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KWENTA


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PROPOSALS


New proposal

0x0c4E...F0cB
Core

Active


KIP-124: GAUNTLET PARTNERSHIP

Summary Kwenta DAO will enter partnership with Gauntlet to perform risk analysis
and ongoing parameter tuning for Quanto Perps. Abstract Quanto Perps introduces
a lot of parameter surface area that will need to be actively be managed by the
council, CCs, and community. Gauntlet has years of experience in DeFi risk
management and specialties in onchain perpetual futures parameter tuning.
Gauntlet will aid the council in recommendations and active changes for live
system parameters. The partnership with Gauntlet will be an engagement term over
1 year. Motivation With the increased complexities and subsequent risks of
building out an in-house protocol, it's important to service ongoing monitoring
of risk and adjust parameters accordingly. Quanto Perps will introduce a wide
set of parameters that will need to be managed. For example, parameters like
open interest caps, liquidation parameters (buffer, fee ratio, margin), maker &
taker fees, funding velocity, and skew scale are all levers that need to be
actively managed to balance a strong trading experience with a system protected
from tail risk. Acting too aggressively puts LPs at risk and acting too
conservatively creates a poor trading experience. The responsibility of
parameter tuning is compounded by each market added to the system where each new
asset introduces new set of risk into the equation. In order to aid this
management, engaging an experienced and qualified third party risk counsel like
Gauntlet is the ideal solution. Specification For more information, visit the:
Kwenta State Log

Ends in 7 days

0x0c4E...F0cB
Core

Closed


KIP-122: ADD FEES TO V2 PERPS

Simple Summary Introduce a nominal fee on orders through Kwenta to Synthetix v2
perpetual futures markets. Abstract Implement a 0.5bp (0.005%) fee on Synthetix
v2 perps markets transactions. Motivation With Synthetix v3 and Perennial perps
markets providing a more attractive option, Synthetix v2 perps markets will
still require funding for maintenance. This proposal suggests a small
"maintenance fee" for orders in Synthetix v2 perps markets, ensuring a
continuous, high-quality trader experience and incentivizing Kwenta to support
this older version. As Synthetix v3 and Perennial offer more lucrative
incentives (20% and 35% fee share, respectively), focusing on them benefits the
DAO. Nonetheless, a fee on v2 perps market orders will still provide value and
encourage a gradual transition to newer versions. Specification For more
information, visit the: Kwenta State Log

Pass 4 KC4E
100%

Reject 0 KC4E
0%

Ended 2 weeks ago

0x0c4E...F0cB
Core

Closed


KIP-120: ZKVIP PROGRAM

Summary Create an onchain VIP program that provides fee rebates to high volume
traders. Abstract To incentivize larger volume drivers to stick around on Kwenta
-- introduce favorable fee rebate program for traders that meet specific volume
tiers for a given month. Use ZK-coprocessing to run this rewards program fully
onchain. Motivation Most other CEXs and DEXs have some sort of loyalty program
that provides discounts to larger, recurring traders. To compete with
centralized exchange and encourage platform loyalty Kwenta needs to offer fee
rebates to high volume traders. Distribution through a VIP program can be more
effective than a flat incentives program because it entitles traders to higher
rewards as they drive more volume. There are two ways to use historical data
onchain. The first is to proactively push historical data to the chain as it's
created (aka transaction time). However, this approach requires forward thinking
(would have had to be done before the smart contract was deployed) and is also
costly to store batches of data onchain that may only be used once or twice and
replicated for each user. The second way is to aggregate and pull historical
data offchain, and use this to execute actions onchain. For example, claiming
onchain rewards using historical fees paid aggregated by a subgraph indexed
offchain. This is how Kwenta trading rewards works today. The downside of this
approach is that requires honest actors (for example Kwenta) to provide data
that hasn't been manipulated. The third, and hybrid approach, is to still
aggregate data offchain, but use recent advancements in Zero Knowledge Proofs
(ZKP). ZKPs are used to prove the underlying data hasn't been tampered with,
which then can be verified by the blockchain, and if valid, subsequent actions
can be executed. This VIP program explores a new way to do trading incentives in
a robust, transparent, permissionless way. Specification For more information,
visit the: Kwenta State Log

Pass 3 KC4E
100%

Reject 0 KC4E
0%

Ended 3 weeks ago

0x0c4E...F0cB
Core

Closed


KIP-121: LOWER CONDITIONAL ORDERS FEE

Summary Reduce the execution fee for conditional orders to 0.0003 ETH. Abstract
Given the discrepancy between the current fixed gas fee for conditional orders
at 0.002 ETH and the actual cost of executing these orders, now closer to 0.0003
ETH, we propose adjusting the fixed fee to better align with these reduced
costs. Motivation With the successful launch of EIP-4844, gas costs on Optimism
have been significantly reduced. In response, the DAO must re-calibrate the
conditional order execution fee that was established for a less efficient
network. Specification For more information, visit the: Kwenta State Log

Pass 4 KC4E
100%

Reject 0 KC4E
0%

Ended 3 weeks ago

0x0c4E...F0cB
Core

Closed


KC4E TEST VOTE

Thanks

test a 2 KC4E
66.67%

test b 1 KC4E
33.33%

Ended 3 weeks ago

0x0c4E...F0cB
Core

Closed


KIP-121: LOWER CONDITIONAL ORDERS FEE

Summary Reduce the execution fee for conditional orders to 0.0003 ETH. Abstract
Given the discrepancy between the current fixed gas fee for conditional orders
at 0.002 ETH and the actual cost of executing these orders, now closer to 0.0003
ETH, we propose adjusting the fixed fee to better align with these reduced
costs. Motivation With the successful launch of EIP-4844, gas costs on Optimism
have been significantly reduced. In response, the DAO must re-calibrate the
conditional order execution fee that was established for a less efficient
network. Specification For more information, visit the: Kwenta State Log

Pass 2 KC-NFT
100%

Reject 0 KC-NFT
0%

Ended 1 month ago