With today’s launch of Synthetix Multi-Collateral Perps V3 on Kwenta, we’re kicking off a promotional incentive program for traders and liquidity providers.
Traders can now benefit from reduced taker fees for a two-week period, and liquidity providers will see increased APYs as the treasury allocates rewards from trading fees to a month-long promotion.
In the previous versions of Synthetix, traders had to use stablecoins (sUSD or USDC) as collateral. Now, you can use a variety of assets to keep your exposure to your favorite cryptocurrency while trading. The new collateral options are:
- Wrapped Bitcoin (tBTC)
- Ethereum (ETH)
- Ethena (USDe)
- USDx (Synthetix-native Arbitrum stablecoin)
Note: Users who deposit USDe will earn Sats from Ethena’s Season 3 campaign.
New Perps Markets
Along with Multi-Collateral Perps, we’ve added many more available markets for trading. This list of 81 new markets is now live on Kwenta, with other Synthetix integrators expected to follow suit in the near future:
- AAVE
- ADA
- ALGO
- ARB
- ARKM
- APT
- ATOM
- AVAX
- AXL
- AXS
- BAL
- BCH
- BNB
- BLUR
- BOME
- BONK
- BTC
- COMP
- CRV
- DOGE
- DOT
- DYDX
- EIGEN
- ENA
- EOS
- ETC
- ETH
- ETHBTC
- ETHFI
- FIL
- FLOW
- FTM
- FXS
- GALA
- GMX
- GRT
- ICP
- IMX
- INJ
- IO
- JTO
- JUP
- LDO
- LINK
- LTC
- MEW
- MEME
- MKR
- NEAR
- NOT
- OP
- ORDI
- PEPE
- PEOPLE
- PENDLE
- POL
- POPCAT
- PYTH
- RENDER
- RUNE
- SATS
- SEI
- SHIB
- SNX
- SOL
- STX
- STRK
- SUI
- SUSHI
- TAO
- TIA
- TON
- TRX
- UNI
- W
- WIF
- WLD
- XLM
- XRP
- YFI
- ZRO
For additional information on the new markets, such as fees and margin ratios, see our Streamlit dashboard.
Incentives Details
The Synthetix DAO authorized this incentive program with SCCP-351. For a limited time, traders and LPs can benefit from reduced fees and increased APYs as follows:
Trading fee reduction
- Promotion period: Two weeks
- Start date: Today
- Fee reduction: Reduced to 5 bps for taker fees on all markets
- How to participate: Visit Kwenta and trade on the V3 Perps for Arbitrum.
- Bonus: Kwenta’s points program is live. Users who trade on Kwenta during this period will earn points. Visit their blog for more details.
LP APY boost
- Promotion period: 1 month
- Start date: Today
- APY boost: An additional 20% of trading fees, typically allocated to the Treasury, will be distributed proportionally among active liquidity providers in Arbitrum network pools.
- How to participate: Visit https://liquidity.synthetix.eth.limo/ and deposit collateral in any Arbitrum network pool. For more information on pools, see our docs.
- Tip: Depositors can borrow USDx against their deposited collateral interest-free on Arbitrum network pools.
Get Started
Multi-Collateral Perps and many new markets to trade are here to stay, but these incentives are only available for a limited time.
We’re excited to see Kwenta lead the charge as they continue to build one of the most competitive DEXs in the industry – powered by Synthetix.
