What is SynFutures? SynFutures is a Perpetual platform that supports trading many types of assets including Crypto, Bitcoin hashrate, Forex and future stocks. Built since 2020, the project is currently operating with version V2. So what is SynFutures? Let’s find out in this article!
To understand more about this project as well as the Perpetual segment, you can read the following articles:
- What is GMX (GMX)? Overview of GMX Cryptocurrency
- What is Perpetual Trading? Top 4 DEXs Leading in the Perpetual Array
- ZKX Protocol – The First Perpetual Platform on the StarkNet Ecosystem
What is SynFutures?
Overview of SynFutures
SynFutures is a Perpetual platform that supports trading many types of assets including Crypto, Bitcoin hashrate, Forex and future stocks. Currently, SynFutures is supporting the Polygon network but in the future the project will support cross-chain trading and most derivative assets. With the vision of becoming the leading derivatives platform in the Crypto market.
In particular, SynFutures is also the NFTtures platform of the future Crypto market. That is, it supports derivative transactions with NFT assets. With this vision, SynFutures wants to become the first multi-asset derivatives platform in Crypto.
Mechanism of action
sAMM model
SynFutures uses a synthetic automated market maker model called sAMM. That means users can offer assets of only one type in the liquidity pair. The protocol uses smart contracts to manually aggregate those assets into liquid pairs.
Liquidation
The liquidation process that takes place on SynFutures is automated using Bots. When collateral drops below the allowed level, traders’ orders will automatically be liquidated. And the Liquidation Bot will receive a small reward for its work.
Development Roadmap
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Core Team
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Investors
- February 4, 2021: Seed round received investment from DragonFly Capital, Standard Crypto for an undisclosed amount.
- June 16, 2021: Successfully raised $14M Series A round led by Polychain Capital, with participation from several funds such as Pantera Capital, Framework Ventures, CMS Holdings, IOSG, Bybit, Wintermute and Kronos Research.
Tokenomics
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Exchanges
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SynFutures Information Channel
- Website: https://www.synfutures.com/
- Twitter: https://twitter.com/SynFuturesDefi
- Medium: https://medium.com/synfutures
- Discord:
Summary
Launched in 2020, but until now the project has not yet completed all the products or attracted users. But whether with the project’s ambitions in the future, whether the project can revive and become a leader or not, time will prove.