Hello, again, Traders
Today, we announce the addition of USDT futures markets available for leverage trading through Kwenta on Layer 2 Optimism.
Kwenta is an on-chain composable & decentralized exchange (DEX) for perpetual futures contracts, with up to 25x leverage for makers and takers. Using perpetual contracts, users can trade various crypto and non-crypto-asset derivatives.
Trading for this new market has now been enabled and is live at:
https://dev.kwenta.eth.limo/market/?asset=USDT&accountType=smart_margin
The $USDT price will be set via decentralized push-based Chainlink oracles, as well as pull-based Pyth Oracles, fees can and will vary depending on the asset, and the newest Futures Fees can be found in the order entry panel.
📝Contract Specs
USDT-PERP
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Underlying Asset: $USDT
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Open Interest (OI) Cap: 5M USDT
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Maker/Taker Fees: 0/1.5 bps
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Skew Skale: 100000
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LiquidationBufferRatio: 120 bps
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Liquidation Price: The USDT Chainlink oracle price
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The Funding Rate applies to open positions on Perpetual Futures. A positive rate means longs pay shorts, and a negative rate means shorts pay longs.
Additional Configurations:
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offchainDelayedOrderMinAge: 2 seconds
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offchainDelayedOrderMaxAge: 60 seconds
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maxFundingVelocity: 3
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maxLeverage: 50
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offchainPriceDivergence: 2.5%
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maxLiquidationDelta: maker+taker offchain fees
Listing New Markets
Synthetix provides decentralized derivatives liquidity for protocols like Kwenta. Demand, liquidity, and volatility drive the selection process for adding new Markets to Synthetix. Chainlink and Pyth must support the data feeds necessary for any proposed assets to be considered for inclusion.
Risk warning:
Cryptocurrency trading is subject to high market risk. Please make your trades cautiously.
Join the Kwenta Community
If you haven't already, join the Kwenta community on Discord.
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To trade synthetic assets and futures, visit Kwenta.