We're super excited to share that Kwenta is now live on Arbitrum thanks to our partners at Perennial Finance, bringing a whole new dimension to our onchain perps marketplace. Kicking off our Arbitrum launch with over 1.2 million $ARB in trading rewards, Kwenta explodes onto the Arbitrum network, providing you with the best UX for decentralized perps trading. With Kwenta on Arbitrum, you'll get a seamless trading experience packed with a wide array of tools and markets—all in one place.
Curious about Perennial? Need help getting to Arbitrum? Want to know how to earn rewards? Grab yourself a beverage and take a seat, we’ll walk you through everything you need to know.
What is Perennial?
Perennial is the liquidity layer for DeFi, live on Arbitrum. By leveraging a fully on-chain automated market maker (AMM), Perennial matches trades directly at current market prices with dynamic funding, fee, and interest rate mechanisms. This innovative approach helps balance skew and open interest, mitigating risk while meeting the needs of both liquidity providers and traders. With a team from Coinbase and Polychain and backing from top investors like Archetype and Scalar Capital, Perennial is dedicated to creating new markets and trading opportunities on a shared liquidity base.
Perennial’s vision is to create a single, global liquidity layer where all markets, all chains, and all liquidity converge into one decentralized nexus. This enables traders to access nearly unlimited markets without needing the underlying asset on the same chain, or on-chain at all.
Read more in our Deep Dive series: Perennial Finance: A DeFi Deep Dive
For more information about Perennial
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Visit Perennial on X.
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Join the Perennial Discord.
Accessing Arbitrum on Kwenta
Ready to explore our expanded marketplace? To get started, all you’ll need is a wallet and some ETH. Kwenta’s interface will allow you to select your preferred network and liquidity source, switch between networks, swap and bridge assets, and begin trading.
If you are totally new to DeFi, you can start with a beginner guide like this one from Business Insider. If you’ve already funded your wallet and are eager to get trading, simply follow the steps below.
Select the Perennial Interface on Arbitrum
You can easily navigate through all our available networks and liquidity sources in the Futures menu in the top navigation bar of the trading interface. To use Arbitrum, simply choose Perennial ARB from the Futures menu.
Switch to the Arbitrum Network
If you don’t already have the Arbitrum network added to your wallet, use the Switch to Arbitrum button or select the Network Selector button at the top right.
Bridge to Arbitrum
New to Arbitrum? We've got you covered! While withdrawing ETH and USDC directly from your favorite CEX is the fastest way to get started, Kwenta’s Bridge & Swap modal, powered by Socket, allows users to onboard from any network with these steps:
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Access the Bridge & Swap modal using the Manage button, found at the bottom of the order entry panel on the left side of the trading interface.
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Find your existing assets. In this screenshot, the user has USDC on the Optimism network.
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Ensure USDC on Arbitrum is selected. Use only USDC, and **not **USDC.e or “Bridged USDC”. (Don’t worry! If you got the wrong one, you can always swap.)
**NOTE: **If you have never traded on Arbitrum before, you will need a small amount of ETH on the Arbitrum network for gas fees. Simply complete this process twice, but toggle the second asset to ETH on Arbitrum. See our section on Gasless 1 Click Trading below for more information.
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Review your route to ensure acceptable speed and output. If you don’t like your route, you can change routes by selecting the gear icon.
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Depending on the assets you select, bridging may require multiple transactions.
Gasless 1 Click Trading
A major improvement in Kwenta’s 1 Click Trading experience comes to Arbitrum with the launch of Perennial: Gasless 1 Click Trading. While Gasless 1 Click Trading is still in early testing this feature release is a fundamental building block of the Kwenta roadmap and vision moving forward.
What is Gasless 1 Click Trading?
In partnership with Alchemy, Kwenta previously released a 1 Click Trading experience which allowed users to avoid wallet confirmations by pre-loading an account with gas for a number of transactions. While this feature added some convenience by removing extra popups and clicks, Kwenta’s aim is to remove the hassles of gas and transaction confirmations altogether, allowing users to trade in DeFi with the same ease as centralized trading.
