The Journey

If we go back just a few short months, to the end of 2021, we can remember the first Kwenta trading competition, with an Optimism regensis interrupting the competition, a faucet that was flakey at best, and a UI/UX that was still in its infancy. Forward just one short year, and Kwenta is on the bleeding edge of decentralized infrastructure with a product and DAO to match.

During the competition, traders placed over 3,137 trades, generating $23,250,746.32 in volume and the KwentaDAO distributed a respectable 1% of the initial supply (3133.73 $KWENTA) and an additional 100,000 in $OP tokens.

If you missed this competition, don’t worry. The next few months at Kwenta will be packed, and full of new releases, new asset listings, more competitions, prizes, and incentives! Keep an eye on our Discord announcements channel and our Twitter so you don’t miss a beat.

$OP & $KWENTA rewards have been distributed directly to participants ETH address.

Winners

We'd like to congratulate the top traders in their tiers, in both round 1 and round 2. Landing a spot in the top wasn’t the only way to earn $KWENTA during these 2 weeks of trading mayhem. A complete list of addresses eligible for a prize that participated visit the public spreadsheet.The winners are as follows:

Round #1 Bronze

1. 0x547056fce2e08ed24feac022fbdcb23a8942bc81 - 11 $KWENTA

2. 0x4977c1b189e23efac9bade4df7e2582676fe78e3 - 9 $KWENTA

3. 0xb6bbe5a785f6cfed3f65f2ba91ad20586b00f7e6 - 6 $KWENTA

4. 0xde8f8849579f06a30c0dd3ae3d5408ebdaaabcf7 - 4 $KWENTA

5. 0xb00c87277ff7535ea66e28b8ef573eb73ec376f1 - 3 $KWENTA

Round #2 Bronze

1. 0x4592d3be8c39ab5228b59572dd25898435d8f0d7 - 26 $KWENTA

2. 0x6aa91a17f36efc0aff5a262d4771d8ec4c4f1114 - 21 $KWENTA

3. 0xee04653f75cfd8801eea09eab092652fe28765b3 - 16 $KWENTA

4. 0x57ff793903f3a85e08a5e261abaf942857f29605 - 11 $KWENTA

5. 0x54b4beb196d353798a19581ad5cb0c7c0b241234 - 6 $KWENTA

Round #1 Silver

1. 0x8f804dec80028cb5bbc5537762b27629a4ab6c94 - 26 $KWENTA

2. 0xd9d455a8b8b9aeda2da66c52b80c90ef423409df - 21 $KWENTA

3. 0x875b564fbe481cb84c2dab94daa0f45abfe52911 - 16 $KWENTA

4. 0xa59a3418a459ebeecad43b4c6b9322c626bf8486 - 13 $KWENTA

5. 0xfc32260a554556417e2ddd7b5872566905d2d482 - 11 $KWENTA

Round #2 Silver

1. 0xe18d3b075a241379d77fffe01ed1317dda0e8bac - 101 $KWENTA

2. 0xe6945ed413f233e248bcdf2a5af249b6af7cd58c - 76 $KWENTA

3. 0x25554a80781ee62414c3747e81c3f50157c634b1 - 51 $KWENTA

4. 0x4c715a3e745d637c16b58b25cafbecf94b33282c - 36 $KWENTA

5. 0xb33ec630d0b48b96a50b754ec98f6723417144f5 - 26 $KWENTA

Round #1 Gold

1. 0x7fd8a3e656c90a0e3cd703e4ba46aa4c9d9e84fb - 51 $KWENTA

2. 0xac60410e7be09241f08643d9ce51570137e57683 - 41 $KWENTA

3. 0xd98b0f8a15eab299d0acca03f24ed0abb24dd5ec - 36 $KWENTA

4. 0x0be55326919f08af4d14a42aafb3b68f95738355 - 30 $KWENTA

5. 0xc8c2b727d864cc75199f5118f0943d2087fb543b - 26 $KWENTA

Round #2 Gold

1. 0xfcf325ccc3cd124efe1aa8cff362e3f74fded64a - 201 $KWENTA

2. 0x22866c5c7f2b5475cff41465c53aa813b4c22b13 - 176 $KWENTA

3. 0xb8d08d9537fc8e5624c298302137c5b5ce2f301d - 151 $KWENTA

4. 0xabd02edfbff25a307a5c7d827eb58c2037da9453 - 261 $KWENTA

5. 0x7fd8a3e656c90a0e3cd703e4ba46aa4c9d9e84fb - 101 $KWENTA

Kwenta disqualified any addresses from the competition that displayed malicious intent.

How will winners receive their prizes?

Winners will have their prizes sent to the same address used during the competition. There will be no need to claim your prizes, so do not respond to any messages instructing you to send a transaction or personal information to claim your prizes. Simply sit back and watch your wallet.

$KWENTA rewards have been distributed as escrowed KWENTA, and can be staked on the Kwenta staking dashboard. Note: escrowed Kwenta vests over 1-year as outline in KIP-34.

Perps V2 & Lower Fees

It’s important to note that Synthetix Perps has been in beta since its release.The most notable limitations are capital inefficiency (restrictive open interest limits), funding rate volatility, and high fees / wide spreads.The above noted short comings will soon be a relic of the past. Utilizing a new off-chain oracle system we will gain: decrease latency and trading fees, an adjusted and competitive funding rate mechanism.

Conclusion

This was a fantastic experience for the Kwenta community and we appreciate everyone who joined the community in the process. We hope everyone enjoys their $KWENTA & $OP prizes. Keep an eye out for the next competition, coming soon!

Join the Kwenta Community

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To trade synthetic assets and futures, visit Kwenta.