Grand Cayman, Cayman Islands, July 26th, 2024, Chainwire

Kwenta, the leading onchain perpetuals exchange on the Optimism network, has partnered with Perennial to launch a new joint product and incentive program on the Arbitrum network. This initiative, backed by a substantial 1.9 million ARB grant, aims to attract new users and liquidity providers to Arbitrum and spark renewed interest in onchain perpetuals trading.

Kwenta and Perennial’s Expansion Strategy

Kwenta, known for being a UX layer for perps trading on Optimism and Base, is expanding its reach to Arbitrum in a bid to build a comprehensive marketplace for onchain perpetuals. This move is facilitated by Perennial V2, an Arbitrum-native protocol designed to be a hyper-efficient liquidity layer for derivatives trading. The joint initiative is designed to revitalize the popular AMM model for leveraged trading by providing traders with a powerful, familiar interface to interact with smart contract liquidity.

Perennial’s vision is to create a single, global liquidity layer where all markets, all chains, and all liquidity converge into one decentralized nexus. By integrating Kwenta’s premier trading interface with Perennial’s advanced perps infrastructure, users on Arbitrum will benefit from an optimized trading experience. Trade orders on selected Kwenta markets will be seamlessly routed through Perennial, ensuring efficiency and reliability. This collaboration combines Kwenta’s top-tier trading platform with Perennial’s hyper-efficient trading infrastructure, delivering the best possible experience for traders.

Incentive Program Details

The newly launched incentive program focuses on two main areas:

• Trading Rebates: Active traders will benefit from substantial fee rebates, making it more cost-effective to trade on the platform. This initiative is expected to drive trading volume and retain users.
• Liquidity Boosting: Liquidity providers will receive incentives to supply liquidity, ensuring deep and efficient markets. 

For more details on how to potentially earn rewards, users can visit Kwenta’s Rewards Blog for trading rewards details, or visit Perennial’s Discord server for information about rewards for providing liquidity.

Team Insights

Burt Rock, Marketing Lead at Kwenta, highlighted how far onchain perps have come, stating, “We’ve seen a lot of new perpetuals markets focused on improving the user experience, but most are making huge sacrifices in terms of decentralization. We want to show people you really can build decentralized apps which are incredible to use, and even better than offchain versions.”

Kevin Britz, CEO & Co-Founder at Perennial, added, “Kwenta has been a market leader in the perp vertical, regularly pushing over $100M in OI. We’re excited to welcome them to our home on Arbitrum and expand the number of teams leveraging Perennial infrastructure. In a saturated perps landscape, combining our protocol with Kwenta’s interface will lead to increased volume, deeper liquidity, and a CEX-level user experience.”

Future Outlook

The introduction of this incentive program represents a crucial step in the evolution of Kwenta and Perennial. With Kwenta concentrating on the UX and frontend aspects of trading and Perennial focusing on providing a robust liquidity layer, the collaboration is set to offer a decentralized trading experience that is both highly efficient and user-friendly. This model of specialization showcases how projects can synergize to deliver superior services in the DeFi space. The combined expertise of Kwenta and Perennial promises to elevate the standard of onchain perpetuals trading, making it more accessible and appealing to a wider audience.

For more information, users can visit Kwenta’s website and Perennial’s website. Users can also read Perennial’s launch announcement for additional details.

About Kwenta and Perennial

Kwenta: As a leading platform for derivatives trading, Kwenta has facilitated over $50 billion in volume on Optimism and Base. The platform is expanding to Arbitrum to launch its perpetuals marketplace, a single app to compare and trade on multiple onchain venues.

Perennial: Perennial is a pioneering DeFi liquidity layer that offers hyper-efficient infrastructure for a variety of trading applications. Its modular and efficient design supports customized markets, leveraging fast execution and capital efficiency to power DeFi apps.

Contacts

Burt Rock
Kwenta
burt@kwenta.io
Lucas Terry
Perennial
lucas@perennial.finance

San Francisco, California, July 24th, 2024, Chainwire

ETZ is transforming retirement planning by making digital assets available to retirees

ETZ, a premier service designed to simplify and enhance digital asset investing in retirement accounts, announced that it would offer SUI, the utility token powering Sui, a high-performance Layer 1 blockchain and smart contract platform, as an investment option integration for holders of its IRAs. ETZ now operates seamlessly with the Sui Network, which means that the SUI token can officially be held as an asset in a Tax-Advantaged Traditional or Roth IRAs, offering an unparalleled solution for investors looking to diversify their retirement portfolios while maintaining all of the tax advantages of keeping their assets in such a fund.

