SynFutures Rewind 2022

SynFutures -

2022 was a pivotal time for blockchain and crypto, with plenty of lows and some bright spots in between the dark clouds. Despite the market setbacks, our mission to make decentralized derivatives accessible has stayed at the core of everything we do, from product development to community initiatives.

Now that the New Year is upon us, we’re recapping some of SynFutures’ most notable updates and events from the past several months, from becoming the biggest decentralized derivatives exchange on Polygon to the introduction of SynFutures V2. Of course, we have even more exciting announcements coming in early 2023 so stay tuned and follow @SynFuturesDeFi on Twitter to stay in the know.

SynFutures V1 Activity

Cumulative Trading Volume as of December 2023: $17,146,199,735 (+$14B since January 2022)

Cumulative Trades: 10,276,633

Daily Trading Volume ATH: $10.7B (November 16, 2022)

Find more stats on the SynFutures V1 Dune dashboard.

SynFutures V2

After a successful testnet period that kicked off in April 2022, V2 Closed Alpha is open to whitelisted addresses. V2 brings several new features to our platform:

  • Perpetual Futures
  • Coin-margined Futures
  • NFT Futures (“NFTures” launching early next year)
  • Shared Margins
  • Completely revamped UI/UX

Registration is still open, so be sure to sign up for access if you haven’t already! Also check out our step-by-step tutorials on how to open a position, close a position, and provide liquidity on SynFutures V2 mainnet.

V3: Coming 2023

The launch of SynFutures V3 in early 2023 will see the introduction of an updated sAMM model. This revolutionary market making model will combine the best of the order book and AMM models for improved liquidity.

Community Growth

Ecosystem Growth

Partnerships

We announced partnerships and integrations with several prominent projects, including Footprint Analytics, Celer Network, SushiSwap, PARSIQ, Router Protocol, Optimism, Chainlink, and Notifi.

Events

SynFutures hosted and appeared at a variety of virtual and in-person events in 2022:

  • ETH Amsterdam & Devconnect
  • Permissionless in West Palm Beach, Florida
  • Consensus in Austin, Texas
  • Pantera Blockchain Summit 2022. Our CSO Matthew Liu appeared on a panel about the intersection of TradFi and crypto at Pantera Blockchain Summit in Singapore.
  • DeFi Social at TOKEN2049 Singapore. We partnered with our friends and investors Pantera Capital for an after-party marking the end of Asia Crypto Week! Check out the recap.
  • Korea Blockchain Week 2022. We hosted an after-party with a Gangnam-style spin on the traditional Korean “Chimac” experience along with Notifi and Hashed.
  • Web 3.0 Developer Networking Party with SCB 10X

Campaigns

Our community grew significantly last year thanks in large part to consistent community activities and competitions. Some of our most notable campaigns:

We also launched the pilot phase of our highly anticipated Tell-A-Friend program, a way to reward our users for their commitment to SynFutures and to encourage SynFuturers to spread the word about our platform. The pilot was a huge success, with all NFTs claimed within hours.

Looking Ahead

We’ll reveal more details on our upcoming product launches, including V3 and NFTures, throughout Q1 2023. We also look forward to having more fruitful conversations about the future state of DeFi and Web3 with key players in the TradFi and digital assets communities. Our CSO Matt met recently with representatives at IMF Headquarters in Washington D.C. to discuss these topics and more.

Hope your New Year is off to a great start, #SynFuturers! Here’s to another successful year building the future of Web3 together.

About SynFutures

SynFutures is a next-generation Web3.0 decentralized derivatives infrastructure that creates an open and trustless derivatives market by enabling trading on anything with a price feed anytime. SynFutures democratizes the derivatives market by employing an Amazon-like business model, giving users the tools to freely trade any assets and list arbitrary futures contracts within seconds.

Deployed on multiple blockchains, SynFutures is currently the largest derivatives exchange on Polygon and is among the top three most actively used decentralized derivatives exchanges. Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Dragonfly Capital, Standard Crypto, and Framework Ventures, and team members have extensive experience at global financial institutions, fintech companies, and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.

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