Synfutures – Trade Futures Anything Anytime | Chance to get retroactive
SynFutures focuses on the natural next generation of financial instruments — derivatives, whose market size has long outstripped that of spot in traditional finance. According to the Bank for International Settlements (BIS), derivatives transactions accounted for approximately 70% of the total trading volume of FX in 2021.
What is SynFutures?
SynFutures is a decentralized derivatives platform that allows various digital asset pairs to be freely created and traded with one single digital token as margin. Their first version of the protocol has beta with futures market and is designed to support a large variety of assets, including ERC-20, cross-chain assets, and anything else with a price feed. With the support of Dune, you will be able to check all information about transaction volume number of users accurately and quickly.
SynFutures aims to build a next-generation digital asset derivative trading and clearing platform, adhering to the following product design principles:
- It should be an open and free market, offering market participants the power to add and trade any assets on the platform. The market, instead of the platform operator, will decide who are the winning assets. Of course, as the guidance for investor protection becomes clearer, we will work to further improve the fair market rules together with the community.
- It should maximize the variety of tradable assets on the blockchain, from Ethereum native, crosschain digital assets, to the real-world assets.
What Makes SynFutures Unique?
30-second Asset Listings: List and trade any futures contracts based on popular cryptocurrencies, altcoins, indices, NFTs and real-world assets —you name it!
Single-token Liquidity Provision & Trading: Provide liquidity or take leveraged positions on various assets pairs with a single digital currency via our sAMM model.
Rigid Risk Management: Enter into futures contracts with hard peg to spot prices and secured by best practices in TradFi and CeFi derivatives.
Product Of SynFutures
Crypto Futures
V1 Beta
SynFutures V1 fixed margin was released in Closed Alpha on Ethereum Mainnet and Polygon in June 2021, later expanding to BNB Chain (previously Binance Smart Chain) and Arbitrum. Closed Alpha concluded after three months, and Open Beta started in October 2021 on all four networks. As promised, SynFutures V1 delivered an open, decentralized, and permissionless futures market. It proved that derivatives DEX could be as permissionless as spot DEXs like Uniswap, allowing any user to list arbitrary futures trading pairs with a few clicks and a single digital currency as margin. In V1 only USDC, USDT, DAI and ETH were allowed as margin. Later WBTC, MATIC and BNB were added to the list.
By the end of January 2022, more than 155 different underlying had been permissionless listed and traded on Synfutures, which reveals the still unmet demand for long-tail derivatives. Today, more than 65,634 unique addresses have interacted with SynFutures smart contracts, with nearly 41,814 of them traded on the platform. Cumulative trading volume surpassed $232 billion in July 2022.
V2 Testnest
SynFutures V2 is currently in testnet with many outstanding functions as follows:
- SynFutures v2 implements Perpetual Futures to provide traders with a similar experience to perpetual swaps in centralized exchanges.
- Every position and liquidity is automatically rolled to the new daily futures, while the daily settlement behaves similar to the funding events in perpetual swaps
- While V1 just allows margin for some pair like: USDC, UDDST, DAI.. V2 has fully embraced the multichain strategy, native DAO network tokens will be allowed to be used as margin, along with popular USD stablecoins, on each network. In addition, any token on any network that SynFutures is deployed on could be added to the margin token list via the route of the coin-margined future once the community approves its use. With the expanded list of margin tokens, LPs could provide liquidity with their preferred store of value, while traders could use their preferred token as collateral.
More about tetnest: CLICK HERE
NFTures – Early Acess
With the emergence of fractionalization protocols for NFTs, NFT fractions are now commonly traded in spot DEXs like Uniswap and SushiSwap. Due to the permissionless nature of these fractionalized NFTs, SynFutures is the perfect platform to offer Perpetual Futures on these long tail assets where no other
DEX or CEX could.
