Kwenta is a decentralized exchange (DEX) built on the Optimism blockchain. It was developed by the team of Synthetix, a protocol that enables the issuance of synthetic assets on the Ethereum blockchain.
Kwenta allows users to trade synthetic assets on the Optimism blockchain, including dollars, gold, stocks, cryptocurrencies, and more. This gives users access to new trading pairs and boosts liquidity of synthetic assets. Kwenta also lets users lock KWENTA tokens in exchange for various benefits. This feature helps Kwenta to attract both users and investors.
Highlights
Synthetic assets
Kwenta allows trading of synthetic assets like dollars, gold, stocks, cryptocurrencies and more that improves diversity and flexibility for users.
Unlimited liquidity
By adopting the peer-to–contract mechanism for transactions and Synthetix protocol’s model, the liquidity of Kwenta is higher than other decentralized platforms.
Futures contracts
Kwenta enables its users to trade crypto perpetual futures contracts from several popular crypto assets having deep liquidity and offers leverage up to 25x. Having deployed Futures on Optimism, traders on Kwenta enjoy fast transactions and significantly reduced network gas fees. Futures allow for the use of leverage. This is the most sought-after advantage as traders can execute orders at a lower cost compared to the matching spot market price.
Easy to follow
Manage transactions with your phones or any mobile device from anywhere.
Zero slippage
Thanks to the unlimited liquidity, there will be no arbitrage on orderbooks.
KWENTA token
Token data
- Token Name: Kwenta Token
- Ticker: KWENTA
- Blockchain: Optimism
- Token Standard: ERC-20
- Contract: 0x920cf626a271321c151d027030d5d08af699456b
- Token Type: Utility, Governance
- Total Supply: 512,394
- Circulating Supply: 165,536
- Max Supply: Updating.
Token allocation
- Synthetix Stakers: 30% (Finished)
- Early Synth Traders: 5% (Complete)
- Investment: 5%
- Community Growth Fund: 25%
- Core Contributors: 15%
- Kwenta Treasury: 20%
Inflation & Fee Allocation
20% of inflation will be routed to the treasury. 60% of inflation will be routed to stakers and 20% to trading rewards. These percentages can be adjusted at the Elite Council’s discretion via a KIP. This will enable Kwenta to sustainably fund DAO roles while enabling the community to use the entire token supply as needed.
Vesting mechanism
KWENTA printed via inflation will undergo a 1-year lock-up period. The lock-up mechanism will begin with a 90% fee for vesting KWENTA early which will decay linearly. If tokens are vested early, the percentage of tokens that are still applicable to the fee will be sent back to the treasury. After one year, the fee would reach 0% and no tokens would be burned when vesting KWENTA.
Roadmap
Investors and partners
According to the information on its official website, Kwenta has cooperated with the big players on DeFi market to provide the best trading experience on the ETH network such as Synthetix, Optimism, Chainlink, etc.
Meanwhile, Kwenta’s investors have not been revealed but as Traxcn reported on March 4, Kwenta is backed by Mona Venture Capital. Some notable projects have been invested in by Mona: Avalanche (AVAX), DAO Maker (DAO), and more.