New Futures Markets: APE & DYDX
0xC065
June 2nd, 2022

Dear Traders,

Kwenta is happy to say $APE-PERP and $DYDX-PERP are joining the growing list of supported cryptocurrencies, commodities, and forex pairs available for leverage trading through Kwenta on Layer 2 Optimism.

Kwenta is an on-chain composable & decentralized exchange (DEX) for Perpetual Futures contracts, with up to 10x leverage for makers and takers. Using perpetual contracts, users can trade a variety of crypto and non-crypto derivatives.

Trading for these new Futures Markets has now been enabled and is live on:

The $APE-PERP, and $DYDX-PERP prices will be set via decentralized Chainlink oracles, and the base exchange fee for these newly listed synths will be set at 100 bps. Fees can and will vary depending on the asset, and the newest Futures Fees can be found in the Kwenta docs.

Kwenta Futures is still in public beta, and markets included in this release carry low open interest caps set at 2M per market. Synthetix is looking to quickly optimize these new markets to respectively lower and raise necessary parameters via governance.

📝 Contract Specs

APE-PERP

  • Underlying Asset: $APE
  • Settlement Asset: sUSD
  • Open Interest (OI) Cap: 2 million sUSD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The APE Chainlink price oracle
  • Funding: The Funding Rate applies to open positions on Perpetual Futures contracts. A positive rate means longs pay shorts, and a negative rate means shorts pay longs. The funding rate is calculated in real-time every time a position is opened, modified, or closed and is charged at the exit of a trade.
  • Contract Address: Here
  • Futures Fees:
    • Maker: 95bps
    • Taker: 85bps
  • Next Price Fees
    • Maker: 75bps
    • Taker: 75bps

📝 Contract Specs

DYDX-PERP

  • Underlying Asset: $DYDX
  • Settlement Asset: sUSD
  • Open Interest (OI) Cap: 2 million sUSD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The DYDX Chainlink price oracle
  • Funding: The Funding Rate applies to open positions on Perpetual Futures contracts. A positive rate means longs pay shorts, and a negative rate means shorts pay longs. The funding rate is calculated in real-time every time a position is opened, modified, or closed and is charged at the exit of a trade.
  • Contract Address: Here
  • Futures Fees:
    • Maker: 65bps
    • Taker: 55bps
  • Next Price Fees
    • Maker: 45bps
    • Taker: 45bps

Listing New Synths

Synthetix provides decentralized derivatives liquidity for protocols like Kwenta. The selection process for adding new Synths to Synthetix is driven by demand, liquidity, and volatility. Chainlink must support the data feeds necessary for any proposed assets to be considered for inclusion. For more on listing requirements, take a look at SIP-211.

How To Turn Your Idle sUSD To Work

There are a few steps to get started:

  • Bridge assets to Optimism and then convert to sUSD (Kwenta Docs)
  • Head to Kwenta
  • Deposit sUSD margin into a market of choice
  • Happy Trading!

Risk warning:

Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Kwenta will make best efforts to choose high-quality coins, but will not be responsible for your trading losses. Thanks for your support!

Join the Kwenta Community

If you haven't already, join the Kwenta community on Discord.

To learn more about how you can acquire a DAO role as a developer, marketer, governance contributor, or professional trader, visit our Documentation.

To be the first to learn about new updates to Kwenta, follow us on Twitter.

To trade synthetic assets and soon futures, visit Kwenta.

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_i8aoWPGylzTKpgNRHfUK1nX9SgFbnRSKr1vLs6zlQw
Ethereum Address→
0xC065E02D562cc390F3569305990BFD13B17eEC6B
Content Digest
9XSmcBR1C3MsTk4uF7qqW6g1Qh6sYtvqwuwYr8GRfsY