🧐DeFi is reviving, looking forward to the new benchmark of Perp DEX - a full analysis of Bybit’s latest Launchpool project @SynFuturesDefi!
After the popular hyperliquid airdropped yesterday, the price of the coin broke through $7, setting a new high, and the trading volume reached $1.05b. This also attracted more attention to the Perp DEX track.
As I said yesterday, on-chain derivatives trading is the most profitable and wealth-accumulating sub-sector. In the future, with stricter regulation, more transactions will flow to the chain.
Decentralized perpetual contract exchanges may be one of the few tracks that are definitely valuable and have a large number of innovative projects emerging.
High capital accumulation, high-frequency transactions, high real transaction fees, and ignoring bull and bear markets are relatively stable businesses and have become an important and fast-growing part of the DeFi ecosystem.
Currently, the top three decentralized derivatives platforms are dYdX, Hyperliquid, and SynFutures.
After SynFutures migrated from Blast to Base, all data began to soar. It is currently the leading derivatives project in the Base ecosystem, accounting for 14% of the total trading volume of the Perp DEX track, and will be TGE next week, which is worth paying attention to!
1⃣SynFutures——Star DEX derivatives market
SynFutures is a decentralized synthetic derivatives platform on Base that supports expiring contracts and perpetual contracts, and allows users to freely add and trade various digital asset derivative pairs in a single currency.
SynFutures has created the Oyster AMM model, which lowers the threshold for entering the derivatives market and supports an unlimited number of long-tail assets. Its core features include:
🔹Single-coin centralized liquidity for derivatives: Oyster AMM improves capital efficiency by centralized liquidity, simplifies trading with only one token, and provides customized margin management and liquidation framework for derivatives
🔹Fully on-chain order book: oAMM allows users to provide liquidity at a specified price point, thereby implementing on-chain limit orders, thereby simulating the trading behavior of the order book, improving capital efficiency, attracting market makers, and improving trading efficiency and depth
🔹Single model for unified liquidity: Combining AMM and order book to provide an efficient trading environment, avoiding the complexity of a dual-process execution system
🔹Stabilization mechanism protects users: through dynamic penalty fees (if a user maliciously pulls the price significantly to arbitrage, he will be punished by charging additional transaction fees allocated to the LP of the market) and risk management mechanisms (early warning freeze, large withdrawal inspection, etc.), protect user funds and balance market fluctuations
SynFutures has achieved the following:
- The number one decentralized exchange on Base
- Transaction volume reached US$26 billion
- 144,000 on-chain users
- $33 million TVL
It is a dark horse in the true sense, and has also launched the industry's first Perp Launchpad, which supports the currency-based contract market for various assets such as blue-chip tokens, LST, meme, etc. It will also expand to the spot aggregator track in the future, and has great potential to become an industry benchmark.
2. Token Economics and Usage
The total amount of $F tokens is 10 billion, 28.5% of which are used to support the community, including airdrops, ecosystem and liquidity rewards, of which 7.5% are used for airdrops. The uses of tokens include voting rights, airdrop reward bonuses, platform transaction fee discounts, etc., which strengthens the actual application scenarios of tokens.
The investors are all very wealthy, including Pantera Capital, Dragonfly, Polychain, Standard Crypto, and participation from many well-known institutions such as Bybit and Wintermute, raising a total of US$38 million.
Let’s see if there will be a big wave when it goes online!
3⃣Bybit launchpool activity is in full swing!
SynFutures has already won the bybit launchpool, and you can mine $F with MNT or USDT without any loss, which is very attractive. Details are as follows:
💰launchpool Total prize pool: $20 million
💳How to get it: Pledge $MNT (6 million) or $USDT (14 million)
📈Return rate: Annual interest rate is about 940%
⏰Staking period: December 2, 10:00 ~ December 5, 10:00 (UTC)
🔗bybit official event link: https://www.bybits.io/zh-MY/trade/spot/launchpool?ref=JWBDREM&affiliate_id=88766&group_id=853625&group_type=1
You can do your own research and see if you want to get involved!
