Kwenta Exchange ReviewKWENTA

Current Price

$ 37.76

24 hour change: -4.81%

24 hour high: $40.73

24 hour low: $37.75

24 hour volume: $60,269

Rank 981
Circulating Supply: 532,375
Total Supply: 797,714
Market Cap: $20,312,895
Diluted Market Cap: $30,436,946
All Time High $790.99
All Time High Date 14 Mar 2023
All Time Low $37.75
All Time Low Date 24 Jun 2024

Kwenta Chart

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Choose the desired time frame and chart style to view the Kwenta token price chart. You can switch between different time intervals and select either a line graph or candlestick representation for analyzing price trends.

Kwenta  Top Markets

Here are some of the most actively traded Kwenta pairs across various cryptocurrency markets, excluding data from Coinbase and Kraken:

Kwenta Markets

These trading pairs represent the popular markets where Kwenta is actively traded against other cryptocurrencies or fiat currencies. By exploring these trading pairs on different exchanges, you can engage in Kwenta trading and analyze price movements in the broader cryptocurrency ecosystem.

Kwenta Decentralized Perpetuals and Options Contracts Exchange

Kwenta is a decentralized perpetual and options contract trading platform built upon Optimism. Compared to other defi crypto exchanges, Kwenta operates in quite a unique way. This is because Kwenta is one of the first multiplexer exchanges. But in a less ambitious form compared to the Mux protocol.

How is Kwenta a multiplexer exchange? Well, it is not; but there is a parallel:

  1. Kwenta operates perpetual trading using the Synthetix Network with all settlements in USD.
  2. Kwenta operates options trading using Lyra Network with all settlements in USD.

By tapping into Synthetix and Lyra liquidity, Kwenta can offer one of the largest pools of tradable assets in leveraged decentralized finance without the slow grind of LP pool accumulation.

Setting up on Kwenta

Kwenta runs on Ethereum’s Optimism L2 and exclusively denominates trades in Synthetix’s sUSD stablecoin.

To interact with Kwenta, you will use a decentralized wallet like Metamask on the Optimism chain.

This will require you to deposit or bridge assets to the Optimism chain you plan to utilize. You can do this by depositing directly to your Optimism wallet from an exchange like Coinbase or bridging assets from one chain to the Optimism chain.

Upon funding your Metamask wallet, you must convert funds to sUSD if you are not already natively sUSD. To do this, use the exchange directly on Kwenta.

Now, you have liquid sUSD, and you are ready to transact.

How to decentralized perpetual trade on Kwenta

Trading perpetual contracts or ‘futures’ on Kwenta is easy. Proceed to the Kwenta app and click the futures menu title.

You can select your desired trading pair, size, and leverage from here.

With these inputs entered, Kwenta will estimate below the liquidation price, fill price, price impact, and fees associated with the position entry.

How to decentralized options trade on Kwenta

To trade options contracts on Kwenta Exchange, proceed to the options menu title, which will direct you to the separate options trading site for Kwenta.

This section of the Kwenta Exchange is dedicated to trading options utilizing the Lyra Network with finality in Synthetix sUSD.

Now, you will proceed to select:

  1. Option Currency (BTC/ETH)
  2. Buy or Sell Option
  3. Option strike price
  4. Option strike date
  5. Quantity

Upon submitting your order, you will see your positions on the dashboard.

When trading options on Kwenta, you are trading against other Kwenta traders and Lyra vaults.

What is the Kwenta Token?

When staked, the Kwenta Token is used for governance voting, trading rewards (paid in Kwenta), and inflationary rewards.

Interestingly, all Kwenta rewards are locked for 12 months as an NFT. After 12 months, rewards become fully available.