SynFutures Launches V3 on Layer-2 Blast

Posted on X day today (01/03), SynFutures has launched version V3 on Blast – a layer-2 mainnet deployed on the same day, enabling users to withdraw ETH staking since November last year.

📢#SynFuturesV3 is the first perps DEX to go live on @Blast_L2 mainnet! 🎉

Users can trade to earn TRIPLE rewards: Blast points, Blast Gold & O_O points, our new points program for V3 🏆

Wen token? More info 👉 https://t.co/u5Fct4AIrd

Trade on V3 👉 https://t.co/wGgMmOaTq9 pic.twitter.com/HHbftrqKG6

— SynFutures Protocol (@SynFuturesDefi) February 29, 2024

In addition, the Perp DEX also introduces a rewards program called Oyster Odyssey, where users “interact farm” on V3 can receive upcoming airdrops from both Blast and SynFuture simultaneously.

Rachel Lin, co-founder and CEO of SynFutures, told The Block about the rewards program:

Interacting with SynFutures can help users qualify for Oyster Odyssey points as well as Blast points… We also commit to returning 100% of the airdrop to users contributing on Blast, so they will enjoy many benefits.

According to a close source, SynFutures plans to launch its token later this year. In October last year, after the DEX raised $22 million in Series B funding, the exchange hinted at the possibility of issuing tokens as part of its development roadmap.

Related: Blast Releases Mainnet, Expected Airdrop Redemption Schedule

About SynFutures

SynFutures first introduced V3 on the Ethereum testnet in October last year. The DEX then planned to launch the mainnet on several chains including Polygon and zkSync Era. However, the final decision was to deploy on Blast.

CEO Rachel Lin said the project will continue to expand cross-chain, but has not yet decided which blockchain is the next destination. She said: “Our current focus is to drive adoption on Blast.”

Lin shared that SynFutures V2 is still available on Polygon, but the project has started phasing out support and shifting focus to V3. On the other hand, V1 has been discontinued. Lin said versions V1 and V2 have processed a total trading volume of over $23 billion to date.

So far, SynFutures has raised a total of $36 million in funding and is backed by investors including Pantera Capital, HashKey Capital, and SIG DT Investments (a unit of Susquehanna International Group).