Perennial unveils new intent layer for Perpetuals

admin21 hours ago

December 3, 2024, New York, USA, Chainwire

Perennial has announced its launch. eternal intentionis a unique intent layer for the perpetual future designed to unify DeFi’s fragmented liquidity landscape and provide a centralized exchange trading experience on-chain. Perennial Intents is providing deeper markets, better pricing, and an integrated trading experience to advance DeFi by securing liquidity in on-chain and off-chain venues.

Solving DeFi’s Liquidity Fragmentation Problem

“Perennial Intents has arrived at a pivotal time for DeFi,” said Kevin Britz, founder of Perennial. “Despite growth, only a fraction of cryptocurrency order flow occurs on-chain, and most of it is fragmented across hundreds of L1s and L2s. With the emergence of AppChain and isolated AMMs, there are more than 100 chains with DeFiLlama (TVL) of more than $10 million, with each chain operating its own isolated financial ecosystem. This fragmented liquidity worsens trade execution by increasing costs, increasing slippage, and limiting leverage opportunities.”

According to the team, Perennial Intents solves these problems by consolidating order flows into a unified liquidity layer. Rather than splitting liquidity into silos like app chains or AMM pools, intent-based trading integrates order flow from multiple venues, creating a more cohesive and efficient system.

A Hybrid Model for the Future of DeFi

Intents are not new to DeFi, but eternal intention We introduce a layered model that combines intent-based off-chain order matching and on-chain AMM settlement. Perennial claims that this model simplifies trading by combining intent-based order matching and on-chain AMM settlement. The team argues that this hybrid approach can open deeper markets and increase efficiency by ensuring optimal price execution for traders while allowing solvers to dynamically manage liquidity without long-term collateral constraints.

One-click deals and perennial petal programs

In addition to Perennial Intents, this launch includes two additional upgrades: one-click transactions and the Perennial Petals points program. Traders can now enjoy seamless trading with a single collateral account, and the Petals program rewards users with points for their trading activity, with 2x points available during the initial launch period.

The Arbitrum team shared their excitement about the launch, highlighting the innovative potential of intent-based derivatives. “Perennial’s intent-based derivatives work is transforming DeFi by aligning market interactions with users’ specific goals,” said Peter Haymond, senior partnerships manager at Offchain Labs. “This approach allows users to define their desired financial outcomes, enabling more efficient and personalized trading on Arbitrum.”

Perennial Introduction

Perennial is a DeFi native derivatives primitive designed to serve as a liquidity backbone for DeFi. Backed by leading investors including Polychain, Variant, and Archetype, Perennial has facilitated over $2.8 billion in trading volume. The growing ecosystem includes integrations with major trading interfaces such as Kwenta, Siren, Rage Trade, and Cryptex Finance.

For more information about Perennial Intents, visit their website or join their community on Discord.