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Home DeFi

Synthetix launches Multi-Collateral Perps with 81 new markets available on Kwenta

Synthetix by Synthetix
October 24, 2024
in DeFi
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Synthetix launches Multi-Collateral Perps with 81 new markets available on Kwenta
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With today’s launch of Synthetix Multi-Collateral Perps V3 on Kwenta, we’re kicking off a promotional incentive program for traders and liquidity providers. 

Traders can now benefit from reduced taker fees for a two-week period, and liquidity providers will see increased APYs as the treasury allocates rewards from trading fees to a month-long promotion.

In the previous versions of Synthetix, traders had to use stablecoins (sUSD or USDC) as collateral. Now, you can use a variety of assets to keep your exposure to your favorite cryptocurrency while trading. The new collateral options are:

Wrapped Bitcoin (tBTC)
Ethereum (ETH)
Ethena (USDe)
USDx (Synthetix-native Arbitrum stablecoin)

Note: Users who deposit USDe will earn Sats from Ethena’s Season 3 campaign.

New Perps Markets

Along with Multi-Collateral Perps, we’ve added many more available markets for trading. This list of 81 new markets is now live on Kwenta, with other Synthetix integrators expected to follow suit in the near future:

AAVE
ADA
ALGO
ARB
ARK
MAPT
ATOM
AVAX
AXL
AXSB
ALB
BCH 
BNB
BLUR
BOME
BONK
BTC
COMP
CRV
DOGE
DOT
DYDX
EGIN
ENA
EOSE
ETC
ETH
ETHBTC
ETHFI
FIL
FLOW
FTM
FXS
GALA
GMX
GRT
ICP
IMX
INJ
IOJ
TOJ
UPL
DOL
LINK
LTC
MEW
MEME
MKR
NEAR
NOTE
OPORDI
PEPE
PEOPLE
PENDLE
POL
POPCAT
PYTH
REND
RUNES
SATS
SEI
SHIB
SNS
SOL
STX
STRK
SUI
SUSHI
TAOTI
ATON
TRX
UNI
WWI
FDX
LM
XRP
YFI
ZR0

For additional information on the new markets, such as fees and margin ratios, see our Streamlit dashboard.

Incentives Details

The Synthetix DAO authorized this incentive program with SCCP-351. For a limited time, traders and LPs can benefit from reduced fees and increased APYs as follows:

Trading fee reduction

Promotion period: Two weeks
Start date: Today
Fee reduction: Reduced to 5 bps for taker fees on all markets
How to participate: Visit Kwenta and trade on the V3 Perps for Arbitrum.
Bonus: Kwenta’s points program is live. Users who trade on Kwenta during this period will earn points. Visit their blog for more details.

LP APY boost

Promotion period: 1 month
Start date: Today
APY boost: An additional 20% of trading fees, typically allocated to the Treasury, will be distributed proportionally among active liquidity providers in Arbitrum network pools.
How to participate: Visit https://liquidity.synthetix.eth.limo/ and deposit collateral in any Arbitrum network pool. For more information on pools, see our docs.
Tip: Depositors can borrow USDx against their deposited collateral interest-free on Arbitrum network pools.

Get Started

Multi-Collateral Perps and many new markets to trade are here to stay, but these incentives are only available for a limited time.

We’re excited to see Kwenta lead the charge as they continue to build one of the most competitive DEXs in the industry – powered by Synthetix.

Questions?

For more trending news articles like this, check out DeFi Daily News.

Conclusion

As we launch Synthetix Multi-Collateral Perps V3 on Kwenta, we are thrilled to introduce these promotional incentives to traders and liquidity providers. The ability to use a variety of assets as collateral opens up new opportunities for traders to maintain exposure to their favorite cryptocurrencies while trading. With reduced taker fees and increased APYs, we aim to make the trading experience on Kwenta even more rewarding for our users.

With the addition of 81 new markets, traders now have a plethora of options to choose from when engaging in trading activities. The Synthetix DAO-approved incentive program allows participants to enjoy reduced fees and increased APYs for a limited period, making it an opportune time to get involved in the Synthetix ecosystem.

We invite traders and LPs to take advantage of these incentives while they last. Kwenta continues to lead the way in building a competitive DEX platform with a focus on providing a seamless trading experience for all users. We look forward to seeing the positive impact these incentives will have on our community and the broader DeFi space.

Thank you for joining us on this exciting journey as we empower traders and liquidity providers with innovative solutions and rewarding opportunities. Stay tuned for more updates and news as we continue to evolve and grow in the ever-expanding DeFi landscape.



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Tags: KwentalaunchesMarketsMultiCollateralPerpsSynthetix
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