[PRESS RELEASE – New York, United States, December 3rd, 2024]
Perennial announced the launch of Perennial intentionsa unique intent layer for perpetual futures, designed to unify DeFi’s fragmented liquidity landscape and deliver a centralized on-chain exchange trading experience. By sourcing liquidity from on-chain and off-chain venues, Perennial Intents offers deeper markets, better pricing, and a unified trading experience designed to advance DeFi.
Addressing DeFi Liquidity Fragmentation
“Perennial Intents comes at a crucial time for DeFi,” said Kevin Britz, founder of Perennial. “Despite its growth, only a fraction of cryptocurrency order flow occurs on-chain, most of which is fragmented across hundreds of L1s and L2s. The rise of app chains and isolated MMAs has led to over 100 chains with over $10 million in TVL (DeFiLlama), each operating its own isolated financial ecosystem. “This fragmented liquidity leads to worse trade execution, with higher costs, greater slippage, and limited leverage opportunities.”
According to the team, Perennial Intents addresses these challenges by consolidating order flow into a unified liquidity layer. Instead of fragmenting liquidity into silos like app chains or AMM pools, intent-based trading integrates order flow across multiple places, creating a more cohesive and efficient system.
A hybrid model for the future of DeFi
Although the intentions are not new for DeFi, Perennial intentions introduce a layered model that combines intent-based off-chain order matching with on-chain AMM settlement. Perennial claims that this model streamlines trading by combining intent-based order matching with on-chain AMM settlement. The team says this hybrid approach ensures optimal price execution for traders while allowing solvers to dynamically manage liquidity without long-term collateral constraints, unlocking deeper markets and greater efficiency.
One-Click Trading and Perennial Petal Program
In addition to Perennial Intents, the launch includes two additional updates: one-click commerce and the Perennial Petals points program. Traders can now enjoy seamless trading with a single escrow account, while the Petals program rewards users with points for their trading activity, with double the points available during the initial launch period.
The Arbitrum team shared their excitement about the launch and highlighted the transformative potential of intent-based derivatives. “Perennial’s work with intent-based derivatives 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 the financial results they desire, allowing for more efficient and personalized trading at Arbitrum.”
About perennial
Perennial is a native DeFi 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. Its growing ecosystem includes integrations with prominent trading interfaces like Account, Siren, Rage Tradeand Crypto Finance.
To learn more about Perennial Intents, users can visit their website or join the community at Discord.
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