SynFutures Introduces Perp Launchpad

Decentralized derivatives startup SynFutures has launched its Perp Launchpad, the first platform specifically designed for creating perpetual futures markets. This initiative is complemented by a $1 million grant program aimed at supporting new token projects on the blockchain.

> "The crypto market has seen a surge in memecoins and long-tail assets capturing retail traders' attention. SynFutures' Perp Launchpad is designed to complement trending spot markets with efficient derivatives markets, helping projects unlock new token demand and utility," the company stated on Tuesday.

Key Features

• Built on Ethereum Layer 2 Base: Projects can create perpetual futures markets for any asset.
• Liquidity Optimization: A vault feature generates yields for liquidity providers, allowing traders to leverage a wider range of assets for potential gains or arbitrage.

Definition of Perpetual Futures

Perpetual futures, or "perps," are derivative contracts that enable traders to speculate on cryptocurrency prices without any expiration date.

Since expanding to Base in July, SynFutures has accounted for over half of Base's derivatives trading volume, totaling $23 billion in trades.

Rachel Lin, CEO of SynFutures, stated, "We're not only responding to market trends but fostering the growth of DeFi." The $1 million grant will provide financial backing, liquidity, and marketing support for new projects, further enhancing SynFutures' market presence.

This initiative follows previous successful programs like the DAO Perps and Meme Perp Summer, which resulted in the success of tokens such as DEGEN and MEW, along with collaborations with Lido, Solv Protocol, and others.