Perennial officially launches Perennial Intents, a brand new intent layer designed specifically for perpetual futures, aimed at integrating DeFi's fragmented liquidity and providing 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 development of the DeFi industry.
Addressing the Challenges of DeFi Liquidity Fragmentation
The emergence of Perennial Intents comes at a critical juncture for DeFi, said Perennial founder Kevin Britz. 'Despite the continuous growth of DeFi, on-chain transactions account 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 of over $10 million across more than 100 chains (DeFiLlama data), but they have formed independent financial systems. This fragmented liquidity brings numerous issues to trade execution, such as increased transaction costs, exacerbated 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 to create a more efficient market.
The Hybrid Model of DeFi's Future
Although 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 intent-based off-chain order matching while ensuring efficient settlement through on-chain AMMs, thereby 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 with double points initially.
The Arbitrum team expressed anticipation for this release, particularly pointing out the enormous transformative potential of intent-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 aimed at providing a liquidity pillar for DeFi. With support from top investors like Polychain, Variant, and Archetype, Perennial has facilitated over $2.8 billion in trading volume. Its ecosystem is continuously expanding, closely integrated with platforms such as Kwenta, Siren, Rage Trade, and Cryptex Finance.
For more information, visit the Perennial official website or join the Discord community, or contact lucas@perennial.finance.