Kwenta will open trading for the sETHBTC trading pair*
*Initially only on L1 Mainnet Ethereum

The Synthetix community voted in favor on a proposal to add a price feed to the Synthetix Protocol. The sETHBTC trading pair is now live on the Kwenta mainnet Ethereum dApp.

New sETHBTC Synth

sETHBTC will function like any other synth, with one exception being that since price is a ratio between two assets the price derives from multiple Chainlink feeds (ETH:USD and BTC:USD) Ex: If Bitcoin = $50,000 and Ethereum = $5,000 the ratio is .1

By trading this ratio traders take advantage of changes between ETH and BTC price correlations when it deviates from the mean. The ETH vs BTC ratio sways often and is a tool traders take advantage of to capture profits.
The exchange fee for sETHBTC will be set to 30bp.

Synthetix provides decentralized derivatives liquidity for Protocols. The selection process for adding new Synths to Synthetix is driven by demand from the community, its liquidity and volatility. Chainlink, must support the data feeds necessary for any proposed assets.

Get Started

To start trading with Synths, visit Kwenta and connect a supported wallet.

If you haven't already, join the Kwenta community on Discord.

To be the first to learn about new updates to Kwenta, follow us on Twitter.