The deployment is part of SynFutures’ multi-chain expansion strategy.
We’re excited to announce our plans to deploy on Mantle, a Layer-2 (L2) scalability solution built on top of Ethereum. The deployment is part of SynFutures’ multi-chain expansion strategy, as we aim to bring our growing suite of DeFi trading products, including NFTures, to more protocols.
2023 has been a monumental year for the Mantle ecosystem. The L2 and BitDAO, the team building the rollup, merged in May, and after a successful testnet phase, the Mantle mainnet went live in July 2023. Unlike other L2s that utilize optimistic or zero-knowledge (zk) rollups, Mantle is modular, meaning it combines an optimistic rollup protocol with an innovative data availability solution. This allows Mantle Network to inherit security from Ethereum AND offer cheaper and more accessible data availability.
“While much progress has been made regarding Ethereum’s speed and scalability since the Shapella upgrade, L2s still play a pivotal role in bringing more users and projects into the Web3 ecosystem,” said Rachel Lin, co-founder and CEO at SynFutures. “We’ve been conversing with the Mantle team for some time, so we’re excited to move forward and introduce SynFutures to their growing community.”
“We are excited to see SynFutures arrive on Mantle and bring its basket of crypto derivatives to the community. SynFutures’ seamless listing and trading of crypto derivatives will benefit from Mantle’s high speed-low cost network and its large active trading community,” said Arjun Kalsy, Head of Ecosystem at Mantle.
Earlier this year, Matthew Liu, CSO and Partner at SynFutures, talked to Arjun about the L2’s roadmap and his thoughts on the future of Web3.
To stay updated on our partnership with Mantle, follow SynFutures on X.
About SynFutures
SynFutures is a next-generation Web3 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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About Mantle
Mantle’s first core product is Mantle Network, an L2 technology stack for scaling Ethereum. Mantle Network strives to be compatible with the Ethereum Virtual Machine. Mantle Network’s modular architecture separates transaction execution, data availability, and transaction finality into modules — which can be individually upgraded and adopt the latest innovations. Mantle Network is the first L2 to partner with ETH restaking protocol EigenLayer for the data availability module. By adopting a rollup architecture, Mantle Network is secured by Ethereum. As the world’s first DAO-spawned L2, Mantle Network is pioneering a vision for the mass adoption of token-governed technologies.