Kwenta is a decentralized trading platform on Optimism that was released in 2022 and uses the Synthetix protocol to offer real-world and on-chain synthetic assets.
Kwenta offers four main services:
- Spot exchange, which enables users to exchange tokens and synth assets in a secure and decentralized way. Users maintain full control of their assets during the exchange process, and the swapped assets are sent directly to their wallet address.
- A decentralized Perpetual Futures platform that offers up to 25x leverage, near-instant transactions, deep liquidity, and access to limit and stop market orders. It also plans to expand to real-world assets.
- Staking KWENTA tokens to earn staking rewards and voting power. Staked KWENTA gains voting power within the system and earns inflationary rewards, with additional rewards for staked wallets that have trading activity. Staking is only available on the Optimism L2 Network.
- DAO for governance.
The total supply of KWENTA token, the native token of the Kwenta used for governance and staking, is infinite. That being said, 167,346 KWENTA tokens are in circulation.
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Spot market