Kwenta Receives Proposals to Combine GMX and Features Community into Perpetuals Market

Grand Cayman, Cayman Islands, July ninth, 2024, Chainwire

In a step ahead for the derivatives ecosystem on Arbitrum, two outstanding DeFi tasks, GMX and Features Community, have unveiled bids to combine their platforms into Kwenta’s upcoming perpetuals market. Kwenta, the main perpetual futures trade on Optimism, expanded its attain earlier this 12 months by launching the Base community, reflecting a bigger plan to attach derivatives liquidity throughout a number of chains. This announcement follows the current approval of a grant from the Arbitrum DAO aimed toward supporting Kwenta’s preliminary enlargement to the Arbitrum community.

Product Choices from GMX and Features Community

GMX and Features Community have submitted their proposals to combine their liquidity into Kwenta’s platform. These integrations goal to reinforce the buying and selling expertise for Kwenta customers by offering entry to further markets and liquidity, whereas profiting from Kwenta’s UX-focused roadmap, which incorporates permitting merchants to log in with conventional web2 credentials and sponsoring gasless transactions.

GMX v2, Arbitrum’s flagship perpetual futures AMM (Automated Market Maker), constructed on the preliminary success of their v1 product by being the primary to combine Chainlink Knowledge Streams, a low latency product from the main oracle supplier aimed toward high-performance purposes. The decrease charges and wider choice of markets obtainable on GMX v2 allowed the providing to rapidly develop in recognition with onchain merchants.

Features Community, identified for its gTrade platform, provides all kinds of buying and selling pairs, together with cryptocurrencies, foreign exchange, and commodities, supported by their decentralized oracle community. Features Community’s revolutionary strategy to perpetual futures supplies merchants entry to as much as 150x leverage on a rising record of almost 200 markets.

Strengthening the Arbitrum Ecosystem

The combination of GMX and Features Community into Kwenta’s perpetuals market is predicted to drive development within the onchain perpetuals area by permitting customers to simply entry superior DeFi merchandise from Kwenta’s easy-to-use UX layer. Whereas retail-focused purposes have made enormous steps ahead in permitting customers to rapidly entry the most effective costs for token swaps and bridging, onchain leverage has remained a fancy product for extra subtle DeFi lovers.

This strategic enlargement brings Arbitrum’s hottest derivatives buying and selling venues underneath a single platform, offering a easy and acquainted expertise for merchants new to onchain merchandise. Kwenta’s roadmap guarantees to construct on these high quality of life options, permitting customers to work together with a number of protocols in a single utility.

Wanting Forward

Kwenta is at the moment inviting group suggestions on these proposals because it strikes in the direction of finalizing its perpetuals market. The potential integrations with GMX and Features Community align with Kwenta’s mission to offer a superior decentralized buying and selling expertise. With these developments, Kwenta is goals to develop into a number one venue for DeFi derivatives buying and selling on Arbitrum.

About Kwenta

Kwenta is an onchain derivatives market on Optimism, Base, and Arbitrum. The platform provides easy-to-use instruments to entry deep liquidity and low charges onchain, whereas customers retain full custody of their funds. With over $50 billion in buying and selling quantity by way of its community-governed platform, Kwenta is dedicated to creating instruments that convey DeFi to everybody.

For extra particulars, customers can comply with Kwenta’s governance dialogue channels on Discord.

Contact

MarketingDAO PM
Burt Rock
Kwenta
[email protected]