GMX and Gains Network Unveil Bids to Integrate Their Platforms into Kwenta’s Upcoming Perpetuals Marketplace

Kwenta, an on-chain derivatives marketplace on Optimism, announced today that it has received proposals from GMX and Gains Network, seeking to integrate with its platform.

According to the Kwenta team, if approved, Gains Network and GMX will integrate their liquidity into Kwenta’s platform. This integration will reportedly help enhance the trading experience for Kwenta users and provide them access to additional markets and liquidity.

The announcement follows Kwenta’s grant, which Arbitrum, DAO, recently approved. The grant seeks to support Kwenta’s initial expansion to the Arbitrum network. The integration will allow the two projects to take advantage of Kwenta’s UX-focused roadmap allowing traders to log in with traditional Web2 credentials and sponsoring gasless transactions. Notably, the integration will drive growth in the on-chain perpetuals space allowing easy access to advanced DeFi products available on Kwenta’s UX layer.

GMX v2 is designed as a flagship perpetual future Automated Market Maker (AMM) built on Arbitrum. GMXv2 offered lower fees and a wider selection of markets. Trading is supported by unique multi-asset pools that earn liquidity fees from market making, leverage trading, and swap fees.

Gains Network has created a liquidity-efficient, user-friendly, decentralized leveraged trading platform. Known for its gTrading platform, Gains Network has over 180 trading pairs for cryptocurrencies, commodities, and forex. The platform allows for low trading fees, a wider range of leverages, and pairs of up to 150x on crypto, 250x on commodities, and 1000x on forex.

As a decentralized derivatives trading platform, Kwenta offers 25x leverage for a limitless range of assets powered by Synthetix. Kwenta offers easy-to-use tools allowing users to access deep liquidity and low fees on-chains. It is currently on Base, Optimism, and Arbiturm. Kwenta has over $50 billion in trading volume from its strong community.

Just recently, Kwenta added 40 new perps to its list of assets eligible for trading. The new additions are available on Kwenta through Perps V3 on the Base network following the approval by SIPs SIP-386 with configurable values set by SCCP-xxx.

Kwenta is working on finalizing its perpetual marketplace. Currently, It is inviting the community to give feedback on GMX and Gains Network’s proposals. Note that if integrated, the move will align with Kwenta’s mission of becoming a leading decentralized trading space for DeFi derivatives trading.