Kwenta Futures (V1) Deprecation
Guideline on the migration from Perps V1 to Perps V2
With the introduction of new markets on the updated Kwenta Futures platform (V2), Kwenta intends to gradually discontinue its support for the previous version of Futures (V1). This will result in a less favorable trading experience on the current V1 platform, including our Cross Margin system.
Kwenta strongly suggests that all current users of the V1 platform initiate the process of unwinding their existing positions on V1 and move to V2 once those assets are available on V2.
Week 1 (Jan 29th - Feb 4th)
Week 2 (Feb 5th - February 11th)
- 22 new markets launch on V2, including all available V1 markets
alpha.kwenta.eth.limowith V2 will move out of alpha and will replace the current V1 platform sitting onkwenta.eth.limo- Kwenta will offer a legacy page allowing users to continue access to the V1 markets. This page will enable users to close their positions, and withdraw their margin from isolated and cross-margin V1 markets at their earliest opportunity.
- Synthetix will begin lowering open interest caps on v1 markets, limiting new positions.
Week 3 (Feb 12th - Feb 18th)
- Synthetix will continue to lower open interest caps until the maximum open interest of all v1 markets reaches 0. This will allow users to close positions, but prevent any and all new positions from being open.
- Kwenta users will be asked to close all remaining v1 positions. Users who wish to maintain their exposure should open an equivalent position on a v2 market since transferring an open position will not be possible.
Week 4+ (February 19th until deprecation is complete)
- Remaining positions in v1 may experience higher funding rates in order to encourage migration. Synthetix may continue to adjust funding rates until all positions are closed on all v1 markets.
- Once all v1 positions have been closed, Legacy Kwenta will continue to be accessible, but will not be able to open new positions, and will not receive ongoing maintenance updates.
Prior to withdrawing from a Cross Margin account, it is imperative to terminate any pending orders and to extract both the ETH balance designated for your Keeper, as well as the sUSD balance.
Last modified 1mo ago