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Singapore, Singapore, March thirteenth, 2024, Chainwire
SynFutures (https://www.synfutures.com), a number one decentralized derivatives trade, right this moment introduced the Buying and selling Grand Prix (TGP) Competitors, setting a brand new report with the biggest stablecoin prize pool ever supplied in decentralized finance (DeFi) historical past. With 500,000 USDB in rewards, the competitors marks a monumental milestone following the launch of SynFutures V3 on Blast, which garnered over 300,000 registrations and greater than $24M in TVL in only one week.
The TGP is designed to highlight SynFutures’ new Oyster AMM (oAMM), a fusion of automated market-making with an onchain order guide mannequin, setting a brand new benchmark for capital effectivity in DeFi. Traditionally, the hole between DeFi and CeFi has been pronounced, with the latter usually outpacing in effectivity and consumer expertise. Powered by the novel oAMM, SynFutures V3 bridges this divide, heralding a brand new period the place DeFi can compete head-on with its centralized counterparts.
An Eight-Week Marathon of Ability and Technique
Starting March 12, 2024, and ending Could 7, 2024, the competitors invitations all merchants to navigate the unstable seas of decentralized perps buying and selling, leveraging SynFutures’ unmatched effectivity to safe their spot among the many legends of the commerce. Every match stands alone, providing recent possibilities to win weekly USDB prizes, with as much as 10,000 USDB awarded to the highest dealer.
TGP additionally encompasses a Masters Event, drawing in luminaries from the DeFi neighborhood and main companies. Particpants embrace @jandx_, @RoofHanzo, @CMSholdings, @Awawat_Trades, @CL207, @keyboardmonkey3, @mattomattik, @nanixbt, @izebel_eth, @_jaechung, @cryptoethan, and @ResearchKronos. This elite gathering underscores the competitors’s significance, offering an onchain stage for the most effective to showcase their methods below essentially the most dynamic of market circumstances.
Rachel Lin, Co-founder and CEO of SynFutures, mirrored on the inception of the buying and selling competitors. “Having seen a lot success with our V3 launch on Blast, we needed to have fun this milestone by doing one thing unprecedented in DeFi. The Grand Prix isn’t only a competitors; it’s a testomony to our perception that DeFi can supply a buying and selling expertise as wealthy, if not richer, than CeFi. This competitors invitations the buying and selling neighborhood to expertise our new platform’s capabilities firsthand.”
Because the Grand Prix beckons, all merchants are invited to partake on this historic occasion, vying for a bit of the half-million USDB prize pool. It’s greater than a contest; it celebrates strides towards a decentralized future, underscored by SynFutures’ unwavering dedication to innovation, effectivity, and neighborhood.
Along with the TGP, customers on SynFutures can earn as much as 3x the rewards potential via the Expanded Oyster Odyssey (OO) program. Merchants and liquidity suppliers will probably be rewarded with Blast, Blast Gold (Large Bang developer airdrop allocation), and OO factors. A breakdown of the rewards distribution might be discovered right here.
Customers can go to the SynFutures weblog for extra info on The Grand Prix Buying and selling Competitors, leaderboard updates, and registration particulars.
About SynFutures
SynFutures is a decentralized perpetual futures protocol that facilitates open and clear buying and selling on any belongings and listings immediately. The V3 Oyster AMM launched the trade’s first-ever unified AMM and onchain order guide mannequin.
Backers embrace Tier 1 Web3 institutional buyers Pantera Capital, Polychain Capital, Susquehanna Worldwide Group (SIG), Dragonfly Capital, Customary Crypto, and Framework Ventures, and the staff has intensive expertise at world monetary establishments, fintech firms and blockchain expertise firms resembling Alipay, Bitmain, Credit score Suisse, Deutsche Financial institution, Matrixport, and Nomura Securities.
Study extra:
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Contacts
CMO
Mark Lee
SynFutures
[email protected]
Head of Content material
Greer Rodriguez
SynFutures
[email protected]
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