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.

What are Multi-collateral Perps?

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.

Synthetix Multi-Collateral Perps with 81 New Markets on Kwenta