New Futures Markets on Kwenta

0xC065
April 12th, 2022

Dear Traders,

Kwenta is ecstatic to announce that $SOL, $AVAX, $MATIC, $AAVE, $UNI, $EUR, $GOLD, and $SILVER 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-asset derivatives.

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

The $SOL, $AVAX, $MATIC, $AAVE, $UNI, $EUR, $GOLD, and $SILVER 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 at Kwenta Docs.

The $GOLD, $SILVER, and $EURO contracts are the first in a collection of exotic assets tradeable with leverage on Kwenta.io. Utilizing Chainlink oracles and the deep liquidity from Synthetix, Kwenta is able to offer some of the most unique markets.

Gold Silver and EUR trading is available 23 hours a day from 6pm ET Sunday through 5pm ET Friday. Trading is closed from 5pm to 6pm ET daily. Spot gold and silver trading also follow CME holiday closures. Market hours and holidays are subject to change.

Kwenta Futures is still in public beta and markets included in this release carry low open Interest caps set at 1M per market, as well as a 100 bps trade fee. Synthetix is looking to quickly optimize these new markets to respectively lower and raise necessary parameters via governance.

📝Contract Specs

SOL-SUSD PERP

  • Underlying Asset: $SOL
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The SOL 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: 100bps
    • Taker: 100bps

📝Contract Specs

AVAX-SUSD PERP

  • Underlying Asset: $AVAX
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The AVAX 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: 100bps
    • Taker: 100bps

📝Contract Specs

MATIC-SUSD

  • Underlying Asset: $MATIC
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The MATIC 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: 100bps
    • Taker: 100bps

📝Contract Specs

AAVE-SUSD

  • Underlying Asset: $AAVE
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The AAVE 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: 100bps
    • Taker: 100bps

📝Contract Specs

UNI-SUSD

  • Underlying Asset: $UNI
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The UNI 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: 100bps
    • Taker: 100bps

📝Contract Specs

EUR-SUSD

  • Underlying Asset: $EUR
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The EUR 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: 100bps
    • Taker: 100bps

📝Contract Specs

GOLD-SUSD

  • Underlying Asset: $GOLD
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The GOLD 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: 100bps
    • Taker: 100bps

📝Contract Specs

SILVER-SUSD

  • Underlying Asset: $SILVER
  • Settlement Asset: $sUSD
  • Open Interest (OI) Cap: 1 million USD
  • Expiry: Perpetual
  • Maximum Leverage: 10x
  • Liquidation Price: The SILVER 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: 100bps
    • Taker: 100bps

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 Crypto into Gold

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 ($GOLD,$SILVER)
  • 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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