New York, United States, December 3rd, 2024, Chainwire
Perennial, the trailblazing force in the world of decentralized finance (DeFi), has just unveiled a groundbreaking innovation that is set to revolutionize the way we trade perpetual futures. Enter Perennial Intents, a cutting-edge intents layer that promises to transcend the fragmented liquidity landscape of DeFi and usher in a new era of centralized exchange trading on the blockchain.
Breaking Down DeFi’s Liquidity Fragmentation
In the words of Kevin Britz, the visionary Founder of Perennial, “Perennial Intents arrive at a pivotal time for DeFi.” Despite the exponential growth of the DeFi sector, a mere fraction of crypto’s order flow transpires on-chain, with the majority scattered across a multitude of Layer 1s and Layer 2s. The emergence of appchains and isolated Automated Market Makers (AMMs) has spawned over 100 chains boasting $10 million or more in Total Value Locked (TVL), each nurturing its own secluded financial ecosystem. This fragmented liquidity has paved the way for subpar trade execution marked by inflated costs, heightened slippage, and restricted leverage opportunities.
Perennial Intents confronts these challenges head-on by consolidating order flow into a unified liquidity layer. Instead of dispersing liquidity into fragmented silos like appchains or AMM pools, this intent-based trading approach seamlessly integrates order flow across various venues, fostering a more cohesive and efficient system.
A Hybrid Model Paving the Path for DeFi’s Future
While intents themselves are not a novel concept in DeFi, Perennial Intents introduces a sophisticated layered model that harmonizes intent-based off-chain order matching with on-chain AMM settlement. This innovative approach seamlessly pairs intent-based order matching with on-chain AMM settlement, ensuring optimal price execution for traders while empowering solvers to dynamically manage liquidity without enduring long-term collateral constraints. The end result? Deeper markets and enhanced efficiency.
Seamless Trading and the Perennial Petals Program
In tandem with the launch of Perennial Intents, two additional upgrades have been rolled out: one-click trading and the Perennial Petals points program. Traders can now relish in the convenience of seamless trading with a single collateral account, while the Petals program rewards users with points for their trading activity, with a special 2x points promotion during the initial launch phase.
The team at Arbitrum has expressed their enthusiasm for the launch, underscoring the transformative potential of intent-based derivatives. According to Peter Haymond, the esteemed Senior Partnerships Manager at Offchain Labs, “Perennial’s work with intent-based derivatives is reshaping DeFi by aligning market interactions with users’ specific objectives. This approach enables users to define their desired financial outcomes, fostering more efficient and personalized trading experiences on Arbitrum.”
About Perennial
Perennial stands as a DeFi-native derivatives primitive that serves as the liquidity backbone for the entire DeFi ecosystem. Backed by a consortium of premier investors such as Polychain, Variant, and Archetype, Perennial has facilitated over $2.8 billion in trading volume to date. Its expanding ecosystem includes integrations with leading trading interfaces like Kwenta, Siren, Rage Trade, and Cryptex Finance.
For further insights on Perennial Intents, interested parties can visit the official website or engage with the vibrant community on Discord.
Contact
Head of Marketing: Lucas Terry
Perennial: lucas@perennial.finance
Original article published on Chainwire
Stay tuned for more groundbreaking updates in the world of DeFi!