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

In a step forward for the derivatives ecosystem on Arbitrum, two prominent DeFi projects, GMX and Gains Network, have unveiled bids to integrate

Grand Cayman, Cayman Islands, 9th July, Chainwire

Two major DeFi projects, GMX and Gains Network, have submitted proposals to integrate their platforms into Kwenta's upcoming perpetuals marketplace, in a move that will advance the derivatives ecosystem on Arbitrum. Kwenta, the leading perpetual futures exchange on Optimism, expanded its presence on Base network earlier this year, as part of a broader initiative to connect derivatives liquidity across multiple chains. This announcement follows the recent approval of a grant from the Arbitrum DAO to support Kwenta's initial expansion to the Arbitrum network.

Product Integrations from GMX and Gains Network

GMX and Gains Network have put forth their respective 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 leveraging Kwenta’s UX-focused roadmap, which includes enabling traders to log in with traditional web2 credentials and sponsoring gasless transactions.

As Arbitrum's flagship perpetual futures AMM (Automated Market Maker), GMX v2 built upon 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 designed for high-performance applications. Lower fees and a wider selection of markets available on GMX v2 saw the offering quickly grow in popularity among onchain traders.

Gains Network is known for its gTrade platform, which offers a vast selection of trading pairs, including crypto, forex, and commodities, powered by their decentralized oracle network. Gains Network’s unique approach to perpetual futures provides traders with access to up to 150x leverage on a growing list of nearly 200 markets.

Bolstering the Arbitrum Ecosystem

The integration of GMX and Gains Network into Kwenta's perpetuals marketplace is set to drive growth in the onchain perpetuals space by enabling users to easily access advanced DeFi products through Kwenta's user-friendly UX layer. While retail-focused applications have made significant advancements in allowing users to quickly obtain the best prices for token swaps and bridging, onchain leverage has remained a complex product catered towards more sophisticated DeFi enthusiasts.

This strategic expansion brings Arbitrum's most popular derivatives trading venues under a single platform, offering 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.

The Road Ahead

Kwenta is inviting community feedback on these proposals as it works towards finalizing its perpetuals marketplace. The potential integrations with GMX and Gains Network come as Kwenta continues its mission to provide a superior decentralized trading experience. Through these developments, Kwenta aims to establish itself as 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 dedicated to developing tools that bring DeFi to everyone.

For more details, users can follow Kwenta's governance discussion channels on Discord.

Contact

press@kwenta.io

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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