More information: CLICK HERE
Decentralized Oracles
BTC hash rate futures (BTCHASH), introduced by the SynFutures team, represents the expected BTC block mining reward for a difficulty resetting period (roughly 14 days) per PH/s hash rate at a set difficulty level. Miners can use BTCHASH to hedge the fluctuation of Bitcoin mining difficulty in order to lock in future mining rewards.
Roadmap
Public beta for SynFutures V2 is expected to launch in Q3. During this period, their team will gather user feedback, address any issues, and improve the platform.
While their current trading programs have been popular, they will refresh these initiatives with expanded options to make them even more engaging, enjoyable and rewarding for the community. Expected updates include mult-chain trading options, term futures, and options for professional traders, but we’ll share more details in Q3.
Q4 2022: New AMM Model and Deployment on Non-EVM Chains
Toward the end of the year, they will welcome a new AMM model with ranged liquidity provision. This model is designed to enhance further capital efficiency and flexibility for advanced LPs regarding perpetual futures of major pairs with ample liquidity and market participants.
How to involve Tetnest V2
Step 1) V2 uses metamask with Ethereum Kovan network connection, add network by show test networks
Step 2) Receive token Kovan testnet Ether
Come to web: https://faucets.chain.link/ or: https://faucet.kovan.network/ or: https://gitter.im/kovan-testnet/faucet-> Connect to wallet -> Request token testnet
Step 3) Mint assets
Choose assets you want to mint and request
Step 4) Trade on SynFutures testnet
Chance to get retroactive
Currently, SynFutures does not have a native token like Uniswap, Shushi swap. This will be an opportunity for users to participate in the project’s testnet. Information about the token is to build on Ethereum, but there is no new information. Coincu will update as soon as there is new news.
Verdict
Above is information of SynFutures and potential for development, hope the above information can be useful for you. Follow Coincu for more new information about new project and hot news.
Find more information about SynFutures:
Website: https://www.synfutures.com/
Telegram: https://t.me/synfutures_Defi
Twitter: https://twitter.com/SynFuturesDefi
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Alan
Coincu Ventures
.
Author
Blockchain, Knowledge
Synfutures – Trade Futures Anything Anytime | Chance to get retroactive
SynFutures focuses on the natural next generation of financial instruments — derivatives, whose market size has long outstripped that of spot in traditional finance. According to the Bank for International Settlements (BIS), derivatives transactions accounted for approximately 70% of the total trading volume of FX in 2021.
What is SynFutures?
SynFutures is a decentralized derivatives platform that allows various digital asset pairs to be freely created and traded with one single digital token as margin. Their first version of the protocol has beta with futures market and is designed to support a large variety of assets, including ERC-20, cross-chain assets, and anything else with a price feed. With the support of Dune, you will be able to check all information about transaction volume number of users accurately and quickly.
SynFutures aims to build a next-generation digital asset derivative trading and clearing platform, adhering to the following product design principles:
- It should be an open and free market, offering market participants the power to add and trade any assets on the platform. The market, instead of the platform operator, will decide who are the winning assets. Of course, as the guidance for investor protection becomes clearer, we will work to further improve the fair market rules together with the community.
- It should maximize the variety of tradable assets on the blockchain, from Ethereum native, crosschain digital assets, to the real-world assets.
What Makes SynFutures Unique?
30-second Asset Listings: List and trade any futures contracts based on popular cryptocurrencies, altcoins, indices, NFTs and real-world assets —you name it!
Single-token Liquidity Provision & Trading: Provide liquidity or take leveraged positions on various assets pairs with a single digital currency via our sAMM model.
Rigid Risk Management: Enter into futures contracts with hard peg to spot prices and secured by best practices in TradFi and CeFi derivatives.
