🟠Perps V3 Beta
Perps v3 represents a milestone for our perpetual futures trading platform. It is not merely an upgrade but a complete reimagining of decentralized futures trading, offering enhanced flexibility, efficiency, and user experience.
What’s New in Perps v3?
Perps v3 beta is a limited release of our new Perps v3 trading experience. Kwenta and Synthetix have spent the last several months working side by side on an upgraded perps trading experience built on the new Synthetix v3 architecture.
Here's what's new things:
USDC Deposits: Simplifying the trading experience, Perps v3 Beta allows for direct USDC deposits and withdrawals, streamlining the process for traders.
Native Cross-Margin: This feature provides traders with the ability to use their entire portfolio as collateral, enhancing trading efficiency and risk management.
Better Pricing: New in Perps v3, the price at the moment of order commitment—when you submit your order—is the price at which your trade is executed. This upgrade eliminates the frustration of price slippage due to execution delays.
Failed order Replacements: Orders that fail to execute will no longer need to be "canceled", once failed traders can simply place another, which replaces the failed trade automatically.
Support for Base: Perps v3 Beta will support trading on the Base network, built on the OP stack and home to the popular Friend.Tech platform. If you don’t have assets on Base, you can bridge on Kwenta.
Redesigned UX: Perps v3 introduces significantly improves to navigation, trading flows, and data presentation. This comprehensive overhaul focuses on intuitiveness and efficiency, ensuring that both novice and experienced traders can leverage the platform's capabilities to their fullest
Here is how we expect Perps v3 to develop:
Scaling Liquidity: The initial launch of Perps v3 will have limited liquidity, and limited OI caps. As Synthetix attracts more liquidity providers and tests Perps v3 in a real world environment, liquidity is expected to improve in steps, eventually matching or surpassing v2.
Scaling Markets: Just as liquidity must be scaled slowly, the addition of new markets comes with additional risk and higher LP collateral requirements. Markets will be added steadily as the system grows.
Additional Margin Types: While Perps v3 will launch using only Native USDC for margin, the v3 system is designed to support multiple collateral types. Traders should be able to trade collateral such as ETH or other ERC-20 tokens.
Additional Networks: The Synthetix Andromeda release on Base will enable our first network for perps trading outside of Optimism.
What’s Under the Hood?
NFT Accounts: A novel approach to account management, NFT accounts in Perps v3 offer a more flexible and user-friendly way to manage trading activities.
Supermarkets: Supermarkets are the core risk management tool which allows Kwenta to offer native cross margin without limiting the breadth of market offerings. Each “Supermarket” contains one or more perps markets which share collateral.
Smart Margin V3: Smart Margin v3 (SMv3) continues the legacy of its predecessors, aiming to elevate the trading experience on Kwenta by offering advanced tools for trading Synthetix derivatives.
What’s Coming?
Perps v3 Beta is only the first step in Kwenta’s road to building the most functional, flexible, user-friendly perps exchange on Base. Our roadmap for v3 caters to power users and DeFi newbies alike.
Here’s what’s coming in Q2:
Social Login: Trade from the same Smart Margin account on any device.
Custom Alerts: Stay updated on your account and general Kwenta news and updates through email, SMS, or social apps. Receive only the information you want, where you want it.
Updated Design: Take in Kwenta’s new features through a freshly redesigned UI. It’s the Kwenta you love, with a sleek, fresh, more intuitive design.
Mobile Focus: Enjoy a mobile fire experience on any Android or Apple device.
Native Derivatives: Trade or LP new derivatives exclusive to Kwenta alongside our Synthetix integration.
Have Feedback?
This public beta phase invites the wider Kwenta community to evaluate progress made thus far on our Perps v3 integration. Feedback is invaluable at this stage as it will help refine and scale the experience, leading to a robust full-scale launch. Become part of the conversation inTogether, we can push the boundaries of onchain trading.
Become part of the conversation in Discord: https://discord.gg/kwentaio
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