Gasless 1 Click Trading allows users to pay gas in the same stablecoins used for margin and execution fees, removing the need for users to manage balances of 2 assets. Simply place your trade with USDC and forget about the gas!
How It Works
Gasless 1 Click Trading simplifies the trading process on Kwenta. Users will need gas for a single, initial transaction to set up Gasless 1 Click Trading. Once this setup is complete, you can trade on Arbitrum without needing to continuously manage your ETH balance.
While managing your ETH balance will be easier after the initial transaction, Kwenta recommends keeping sufficient ETH in your wallet for other transactions or as a backup for placing trades.
Ready to try our new Gasless 1 Click Trading? You can begin or manage a 1 Click Trading session at any time from the lightning icon at the top right of the trading interface. For more information, see the docs.
What's New with Perennial?
Market Offerings and Power Perps
Explore 11 exciting markets on Perennial Beta: BTC, ETH, BNB, SOL, LINK, TIA, JUP, ARB, and MATIC. Among these, our standout offerings are the ETH² and BTC² power perps. These unique products let you gain leveraged exposure to the price movements of Ethereum and Bitcoin, amplifying your trading potential and opening up new opportunities for profit.
Oracle Agnosticism
Enjoy the flexibility of rapid market deployment. Perennial’s oracle-agnostic design allows us to quickly introduce new and exotic trading pairs, helping us respond to market demands swiftly and efficiently. New oracle integrations from Perennial will allow novel perps markets like NFT floor perps, and more!
Arbitrum Advantages
Experience the benefits of trading on Arbitrum, a leading L2 solution with lower fees, faster confirmations, and access to a thriving DeFi ecosystem.
Feature-Rich Platform
Perennial is loaded with features that traders and LPs demand: fast oracles, high taker leverage, maker leverage, price impact & dynamic funding, isolated markets, expressive trigger/limit/stop/take-profit orders, a flexible keeper system for automating transactions, multi-asset vaults, and proactive risk management by Gauntlet.
With these powerful new features and enhancements, Perennial on Kwenta offers a comprehensive and advanced trading experience like no other. Dive in and explore all the new possibilities!
Trading Rewards
Kwenta traders can now earn a share of 1.9 million ARB granted by the Arbitrum DAO. This proposal provides incentives for both traders and liquidity providers to ensure a “rewarding” experience for Kwenta users.
How do I earn as a trader?
Earning rewards as a trader is simple! Traders will earn a proportional share of 100k ARB tokens each week based on execution fees.
NOTE:* Execution fees do not include funding or gas fees*
For example,
In a week where traders pay $100,000 USDC in execution fees, a trader paying $1,000 USDC in fees would earn 1% of the total weekly reward, or 1,000 ARB tokens.
When are rewards decided and claimable?
Epochs for ARB tokens begin and end every Monday at 1200 UTC for 12 weeks. Begin earning July 15th at 1200 UTC, and claim your final rewards October 7th, 2024. At this time, each traders’ rewards are calculated based on their fees and the total pool of fees for the preceding weekly epoch, and those rewards become claimable.
While Kwenta does show estimated rewards throughout the week, this number will change as traders make additional trades and pay additional fees. Estimates should become more precise near the end of each epoch.
Where can I track and claim?
You can track and claim your rewards from our new Rewards Dashboard. See claimable rewards from previous epochs, estimated rewards from the current epoch, and claim any available ARB rewards here.
Where can I LP for rewards?
While Kwenta does not yet have an Earn page for yield opportunities, users interested in providing liquidity can check out the Perennial Earn page.
What next?
Kwenta’s integration with Perennial represents the first in a number of included liquidity sources in Kwenta’s Perpetuals Marketplace. Kwenta is committed to bringing the best possible trading experience to DeFi users and redefining the onchain experience.
As a community-focused DAO, your participation and feedback is valuable. Join in the discussion on social media, let us know how you enjoy Kwenta’s new Arbitrum trading experience, and help steer the future of Kwenta.
Join the Kwenta Community
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To trade synthetic assets and futures, visit Kwenta.