Kwenta Receives Proposals to Integrate GMX and Gains Network into Perpetuals Marketplace

Grand
Cayman,
Cayman
Islands,
July
9th,
2024,
Chainwire

In
a
step
forward
for
the
derivatives
ecosystem
on
Arbitrum,
two
prominent
DeFi
projects,
GMX
and
Gains
Network,
have
unveiled
bids
to
integrate
their
platforms
into
Kwenta’s
upcoming
perpetuals
marketplace.

Kwenta,
the
leading
perpetual
futures
exchange
on
Optimism,
expanded
its
reach
earlier
this
year
by
launching
the
Base
network,
reflecting
a
larger
plan
to
connect
derivatives
liquidity
across
multiple
chains.
This
announcement
follows
the
recent
approval
of
a
grant
from
the
Arbitrum
DAO
aimed
at
supporting
Kwenta’s
initial
expansion
to
the
Arbitrum
network.

Product
Offerings
from
GMX
and
Gains
Network

GMX
and

Gains
Network
have
submitted
their

proposals
to
integrate
their
liquidity
into
Kwenta’s
platform.
These
integrations
aim
to
enhance
the
trading
experience
for
Kwenta
users
by
providing
access
to
additional
markets
and
liquidity,
while
taking
advantage
of
Kwenta’s
UX-focused
roadmap,
which
includes
allowing
traders
to
log
in
with
traditional
web2
credentials
and
sponsoring
gasless
transactions.

GMX
v2,
Arbitrum’s
flagship
perpetual
futures
AMM
(Automated
Market
Maker),
built
on
the
initial
success
of
their
v1
product
by
being
the
first
to
integrate
Chainlink
Data
Streams,
a
low
latency
product
from
the
leading
oracle
provider
aimed
at
high-performance
applications.
The
lower
fees
and
wider
selection
of
markets
available
on
GMX
v2
allowed
the
offering
to
quickly
grow
in
popularity
with
onchain
traders.

Gains
Network,
known
for
its
gTrade
platform,
offers
a
wide
variety
of
trading
pairs,
including
cryptocurrencies,
forex,
and
commodities,
supported
by
their
decentralized
oracle
network.
Gains
Network’s
innovative
approach
to
perpetual
futures
provides
traders
access
to
up
to
150x
leverage
on
a
growing
list
of
nearly
200
markets.

Strengthening
the
Arbitrum
Ecosystem

The
integration
of
GMX
and
Gains
Network
into
Kwenta’s
perpetuals
marketplace
is
expected
to
drive
growth
in
the
onchain
perpetuals
space
by
allowing
users
to
easily
access
advanced
DeFi
products
from
Kwenta’s
easy-to-use
UX
layer.
While
retail-focused
applications
have
made
huge
steps
forward
in
allowing
users
to
quickly
access
the
best
prices
for
token
swaps
and
bridging,
onchain
leverage
has
remained
a
complex
product
for
more
sophisticated
DeFi
enthusiasts.

This
strategic
expansion
brings
Arbitrum’s
most
popular
derivatives
trading
venues
under
a
single
platform,
providing
a
simple
and
familiar
experience
for
traders
new
to
onchain
products.
Kwenta’s
roadmap
promises
to
build
on
these
quality
of
life
features,
allowing
users
to
interact
with
multiple
protocols
in
a
single
application.

Looking
Ahead

Kwenta
is
currently
inviting
community
feedback
on
these
proposals
as
it
moves
towards
finalizing
its
perpetuals
marketplace.
The
potential
integrations
with
GMX
and
Gains
Network
align
with
Kwenta’s
mission
to
provide
a
superior
decentralized
trading
experience.
With
these
developments,
Kwenta
is
aims
to
become
a
leading
venue
for
DeFi
derivatives
trading
on
Arbitrum.

About
Kwenta

Kwenta
is
an
onchain
derivatives
marketplace
on
Optimism,
Base,
and
Arbitrum.
The
platform
offers
easy-to-use
tools
to
access
deep
liquidity
and
low
fees
onchain,
while
users
retain
full
custody
of
their
funds.
With
over
$50
billion
in
trading
volume
through
its
community-governed
platform,
Kwenta
is
committed
to
developing
tools
that
bring
DeFi
to
everyone.

For
more
details,
users
can
follow
Kwenta’s
governance
discussion
channels
on

Discord.

Contact

MarketingDAO
PM
Burt
Rock
Kwenta
[email protected]