Overview

What’s New in Perps v3?

Kwenta and Synthetix have spent the last several months working side by side on an upgraded perps trading experience built on the new Synthetix v3 architecture.

Here's what's new things:

• Native Cross-Margin: This feature provides traders with the ability to use their entire portfolio as collateral, enhancing trading efficiency and risk management.

• Better Pricing: New in Perps v3, the price at the moment of order commitment—when you submit your order—is the price at which your trade is executed. This upgrade eliminates the frustration of price slippage due to execution delays.

• Failed order Replacements: Orders that fail to execute will no longer need to be "canceled", once failed traders can simply place another, which replaces the failed trade automatically.

• Redesigned UX: Perps v3 introduces significantly improves to navigation, trading flows, and data presentation. This comprehensive overhaul focuses on intuitiveness and efficiency, ensuring that both novice and experienced traders can leverage the platform's capabilities to their fullest

What’s Under the Hood?

• NFT Accounts: A novel approach to account management, NFT accounts in Perps v3 offer a more flexible and user-friendly way to manage trading activities.

• Supermarkets: Supermarkets are the core risk management tool which allows Kwenta to offer native cross margin without limiting the breadth of market offerings. Each “Supermarket” contains one or more perps markets which share collateral.

• Smart Margin V3: Smart Margin v3 (SMv3) continues the legacy of its predecessors, aiming to elevate the trading experience on Kwenta by offering advanced tools for trading Synthetix derivatives.

What's Coming Next?

Synthetix Exchange is just getting started on Arbitrum. In the coming months, users can expect even more features and improvements.

Hybrid Orderbook System

The much-anticipated orderbook will operate alongside the existing AMM model, providing traders with more control over their orders, better price discovery, and reduced slippage. Chainlink Data Streams: Low-latency oracles from Chainlink will improve the speed and accuracy of price feeds, enhancing the performance of Synthetix markets.

Additional Margin Assets

As Synthetix expands its multicollateral system, more assets like stablecoins, governance tokens, and other ERC-20s will be added as margin options. Stay tuned for these updates as Kwenta continues to evolve its platform with even more tools to empower traders.