Perennial officially launches Perennial Intents, a new intent layer designed specifically for perpetual futures, aimed at integrating the fragmented liquidity of DeFi and offering a centralized exchange-like experience on-chain. By connecting on-chain and off-chain liquidity sources, Perennial Intents brings deeper market liquidity, superior trading prices, and an integrated trading experience, driving the growth of the DeFi industry.
Addressing the challenge of DeFi liquidity fragmentation
'The emergence of Perennial Intents comes at a critical juncture in the development of DeFi,' said Perennial founder Kevin Britz. 'Despite the continuous growth of DeFi, on-chain trading accounts for only a small portion of cryptocurrency order flow, and this liquidity is fragmented across hundreds of L1 and L2 networks. The rise of application chains and independent AMMs has led to a total locked value (DeFiLlama data) exceeding $10 million across more than 100 chains, but each has formed its own independent financial system. This fragmented liquidity presents numerous challenges for trade execution, such as increased trading costs, heightened slippage, and limited leverage opportunities.'
Perennial Intents aims to break liquidity islands by integrating order flows from different sources. Unlike application chains or AMM pools, the intent layer consolidates multi-party liquidity into a unified trading framework, creating a more efficient market.
The hybrid model for the future of DeFi
While the intent layer is not a new concept in DeFi, Perennial Intents introduces a hybrid model that combines off-chain order matching with on-chain AMM settlement. Perennial states that this model simplifies trading through intention-based off-chain order matching while ensuring efficient settlement through on-chain AMM, providing traders with optimal prices. At the same time, liquidity managers can dynamically adjust funds without long-term collateral, further enhancing market depth and efficiency.
One-click trading and Perennial Petals program
This release also brings two new features: one-click trading and the Perennial Petals rewards program. Now, users can achieve seamless trading with just one collateral account, while the Petals program rewards users for trading activity, initially offering double points.
The Arbitrum team has expressed anticipation for this release, particularly noting the transformative potential of intention-based derivatives. 'Perennial's intent derivatives fundamentally change DeFi by allowing users to define their trading goals, achieving a more efficient and personalized trading experience,' said Peter Haymond, Senior Partnerships Manager at Offchain Labs.
About Perennial
Perennial is a DeFi native derivatives protocol designed to provide a liquidity pillar for DeFi. Supported by top investors such as Polychain, Variant, and Archetype, Perennial has facilitated over $2.8 billion in trading volume. Its ecosystem is continuously expanding, closely integrating with platforms like Kwenta, Siren, Rage Trade, and Cryptex Finance.
For more information, please visit the Perennial official website or join the Discord community, or contact lucas@perennial.finance.