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Synthetix and Kwenta: the new v3 on Arbitrum for trading perpetuals
By Daniele Corno
Derivatives protocol Synthetix launches Kwenta v3 on Arbitrum, bringing new opportunities in decentralized derivatives trading
Kwenta's v3 launch and collaboration with Arbitrum
Synthetix has launched v3 on Arbitrum, an Ethereum layer 2 blockchain with about $2.3 billion in total locked value (TVL).
Kwenta, a trading platform for perpetualderivatives, is the first to use the new V3 version on Arbitrum. The launch marks an improvement in liquidity access and trading tools for DeFi users .
With the new V3, traders can now use different types of collateral, moving beyond the traditional stablecoin-only model. Kwenta enables trading with assets such as TBTC and WETH, maintaining exposure to the underlyings and improving the efficiency of trading tools.
Synthetix, currently on Ethereum and its Layer 2 Base, Optimism and Arbitrum, aims to improve the DeFi experience for a wider audience.
81 new markets and gas-free trading on Kwenta
Synthetix also introduced a series of incentives for traders and liquidity providers. For two weeks, traders on Kwenta can take advantage of reduced commissions, while liquidity providers will see their annual returns (APY) increase.
The launch of v3 also brought 81 new derivative instruments, withpopular assets such as LINK, AAVE, DOGE and UNI, providing more opportunities for traders and opening up new markets.
One of the most anticipated new features is thegas-free trading function , which allows traders to trade at no additional cost.
This system makes the trading process simpler, eliminating gas-related costs and steps, an advantage for frequent traders. With these innovations and a presence on other networks such as Optimism and Base, Synthetix aims to establish itself as one of DeFi’s leaders, offering traders a comprehensive and flexible experience.
