SynFutures, a decentralized derivatives trading platform, has introduced its latest offering, the Perp Launchpad. This launch will expand access to perpetual futures markets in the DeFi space. With a $1 million grant program to support emerging token projects, the protocol will establish perpetual markets as a key element in DeFi, offering projects new opportunities for liquidity, visibility, and user engagement.
SynFutures Unveils Perp Launchpad With $1M Grant
In a recent update, SynFutures launched its Perp Launchpad, a new platform designed to help crypto projects create perpetual futures markets. This initiative targets DeFi projects, enabling them to establish ongoing futures trading for their tokens and increase market engagement. The launch includes a $1 million grant to support emerging token projects through liquidity and marketing resources.
With perpetual futures, tokens can remain actively traded without set expiration dates, offering opportunities for leveraged positions and hedging strategies. Unlike conventional launchpads focusing on spot markets, the Perp Launchpad uniquely supports derivative-based trading. This allows access to emerging DeFi tokens and increased engagement through futures contracts.
Perp Launchpad Expands Access To Derivatives Markets on Base
The initial rollout of SynFutures’ Perp Launchpad is set on Base, an Ethereum Layer 2 network known for its low transaction costs and scalability. Consequently, SynFutures will enhance access to derivatives markets for new tokens in a growing DeFi ecosystem. This launch offers projects the capability to establish trading pairs directly on Base, where trading demand for various DeFi tokens continues to grow.
As a part of its ongoing development, the decentralized derivatives protocol has forged partnerships with projects like Lido and Solv Protocol, contributing to over $23 billion in cumulative trading volume on Base. This integration facilitates liquidity and diverse trading options within derivatives markets for its user base.
Additionally, the Perp Launchpad will open the door for a wider range of assets, including long-tail tokens and popular memecoins. More so, the decentralized derivatives protocol enables emerging projects to access additional trading opportunities and liquidity channels. The launchpad is particularly attractive to tokens that may not have established liquidity in traditional markets.
In addition, SynFutures has included incentives such as trading competitions, designed to attract users to its on-chain derivatives markets.
Since the expansion of its V3 protocol, SynFutures has supported initiatives like the DAO Perps Program and the Meme Perp Summer to enhance its DeFi footprint.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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