What is Kwenta (KWENTA)?
👋 New to this? Just start reading at the top — it begins in plain English and gets more detailed as you scroll. Jump to any level:
🟢 The simple version
Plain English — no jargon. Start here.
Kwenta is a professional perpetual futures trading interface on Optimism and Base built on Synthetix's liquidity layer — Kwenta provides the UI, Synthetix SNX stakers provide the liquidity — with ~313,000 KWENTA (YFI-inspired scarcity) sharing trading fees with stakers.
Frontend on Synthetix
Kwenta is a frontend-only protocol: it owns no liquidity. All perpetual positions are backed by SNX stakers on Synthetix. Oracle-based pricing means trades execute at oracle prices with no slippage for supported pairs. Up to 50x leverage on ETH, BTC, SOL, and dozens more. ~313K KWENTA (very low supply, modeled on YFI scarcity). Fee sharing to KWENTA stakers. Optimism + Base. Is KWENTA legal in India? Yes. 30% tax, 1% TDS apply.
🟡 A bit more detail
For when you want to go a little deeper.
KWENTA vs dYdX vs Hyperliquid
Kwenta: Synthetix oracle pricing (no slippage), Optimism/Base. dYdX v4: own Cosmos chain, orderbook. Hyperliquid: ultra-fast app-chain, largest perp DEX by volume. Kwenta's Synthetix integration enables unique composability (options + perps + cross-margin) but is constrained by Synthetix's open interest caps.
🟣 The full technical picture
For the technically curious.
Key facts
- Token: KWENTA (~313K, very scarce)
- Product: Perps UI on Synthetix
- Chains: Optimism + Base
- Pricing: Oracle-based (no slippage)