ETZ employs a regulated, state-chartered trust company to hold self-directed IRAs and custody of assets, ensuring a secure and compliant investment environment while facilitating rollovers of IRAs and 401(k)s. Furthermore, ETZ is insured up to $320M, provides institutional-grade asset security, and FDIC insurance on cash balances, providing peace of mind to investors. It also offers digital asset access through a tax-advantaged SEP IRA to help companies attract top talent by providing a more modern and diverse retirement platform as a benefit.

“At ETZ, we believe that increasing access to digital assets for every employee will transform employer incentive plans,” said Jiazi Guo, CEO of ETZ. “Sui’s meteoric rise in the blockchain space, backed by its unparalleled technology, underscores why we are so excited to offer our users the option to add Sui to their portfolios”

“ETZ has done an immense amount of work breaking down barriers to open up a new category of options to real people looking to secure a financial future for themselves and their families,” said Gap Kim, Head of Marketing for the Sui Foundation. “With the unique tooling and products that ETZ has engineered, these retirees now have access to a suite of products that will enable them to diversify their holdings and take advantage of the latest generation of financial innovation.”

ETZ’s integration with Sui is now live and investors can benefit from 24/7 access to their investments with the support of dedicated representatives, advanced security measures, and streamlined tax reporting. 

For more information about ETZ, users can visit https://etzsoft.com/. For more information about Sui, users can visit https://sui.io.

Contact

ETZ, Inc.
samuel@etzsoft.com

Singapore, Singapore, July 23rd, 2024, Chainwire

A groundbreaking moment in decentralized finance (DeFi) is here as Magnify Cash unveils its state-of-the-art DeFi protocol and announces the upcoming Fair Launch of its native token, $MAG. As a pioneer in financial technology, Magnify Cash is set to reshape the financial services landscape for individuals and enterprises alike.

The Future of Decentralized Credit Markets

Magnify Cash is spearheading the next evolution in decentralized credit markets, unlocking liquidity for Real-World Assets (RWAs), Future Yield Tokens (FYTs), and a myriad of digital assets through its innovative, permissionless lending desks.

Solving Key Financial Challenges

• Limited Liquidity: Bridging the gap for diverse digital assets.
• Decentralization: Eliminating centralized and custodial lending limitations.

Innovative Products and Solutions

• Permissionless Lending Desks: Facilitate borrowing and lending for any ERC-20 token against RWAs, FYTs, and other digital assets.
• Decentralized Borrowing Options: Provide lending solutions without intermediaries, ensuring maximum security and transparency.

Universal Collateral and Currency Support

Magnify Cash’s Universal Collateral Acceptance feature supports an extensive array of tokenized assets, including ERC-1155 and ERC-721 tokens. Users can now leverage NFTs and tokenized real-world assets such as art, real estate, bonds, and luxury goods as collateral, unlocking liquidity without the need to liquidate these valuable assets.

Key Features

• Comprehensive Support: Universal support for lending currencies and loan collateral (ERC-20, ERC-1155, ERC-721).
• Seamless Operations: Asset-backed borrowing and lending with permissionless creation and management of lending desks.
• Enhanced Liquidity: Extensive liquidity options for all digital assets, including stablecoins, ETH, liquid staking tokens (LSTs), meme tokens, blue chip NFTs, and treasuries.
• Advanced Risk Management: A dynamic interest rate model utilizing linear interpolation and scaling factors, eliminating the need for oracles.

Robust Security and Compliance

• Guardian Protocol Audit: Ensuring top-notch security.
• Gaslite Gas Optimization Audit: Maximizing operational efficiency.

Proven Testnet Success

• Over 500 lending desks created.
• More than 500 loans issued.
• Nearly 5,000 unique users engaged.

Strategic Alliances and Future Roadmap

Magnify Cash collaborates with leading industry partners like LydianLabs, FjordFoundry, Jiraiya, Tailored, Blaize, 4am, and H3AT Studios, amplifying the platform’s capabilities and outreach. Key security audits by Guardian Protocol and Gaslite reinforce Magnify Cash’s commitment to providing a secure and reliable platform.

Currently Live on

• Base Testnet

Exciting Upcoming Launches

• Base Mainnet: Coming Soon (Including RWAs)
• Ethereum Mainnet: Coming Soon (Including RWAs)
• Potential Layer 2 launches: Abstract Chain, Blast Chain, and more.

