Kwenta is excited to share the addition of ZRX & UMA futures markets available for leverage trading through Kwenta on Layer 2 Optimism.

Kwenta Lists ZRX & UMA

September 15th, 2023

Hello Traders,

Kwenta is excited to share the addition of UMA & ZRX futures markets 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 50x leverage for makers and takers. Trading for these new markets have now been enabled and are live at:

Synthetix Exchange

Gain exposure to a variety of assets with up to 50x leverage and deep liquidity

kwenta.eth.limo

The prices will be set via decentralized push-based Chainlink oracles, as well as pull-based Pyth Oracles, fees can and will vary depending on the asset, and the newest Futures Fees can be found in the order entry panel.

📝Contract Specs

UMA-PERP

Underlying Asset: $UMA
Open Interest (OI) Cap: 40,000 UMA
Maker/Taker Fees: 2/10 bps
Skew Skale: 3,700,000
The Funding Rate applies to open positions on Perpetual Futures. A positive rate means longs pay shorts, and a negative rate means shorts pay longs.

ZRX-PERP

Underlying Asset: $ZRX
Open Interest (OI) Cap: 2,250,000 ZRX
Maker/Taker Fees: 2/10 bps
Skew Skale: 40,000,000
The Funding Rate applies to open positions on Perpetual Futures. A positive rate means longs pay shorts, and a negative rate means shorts pay longs.

Additional Configurations:

maxLeverage: 25x
liquidationBufferRatio: 150 bp
liquidationPremiumMultiplier: 3
offchainDelayedOrderMinAge: 15 seconds
offchainDelayedOrderMaxAge: 120 seconds
maxFundingVelocity: 36
maxLiquidationDelta: maker+taker offchain fees
maxPD: maxLiquidationDelta * 2

Listing New Markets

Synthetix provides decentralized derivatives liquidity for protocols like Kwenta. Demand, liquidity, and volatility drive the selection process for adding new Markets to Synthetix. Chainlink and Pyth must support the data feeds necessary for any proposed assets to be considered for inclusion.