Categories
Cryptocurrencies

Synfutures

SynFutures (F)

SynFutures is a decentralized platform designed for trading cryptocurrency derivatives. It allows users to list and trade crypto assets without needing permission, thereby fostering open and unrestricted trading. As a derivatives platform, SynFutures enables users to trade contracts whose value is derived from underlying crypto assets, such as futures contracts.

Overview

The platform has evolved through various versions to enhance functionality and user experience:

  • SynFutures v1: Introduced permissionless listing and trading, enabling any crypto asset to be traded without prior approval.
Ticker F
Category Decentralized Finance (DeFi)
Website https://www.synfutures.com/
Twitter @SynFuturesDefi
Telegram synfutures_Defi
Contract Addresses
ethereum 0x6e...f9Copied!
base 0x2c...d6Copied!
  • SynFutures v2: Improved the user interface for easier navigation and interaction for traders and liquidity providers.
  • SynFutures v3: Aims to expand the user base with the introduction of the Oyster Automated Market Maker (AMM), combining concentrated liquidity and order book models into a single on-chain system to improve liquidity and trading opportunities.

    • Oyster Automated Market Maker (AMM)

    The Oyster AMM is a vital feature of SynFutures v3, enhancing decentralized derivatives trading. It offers:

    • Single-token concentrated liquidity for derivatives: Allows liquidity providers to focus liquidity within specific price ranges, increasing capital efficiency. It supports listing any asset pair using a single token for liquidity provision.
    • Permissionless on-chain order book: Integrates transparency and trustlessness, avoiding reliance on centralized administrators.
    • Unified liquidity model: Combines concentrated liquidity and order book models to support efficient atomic transactions.
    • Stabilization mechanisms: Includes features like dynamic penalty fees and stabilized mark prices to enhance user protection and price stability.

    Odyssey Points

    Odyssey Points are rewards within the SynFutures platform, earned through activities such as referrals, providing liquidity, and placing limit orders. Liquidity addition plays a significant role in point accumulation, with higher points for narrower ranges and orders close to market prices. Referral activities and squad Total Value Locked (TVL) also impact point earnings.

    Products

    Perps

    SynFutures offers various categories catering to different user needs, including:

    • Market: Access to real-time market data.
    • Trade: Facilitates seamless execution of trades across derivatives contracts.
    • Earn: Opportunities for passive income through liquidity provision, staking, and yield farming.
    • Portfolio: Tools for managing investment portfolios and tracking performance.
    • Odyssey: A rewards program offering incentives for platform participation.

    NFTures

    NFTures is an app for trading NFT perpetual contracts, developed by SynFutures. It is designed to appeal to a wide range of traders, including newcomers to crypto futures. The app facilitates futures trading on fractionalized NFTs, offering a unique experience not found on other platforms.

    Funding

    In October 2023, SynFutures completed a Series B funding round, raising $22 million. Led by Pantera Capital, the round included participation from HashKey Capital, SIG DT Investments, and others. This funding follows a Series A round in June 2021, bringing the total raised by SynFutures to approximately $38 million.