Outside Source
[PRESS RELEASE – Singapore, Singapore, June 25th, 2024]
Ranked the number one derivatives DEX by volume, SynFutures V3 tops $100 billion in cumulative trading volume on Blast
SynFutures, 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 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 in weekly volume (DefiLlama).
Strategic Incentives and Partnerships
SynFutures’ 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, users can 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, users can 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.
This article first appeared at CryptoPotato
