The Good Tech Companies - Kwenta Receives Proposals To Integrate GMX And Gains Network Into Perpetuals Marketplace

Episode Date: July 9, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/kwenta-receives-proposals-to-integrate-gmx-and-gains-network-into-perpetuals-marketplace. The lower fees and wider selection of markets available on GMX v2 allowed the offering to quickly grow in popularity with onchain traders Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #chainwire, #press-release, #crypto-exchange, #perpetual-trading, #good-company, #kwenta, #kwenta-announcement, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. GMX and Gains Network have submitted their proposals to integrate their liquidity into Kwenta’s platform. The integrations aim to enhance the trading experience for KwentA users by providing access to additional markets and liquidity. The potential integrations align with K wenta's mission to provide a superior decentralized trading experience. The integration is expected to drive growth in the onchain perpetuals space.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Quenta receives proposals to integrate GMX and Gains Network into Perpetual's marketplace by Chainwire. Grand Cayman, Cayman Islands, July 9, 2024, Chainwire, in a step forward for the derivatives ecosystem on Arbitrum, two prominent DeFi projects, GMX and Gains Network, have unveiled bids to integrate their platforms into Quenta's upcoming Perpetuals marketplace. Quenta, the leading perpetual futures exchange on Optimism, expanded its reach earlier this year by launching the base network, reflecting a larger plan to connect derivatives liquidity across multiple chains.

This announcement follows the recent approval of a grant from the Arbitrum DAO aimed at supporting Quenta's initial expansion to the Arbitrum network. Product offerings from GMX and GAINS NENETWORK GMX and GAINS Network have submitted their proposals to integrate the EURLiquidity into Quenta's platform. These integrations aim to enhance the trading experience for Quenta users by providing access to additional markets and liquidity, while taking advantage of Quenta's UX-focused roadmap, which includes allowing traders to log in with traditional Web2 credentials and sponsoring gasless transactions. GMX V2, Arbitrum's flagship perpetual futures AMM, automated market maker, built on 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 aimed at high-performance applications. The lower fees and wider selection of markets available on gmx v2 allowed the offering to quickly grow in popularity with on-chain traders. GAINS network, known for its g-trade platform, offers a wide variety of trading pairs, including cryptocurrencies, forex, and commodities, supported by their decentralized oracle network. GAINS Network's innovative approach to perpetual futures provides traders access to up to 150x leverage on a growing list of nearly 200 markets. Strengthening the Arbitrum ecosystem The integration of GMX and GAINS Network into Quenta's Perpetuals Marketplace IS expected to drive growth in the on-chain perpetuals space

by allowing users to easily access advanced DeFi products from Quenta's easy-to-use UX layer. While retail-focused applications have made huge steps forward in allowing users to quickly access the best prices for token swaps and bridging, on-chain leverage has remained a complex product for more sophisticated DeFi enthusiasts. This strategic expansion brings Arbitrum's most popular derivatives trading venues under a single platform, providing a simple and familiar experience for traders new to on-chain products. Quenta's roadmap promises to build on the SE quality of life features, allowing users to interact with multiple protocols in a single application. Looking ahead Quenta is currently inviting community

feedback on these proposals as it moves towards finalizing its perpetuals marketplace. The potential integrations with GMX and GAINS network align with Quenta's mission to provide a superior decentralized trading experience. With these developments, Quenta is aims to become a leading venue for DeFi derivatives trading on Arbitrum. About Quenta Quenta is an on-chain derivatives marketplace on Optimism, Base, and Arbitrum. The platform offers easy-to-use tools to access deep liquidity and low fees in chain, while users retain full custody of their funds. With over $50 billion in trading volume through its community-governed platform, Quenta is committed to developing tools that bring DeFi to everyone. For more details,

users can follow Quenta's governance discussion channels on Discord. Contact Marketing DAO PM Bert Rock Quenta Info at Quenta.io. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.