Kwenta and Perennial Launch Arbitrum Expansion with 1.9M ARB, Reported by Chainwire

Grand Cayman, Cayman Islands, July 26th, 2024

Kwenta, a leading on-chain perpetuals trading platform on the Optimism network, has announced a collaboration with Perennial to introduce a new joint product and incentive program on the Arbitrum network. This initiative, supported by a significant grant of 1.9 million ARB, aims to attract fresh users and liquidity providers to Arbitrum while reigniting interest in on-chain perpetuals trading.

Kwenta and Perennial’s Expansion Strategy

Kwenta, recognized for enhancing user experiences in perpetuals trading on Optimism and Base, is now extending its services to Arbitrum. The company seeks to establish a comprehensive marketplace for on-chain perpetuals. This expansion is powered by Perennial V2, an Arbitrum-native protocol that serves as an efficient liquidity layer for derivatives trading. The collaboration aims to rejuvenate the popular automated market maker (AMM) model for leveraged trading, offering a user-friendly interface for traders to engage with smart contract liquidity.

Perennial envisions a unified global liquidity layer that integrates all markets, chains, and liquidity into a decentralized hub. By merging Kwenta’s top-notch trading interface with Perennial’s sophisticated perpetuals infrastructure, users on Arbitrum will enjoy an optimized trading environment. Trade orders from selected Kwenta markets will be efficiently routed through Perennial, ensuring reliability and seamless transactions. This partnership aims to elevate the trading experience for users.

Incentive Program Details

The newly launched incentive program focuses on two key components:

• Trading Rebates: Active traders can take advantage of substantial fee rebates, enhancing the cost-effectiveness of their trades. This initiative is expected to boost trading volumes and encourage user retention.
• Liquidity Boosting: Incentives will be provided to liquidity providers, ensuring that markets remain deep and efficient.

Users interested in learning more about potential rewards can explore Kwenta’s trading rewards details or join Perennial’s community discussions for information on liquidity incentives.

Team Insights

Burt Rock, Marketing Lead at Kwenta, remarked on the advancements in on-chain perpetuals: “While many new perpetuals markets aim to enhance user experience, many compromise on decentralization. We want to demonstrate that it is possible to build decentralized applications that are not only user-friendly but also superior to their off-chain counterparts.”

Kevin Britz, CEO & Co-Founder at Perennial, added, "Kwenta has established itself as a leader in the perpetuals sector, regularly exceeding $100 million in open interest. We’re thrilled to welcome them to our platform on Arbitrum and look forward to expanding the number of teams utilizing our infrastructure. In a crowded landscape of perpetuals, our collaboration with Kwenta will result in increased trading volumes, enhanced liquidity, and a user experience comparable to centralized exchanges."

Future Outlook

This incentive program marks a significant advancement for both Kwenta and Perennial. With Kwenta focusing on the user experience and frontend design, while Perennial delivers a robust liquidity layer, their partnership aims to create a decentralized trading experience that is efficient and user-friendly. This model illustrates how various projects can align to offer improved services in the DeFi space. The combined expertise of Kwenta and Perennial is poised to elevate on-chain perpetuals trading, enhancing its accessibility and appeal to a broader audience.

About Kwenta and Perennial

Kwenta: As a premier derivatives trading platform, Kwenta has facilitated over $50 billion in trading volume. The platform is expanding to Arbitrum to establish its perpetuals marketplace, providing users with a single venue to compare and trade across multiple on-chain platforms.

Perennial: Perennial is a trailblazing DeFi liquidity layer that provides highly efficient infrastructure for diverse trading applications. Its modular design supports custom markets, emphasizing fast execution and capital efficiency to empower DeFi applications.

For further inquiries, please contact the respective marketing leads from Kwenta and Perennial.