Hello Traders,

Kwenta is excited to share the addition of a unique asset. stETH/ETH futures are available for 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 this new market has now been enabled and is live at:

Lido stETH Synthetix Perps Trading Incentives:

• Extension News: Additional five weeks of OP rewards– 1500 OP per week

• Reward Caps: Rewards can't exceed fees generated. Ex: $1k in trading fees generated, rewards a MAXIMUM of $1k in OP rewards.

• Trading Epoch: The first epoch starts Sep 13th at 0:00 UTC; the first fee snapshot and subsequent distribution will be on Sep 20/21st.

• Weekly Rewards: 1,500 OP for traders in the stETH perps markets

• Reward Distribution: Pro-rata based on the trader score for the stETH market; visit participating integrators to claim.

• Example Reward Structure: If OP/USD is $1 and there's $1k of stETH fees in a week, each trader will receive 1 OP per $1 of fees paid. This is subject to change based on stETH trading fees.

• 1. $ of fees paid < 100k OP $ value --> 100% fee rebate
• 2. $ of fees paid > 100k OP $ value --> 100k OP distributed pro-rata based on fees paid

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

stETH/ETH-PERP

• Underlying Asset: $stETH/ETH

• Open Interest (OI) Cap: 5,000,000 stETH

• Maker/Taker Fees: 0/2 bps

• Skew Skale: 2,000,000,000

• 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: 50x

• liquidationBufferRatio: 100 bp

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.

Risk warning:

Cryptocurrency trading is subject to high market risk. Please make your trades cautiously.

Join the Kwenta Community

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

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

To trade synthetic assets and futures, visit Kwenta.