Ranked the number one derivatives DEX by volume,
SynFutures V3 tops $100 billion in
trading volume on Blast
SINGAPORE, June 25,
2024 /PRNewswire/ --
SynFutures (www.synfutures.com), the leading
DeFi derivatives protocol, has just crossed
$100 billion in cumulative trading
volume on Blast. The milestone comes less than four months
following the Blast mainnet launch and ahead of the L2 network's
highly anticipated airdrop this week.
After being named a winner of Blast's Big Bang competition,
SynFutures was among the first decentralized
applications (dApps) to launch on Blast. The protocol
quickly became the network's top perpetual trading exchange,
capturing 83% of Blast's volume market share by the end of Q1
(Messari), with an average of $7 to 8
billion in weekly trading volume. Since the Blast launch,
SynFutures has consistently ranked as the number one
decentralized derivatives exchange, outpacing
competitors like dYdX and Hyperliquid in 24-hour volume
(DefiLlama).
Strategic Incentives and Partnerships
SynFutures' explosive growth is attributed to its strategic
campaigns and partnerships, most notably the Oyster Odyssey (O_O)
Program, a points program that rewards users for onchain activity
while qualifying users for the Blast airdrop. So far, the O_O
program has seen over 150,000 onchain users and distributed more
than 1.57 million Blast Gold, as well as Blast Points and other
rewards.
SynFutures has also collaborated with leading projects on Blast,
including Pacmoon, Ring Protocol, Renzo, ether.fi, Kelp DAO, Pyth
Network, Mangrove, District One, eesse, and ZAP, to boost activity
and awareness further. As part of its permissionless listings
strategy, which enables anyone to launch new perp pairs in seconds,
SynFutures V3 has supported trending tokens like PAC, DEGEN, YES,
WIF, and ESE, cementing its status as the go-to perpetual DEX for
trading memecoins, altcoins, and other long-tail assets alongside
the majors.
Product Improvements on Blast
Since the launch of the Blast mainnet, SynFutures has added new
features based on Blast users' feedback. Among the most notable
features are liquidity provision on mobile devices, an optimized
portfolio page, additional price basis options, trading pair info,
support for Trust Wallet, and other interface and user experience
updates. For more information on the latest updates, visit the
SynFutures blog.
"Blast's innovative native yield functionality was a key factor
in our decision to launch V3 on the L2. We've seen an overwhelming
response from the Blast and wider Web3 community, who have
discovered our perps DEX and return again and again to trade the
wide variety of assets available on SynFutures. Looking beyond the
first Blast airdrop, we plan to introduce even more features and
updates for the Blast community," said Rachel Lin, co-founder and CEO at
SynFutures.
To start trading on SynFutures V3 on Blast, go to
https://oyster.synfutures.com/.
About SynFutures
SynFutures is a decentralized perpetual futures
protocol that facilitates open and transparent trading on any
assets and listings instantly. The V3 Oyster AMM launched the
industry's first-ever unified AMM and onchain order book model.
Backers include Tier 1 Web3 institutional investors Pantera
Capital, Polychain Capital, Susquehanna International Group (SIG),
Dragonfly Capital, Standard Crypto, and Framework
Ventures, and the team has extensive experience at global financial
institutions, fintech companies and blockchain technology companies
such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport,
and Nomura Securities.
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SOURCE SynFutures