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Singapore, Singapore, June twenty fifth, 2024, Chainwire
Ranked the primary derivatives DEX by quantity, SynFutures V3 tops $100 billion in cumulative buying and selling quantity on Blast
SynFutures, the main DeFi derivatives protocol, has simply crossed $100 billion in cumulative buying and selling quantity on Blast. The milestone comes lower than 4 months following the Blast mainnet launch and forward of the L2 community’s airdrop this week.
After being named a winner of Blast’s Large Bang competitors, SynFutures was among the many first decentralized purposes (dApps) to launch on Blast. The protocol shortly turned the community’s high perpetual buying and selling alternate, capturing 83% of Blast’s quantity market share by the tip of Q1 (Messari), with a mean of $7 to eight billion in weekly buying and selling quantity. Because the Blast launch, SynFutures has persistently ranked because the primary decentralized derivatives alternate, outpacing opponents in weekly quantity (DefiLlama).
Strategic Incentives and Partnerships
SynFutures’ progress is attributed to its strategic campaigns and partnerships, most notably the Oyster Odyssey (O_O) Program, a factors program that rewards customers for onchain exercise whereas qualifying customers for the Blast airdrop. To date, the O_O program has seen over 150,000 onchain customers and distributed greater than 1.57 million Blast Gold, in addition to Blast Factors and different rewards.
SynFutures has additionally collaborated with main initiatives on Blast, together with Pacmoon, Ring Protocol, Renzo, ether.fi, Kelp DAO, Pyth Community, Mangrove, District One, eesse, and ZAP, to spice up exercise and consciousness additional. As a part of its permissionless listings technique, which allows anybody to launch new perp pairs in seconds, SynFutures V3 has supported trending tokens like PAC, DEGEN, YES, WIF, and ESE, cementing its standing because the go-to perpetual DEX for buying and selling memecoins, altcoins, and different long-tail property alongside the majors.
Product Enhancements on Blast
Because the launch of the Blast mainnet, SynFutures has added new options based mostly on Blast customers’ suggestions. Among the many most notable options are liquidity provision on cellular units, an optimized portfolio web page, extra value foundation choices, buying and selling pair information, assist for Belief Pockets, and different interface and consumer expertise updates. For extra info on the newest updates, customers can go to the SynFutures weblog.
“Blast’s revolutionary native yield performance was a key consider our resolution to launch V3 on the L2. We’ve seen an amazing response from the Blast and wider Web3 neighborhood, who’ve found our perps DEX and return repeatedly to commerce the wide range of property accessible on SynFutures. Wanting past the primary Blast airdrop, we plan to introduce much more options and updates for the Blast neighborhood,” stated Rachel Lin, co-founder and CEO at SynFutures.
To begin buying and selling on SynFutures V3 on Blast, customers can go to https://oyster.synfutures.com/.
About SynFutures
SynFutures is a decentralized perpetual futures protocol that facilitates open and clear buying and selling on any property and listings immediately. The V3 Oyster AMM launched the trade’s first-ever unified AMM and onchain order e-book mannequin.
Backers embody Tier 1 Web3 institutional traders Pantera Capital, Polychain Capital, Susquehanna Worldwide Group (SIG), Dragonfly Capital, Customary Crypto, and Framework Ventures, and the workforce has intensive expertise at world monetary establishments, fintech firms and blockchain expertise firms equivalent to Alipay, Bitmain, Credit score Suisse, Deutsche Financial institution, Matrixport, and Nomura Securities.
ContactMark Leemark.lee@synfutures.com
This text was initially printed on Chainwire