. This collaboration seamlessly merges Kwenta’s premier trading platform with Perennial’s adept trading infrastructure, thereby enhancing the trading experience for participants.

Incentive Program Details

The newly introduced incentive initiative emphasizes two key aspects:

• Trading Rebates: Engaged traders will reap the benefits of significant fee rebates, making trading on the platform much more economical. This approach is projected to increase trading activity and foster user loyalty.
• Liquidity Enhancement: Liquidity providers will receive rewards for offering liquidity, helping to maintain vibrant and efficient markets. 

For additional insights on how to earn potential rewards, users can navigate to Kwenta’s Rewards Blog for details on trading rewards, or check out Perennial’s Discord server for information related to liquidity provision rewards.

Team Insights

Burt Rock, the Marketing Lead at Kwenta, remarked on the advancements in on-chain perpetuals saying, \"Numerous new perpetual markets are emerging with an aim to enhance the user experience, yet many are compromising on decentralization. We aim to demonstrate that it's absolutely feasible to create decentralized applications that provide exceptional usability, even surpassing their off-chain equivalents.\"

Kevin Britz, Co-Founder and CEO at Perennial, further added, \"Kwenta has consistently positioned itself as a frontrunner in the perpetuals field, frequently achieving over $100M in open interest. We are thrilled to welcome them to our community on Arbitrum and expand the roster of teams utilizing Perennial's infrastructure. In a crowded perpetuals market, merging our protocol with Kwenta’s user interface is bound to amplify trading volume, enrich liquidity, and deliver a user experience akin to centralized exchanges.”

Future Outlook

Launching this incentive program marks a pivotal advancement for both Kwenta and Perennial. Focusing on enhancing the user experience and user interface for trading while Perennial underpins a solid liquidity foundation, this partnership is poised to deliver a decentralized trading journey that balances efficiency with user accessibility. This specialized approach illustrates how different projects can join forces to provide exceptional services within the DeFi domain. The combined prowess of Kwenta and Perennial is set to raise the benchmark for on-chain perpetuals trading, making it not only more available but also more attractive to a broader audience.

For further information, users can visit Kwenta’s website and Perennial’s website . Users can also read Perennial’s launch announcement for additional details.

About Kwenta and Perennial

Kwenta : Kwenta stands as a prominent platform for derivatives trading, having facilitated over $50 billion in trading volume across Optimism and Base, with plans to extend its perpetuals marketplace to Arbitrum, serving as a singular app for comparing and trading across various on-chain platforms.

Perennial : Perennial is a trailblazing DeFi liquidity layer that delivers incredibly efficient infrastructure suited for various trading applications. Its modular and efficient architecture bolsters custom market creation, employing rapid execution and capital efficiency to empower DeFi applications.

Contacts

Burt Rock
Kwenta

Lucas Terry
Perennial