Product Of SynFutures
Crypto Futures
V1 Beta
SynFutures V1 fixed margin was released in Closed Alpha on Ethereum Mainnet and Polygon in June 2021, later expanding to BNB Chain (previously Binance Smart Chain) and Arbitrum. Closed Alpha concluded after three months, and Open Beta started in October 2021 on all four networks. As promised, SynFutures V1 delivered an open, decentralized, and permissionless futures market. It proved that derivatives DEX could be as permissionless as spot DEXs like Uniswap, allowing any user to list arbitrary futures trading pairs with a few clicks and a single digital currency as margin. In V1 only USDC, USDT, DAI and ETH were allowed as margin. Later WBTC, MATIC and BNB were added to the list.
By the end of January 2022, more than 155 different underlying had been permissionless listed and traded on Synfutures, which reveals the still unmet demand for long-tail derivatives. Today, more than 65,634 unique addresses have interacted with SynFutures smart contracts, with nearly 41,814 of them traded on the platform. Cumulative trading volume surpassed $232 billion in July 2022.
V2 Testnest
SynFutures V2 is currently in testnet with many outstanding functions as follows:
- SynFutures v2 implements Perpetual Futures to provide traders with a similar experience to perpetual swaps in centralized exchanges.
- Every position and liquidity is automatically rolled to the new daily futures, while the daily settlement behaves similar to the funding events in perpetual swaps
- While V1 just allows margin for some pair like: USDC, UDDST, DAI.. V2 has fully embraced the multichain strategy, native DAO network tokens will be allowed to be used as margin, along with popular USD stablecoins, on each network. In addition, any token on any network that SynFutures is deployed on could be added to the margin token list via the route of the coin-margined future once the community approves its use. With the expanded list of margin tokens, LPs could provide liquidity with their preferred store of value, while traders could use their preferred token as collateral.
More about tetnest: CLICK HERE
NFTures – Early Acess
With the emergence of fractionalization protocols for NFTs, NFT fractions are now commonly traded in spot DEXs like Uniswap and SushiSwap. Due to the permissionless nature of these fractionalized NFTs, SynFutures is the perfect platform to offer Perpetual Futures on these long tail assets where no other
DEX or CEX could.
More information: CLICK HERE
Decentralized Oracles
BTC hash rate futures (BTCHASH), introduced by the SynFutures team, represents the expected BTC block mining reward for a difficulty resetting period (roughly 14 days) per PH/s hash rate at a set difficulty level. Miners can use BTCHASH to hedge the fluctuation of Bitcoin mining difficulty in order to lock in future mining rewards.
Roadmap
Public beta for SynFutures V2 is expected to launch in Q3. During this period, their team will gather user feedback, address any issues, and improve the platform.
While their current trading programs have been popular, they will refresh these initiatives with expanded options to make them even more engaging, enjoyable and rewarding for the community. Expected updates include mult-chain trading options, term futures, and options for professional traders, but we’ll share more details in Q3.
Q4 2022: New AMM Model and Deployment on Non-EVM Chains
Toward the end of the year, they will welcome a new AMM model with ranged liquidity provision. This model is designed to enhance further capital efficiency and flexibility for advanced LPs regarding perpetual futures of major pairs with ample liquidity and market participants.
How to involve Tetnest V2
Step 1) V2 uses metamask with Ethereum Kovan network connection, add network by show test networks
Step 2) Receive token Kovan testnet Ether
Come to web: https://faucets.chain.link/ or: https://faucet.kovan.network/ or: https://gitter.im/kovan-testnet/faucet-> Connect to wallet -> Request token testnet
Step 3) Mint assets
Choose assets you want to mint and request
Step 4) Trade on SynFutures testnet
Chance to get retroactive
Currently, SynFutures does not have a native token like Uniswap, Shushi swap. This will be an opportunity for users to participate in the project’s testnet. Information about the token is to build on Ethereum, but there is no new information. Coincu will update as soon as there is new news.
Verdict
Above is information of SynFutures and potential for development, hope the above information can be useful for you. Follow Coincu for more new information about new project and hot news.
Find more information about SynFutures:
Website: https://www.synfutures.com/
Telegram: https://t.me/synfutures_Defi
Twitter: https://twitter.com/SynFuturesDefi
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Alan
Coincu Ventures
.
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