Fair Launch of $MAG Token

The $MAG token will be launched through Fjord Foundry’s liquidity bootstrapping protocol, ensuring a fair and transparent distribution. The token sale runs from July 23rd, 8:00 PM EST to July 27th, 8:00 AM EST, with over 70% of tokens allocated to the public. This equitable approach encourages broad participation and fosters a strong, engaged community. Active participants, including lenders, liquidity providers, and borrowers, are rewarded with $MAG tokens.

Participation Opportunities

Secure $MAG Tokens: The MAG token sale begins on July 23rd at 8:00 PM EST (July 24th, 8:00 AM Singapore Time). Participants are invited to join the Fair Launch at Fjord Foundry here.

Explore the Ecosystem: Magnify Cash invites interested parties to discover its comprehensive ecosystem by visiting the Website. Access the Pitch Deck, engaging Intro Video, detailed Whitepaper, and technical Documentation.

Engage with Our Community: Magnify Cash encourages joining its vibrant community for real-time updates and support. Follow us on Twitter, join the Telegram group, and participate in discussions on Discord.

About Magnify Cash

Magnify Cash is a non-custodial and permissionless decentralized credit market that empowers users to lend ERC-20 tokens and borrow against non-fungible tokens (NFTs) and Real-World Assets (RWAs) with unmatched flexibility and transparency. Committed to true decentralization, Magnify Cash ensures universal support for ERC-20 tokens as lending currencies and ERC-1155/ERC-721 assets as collateral. The protocol’s innovative approach to on-chain credit markets offers a fresh perspective in the evolving world of decentralized finance.

For more information, users can visit https://Magnify.Cash or follow Magnify Cash on Twitter at X.com/MagnifyCash.

Magnify Media Kit: Link.

Contact

Press Manager
Magnify.Cash
socials@magnify.cash

Grand Cayman, Cayman Islands, July 23rd, 2024, Chainwire

Sui joins an exclusive list of AWS-integrated blockchains

Sui Foundation, the organization dedicated to the advancement and adoption of the layer 1 blockchain of the same name, today announced the integration of Amazon Web Service’s (AWS) Blockchain Node Runners on Sui, providing developers with a self-managed node deployment solution. 

Through this integration, builders on Sui will be able to easily set up and deploy Sui full nodes within the AWS environment, benefitting from the high availability, scalability, and reliability of AWS’s robust cloud infrastructure. AWS Blockchain Node Runners simplifies the process of running blockchain nodes, allowing users to easily deploy, scale, manage, and monitor secure blockchain nodes. As of today, Navi, a leading liquidity protocol, will be engaged as a Node Runner user to deploy full nodes on Sui. 

Kathryn Van Nuys, Global Head of Startups in Specialized Segments at AWS, said, “AWS Blockchain Node Runners was designed to support builders at all stages of the application lifecycle, offering blueprints to meet specific requirements, from enhanced security and compliance to ease of deployment and monitoring. We are excited to bring these and other features to empower developers to deploy and manage Sui nodes on the AWS cloud.”

Node Runners offers several key technical advantages for deploying blockchain nodes. It provides validated, best-practice deployment templates for scalable node operations across multiple geographies. High availability is ensured through multi-node deployment options across different availability zones. The deployment code is fully open-source and available on GitHub, allowing users to review it before deployment. Integrated with the AWS Well-Architected Framework, Node Runners helps organizations build secure, high-performing, resilient, and efficient node infrastructures. Full nodes on Sui validate on-chain activities such as transactions, checkpoints, and epoch changes, as well as store the stake and history to better service client queries. By offloading query servicing from validator nodes, validators are able to focus on transaction processing and updates to the nodes when new transactions are completed. 

Navi, a leading liquidity on Sui, is one of the first users to engage with Node Runners on Sui, and have deployed their first node via AWS’s service as of today. 

As part of AWS and Sui Foundation’s commitment to empowering Sui builders, developers and startups who utilize AWS Blockchain Node Runners or are building on Sui may be eligible for up to $5,000 in Activate credits. Sui Foundation has also joined the AWS Web3 Provider program, which offers access to tools, resources, content, and credits to Sui developers

Henrik Johansson, Global Head of Community at Sui Foundation, said, “The integration of AWS Node Runners on Sui marks a pivotal advancement to enhancing blockchain infrastructure. Sui nodes are fundamental to the operation and accessibility of Sui. This integration with AWS not only provides developers with more tools to simplify node deployment but also financial support to utilize and develop on AWS.”

For more information on utilizing AWS Blockchain Node Runners on Sui, users can visit https://aws-samples.github.io/aws-blockchain-node-runners/docs/Blueprints/Sui.

Contact

Sui Foundation
media@sui.io