SynFutures V3 Goes Live on Base, Launches Meme Perp Summer - Chainwire

02Jul

SynFutures V3 Goes Live on Base, Launches Meme Perp Summer

Singapore, Singapore, July 2nd, 2024, Chainwire

SynFutures, the onchain perp protocol for listing and trading any asset, is now live on Coinbase’s L2 network Base. Users can now trade and provide liquidity on SynFutures V3 via Base while earning SynFutures’ Oyster Odyssey (O_O) points.

Additionally, SynFutures will release a series of new listings over the next several weeks as part of Meme Perp Summer. a six-week campaign blitz to expand community asset listings and reward meme communities on Layer 2.

SynFutures’ multichain expansion to Base comes as SynFutures V3 on Blast surpasses $100 billion in cumulative trading volume in less than four months, cementing it as the top perpetual DEX across all chains and one of the most active DeFi dApps in Web3. With its industry-leading Oyster AMM, which combines a concentrated liquidity model and an onchain orderbook, SynFutures aims to bring the ultimate onchain futures and perps experience for any asset to the Base ecosystem.

Launch Partners and Meme Perp Summer

SynFutures has teamed up with some of the top projects in the space, listing tokens from SocialFi giant Degen and Web3 gaming protocol Iskra, among others, to kick off Meme Perp Summer.

Among the new asset pairs are:

$DEGEN/WETH
$CHOMP/WETH
$BOOMER/WETH
$ISK/WETH

In addition to popular memecoins, SynFutures will list liquid staking derivatives (LSD) assets and liquid staking tokens (LRTs), crucial in bringing liquidity and organic yield to the onchain space.

Listed LSD and LRT asset pairs include:

wstETH/ETH from Lido
weETH/ETH from ether.fi
wrsETH/ETH from Kelp DAO

SynFutures is utilizing Chainlink, a decentralized blockchain oracle network, to provide integral price oracle infrastructure for our deployment on Base.

Fee Promotion for Major Asset Pairs

As part of Meme Perp Summer, SynFutures is launching a limited-time promotion across all networks on major pairs, such as the BTC and ETH pairs. Starting on July 1, 2024, SynFutures team is reducing the trading (taker) fee for major pairs from 3 basis points (bps) to just 2 bps.

Additionally, to simplify the trading experience, all traders will enjoy the benefits of the highest-level VIP fee during this promotional period.

Expansion of Oyster Odyssey Points

SynFutures also reaffirms to Blast users that the O_O points gained during the Blast Season will not be diluted by the Base launch. The overall pool has been increased. Rewards distributed on Base will be separate from and in addition to those on Blast.

About SynFutures

SynFutures is a decentralized perpetual futures protocol that facilitates open and transparent trading on any assets and listings instantly. The V3 Oyster AMM launched the industry’s first-ever unified AMM and Permissionless Onchain Orderbook. Backed by top investors like Pantera, Polychain, Standard Crypto, Hashkey, and more, SynFutures has processed more than $100 billion in trading volume since its launch in 2021.