SynFutures Launches V3 on Blast Mainnet, Introduces Oyster Odyssey Rewards Program
SynFutures, a decentralized derivatives exchange specializing in crypto perpetual futures trading, has released its latest version, V3, on the Ethereum Layer 2 Blast mainnet. The launch coincides with the introduction of the Oyster Odyssey points rewards program. Additionally, V3 users will be eligible for the upcoming Blast airdrop.
โInteracting with SynFutures can qualify users for Oyster Odyssey points as well as Blast points,โ said Rachel Lin, co-founder and CEO of SynFutures. โWeโre also committed to giving 100% of our Blast developer airdrop back to users, so theyโll enjoy plenty of benefits.โ
SynFutures is also planning to launch its own token this year, according to a source familiar with the matter. In October 2021, the DEX raised $22 million in a Series B funding round and expressed openness to launching its token as part of its decentralization roadmap.
SynFutures V3 on Blast Mainnet
The release of SynFutures V3 on the Blast mainnet follows closely after the launch of the Layer 2 network. Blast gained significant popularity prior to its mainnet launch, attracting over $2.3 billion in total value locked (TVL) and backing from prominent investors like Paradigm.
Last October, SynFutures initially launched V3 on the Ethereum testnet and planned to deploy the main protocol on various blockchains such as Polygon and zkSync Era. However, after testing on Blastโs testnet in January, the project decided to focus on driving adoption and volume on Blast before expanding to other chains.
While SynFutures V2 is still available on the Polygon proof-of-stake chain, the project is gradually phasing out support to prioritize the V3 rollout. V1 has already been phased out. To date, V1 and V2 have processed over $23 billion in cumulative trading volume.
SynFutures Plans
With the launch of V3, SynFutures intends to expand its platform through localized growth. The Singapore-based firm currently employs over 20 individuals and plans to hire regional leads for business development and marketing in key markets. Additionally, it aims to recruit more personnel for research and product functions. In the medium term, SynFutures also envisions expanding to multiple blockchains.
SynFutures has raised approximately $38 million in total funding and counts Pantera Capital, HashKey Capital, and SIG DT Investments (a unit of the Susquehanna International Group) among its investors.
๐ฅ Hot Take: SynFutures Launches V3 on Blast Mainnet, Unveils Oyster Odyssey Rewards Program
SynFutures has successfully launched its latest version, V3, on the Ethereum Layer 2 Blast mainnet. Alongside this release, the decentralized derivatives exchange has introduced the Oyster Odyssey rewards program, allowing users to earn points for their interactions on the platform. In addition, V3 users will have the opportunity to participate in the upcoming Blast airdrop.
The integration of SynFutures with Blast comes after the Layer 2 network gained significant attention even before its mainnet launch. With backing from prominent investors like Paradigm, Blast attracted over $2.3 billion in TVL.
While SynFutures had initially planned to deploy V3 on various blockchains, including Polygon and zkSync Era, it decided to focus on driving adoption and volume on Blast for now. However, the project still intends to expand to multiple chains in the future.
As part of its growth plans, SynFutures aims to hire regional leads for business development and marketing in key markets. It also seeks to recruit more talent across research and product functions. With a total funding of $38 million and support from investors like Pantera Capital and HashKey Capital, SynFutures is well-positioned for further success.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats.