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SynFutures: The rise of the new star in the Blast ecosystem DeFi derivation, with TVL exceeding 70 million USD.
The new star in the DeFi derivation track: SynFutures is rising
Decentralized Finance has undergone a developmental cycle and has become one of the most successful decentralized applications on the blockchain, fundamentally changing the landscape of the crypto market. Cryptocurrency trading has gradually shifted from off-chain to on-chain, evolving from simple swaps to a wide-ranging ecosystem that includes lending, staking, and derivation trading.
In the field of spot trading, a certain DEX has provided users with efficient yield products and trading experiences through its innovative centralized liquidity solution and permissionless listing mechanism, releasing a significant amount of on-chain liquidity and laying an important foundation for the prosperity and diversity of the ecosystem.
In the derivation sector, SynFutures is rising with the same momentum, hailed as "the newcomer in the derivation sector." This article will delve into the mechanisms of SynFutures and the innovations it brings to the derivation sector, as well as how to seize the opportunities presented by SynFutures.
Introduction to SynFutures
SynFutures is a decentralized perpetual contract protocol built on Blast. It is the first derivation protocol deployed on-chain after the launch of the Blast mainnet, and it has currently iterated to version V3. The V3 Oyster AMM model is the first unified AMM and on-chain order book model in the derivation space.
SynFutures V1 and V2 are similar to certain DEX V2, both based on the AMM model of the xyk formula, which has issues of low capital utilization and high slippage caused by insufficient depth.
In V3, SynFutures draws on the centralized liquidity model and permissionless listing mechanism to launch the Oyster AMM model on the infrastructure of the SynFutures sAMM model. The oAMM model allows LPs to concentrate liquidity within specified price ranges, thereby maximizing capital efficiency and liquidity depth, providing traders with a smoother trading experience and minimizing trading losses to the greatest extent.
SynFutures has raised a total of $38 million through three rounds of financing, with investors including several top investment institutions in the industry.
Data continues to rise, potential emerging
According to official data, SynFutures has accumulated a trading volume of 65.9 billion USD, providing over 3 million transactions for more than 110,000 users, with trading volume continuously increasing, peaking at 1.8 billion USD in a single day.
The data platform shows that SynFutures currently has a TVL of 70 million USD, with a daily trading volume stable at over 1 billion USD. Based on the data from the past 30 days, SynFutures' annual fee revenue is expected to exceed 125 million USD.
SynFutures demonstrates strong profitability, which is the foundation for the project to operate healthily in the long term and continuously innovate and iterate.
Centralized Liquidity Solutions for Derivation
The Oyster AMM model of SynFutures allows liquidity to be added within a specified price range, enhancing capital efficiency through leverage. Unlike the liquidity models of spot markets, the Oyster AMM adopts a margin management and liquidation framework tailored for derivation trading, ensuring the security of LPs and the protocol.
The oAMM model introduces bilateral liquidity, allowing liquidity to be added using only one type of token without the need to provide bilateral assets on a 1:1 basis. Liquidity providers can list any trading pair, such as pairing meme coins or any asset pairing. This mechanism brings more flexibility and choices to the ecosystem.
The Oyster AMM model brings multiple advantages to liquidity providers and the protocol:
Blast is about to airdrop, the ecological explosion is imminent, SynFutures welcomes opportunities
The Blast airdrop will take place on June 26. As a star Layer 2 project, Blast has attracted over 1 million users, reaching a peak Total Value Locked (TVL) of more than 3 billion USD. This level of popularity and appeal will bring more attention and adoption during the Blast airdrop.
Data shows that there are currently 115 DeFi protocols on the Blast chain, most of which have not yet released project tokens.
With the Blast token airdrop, more on-chain protocols will initiate TGE. SynFutures' permissionless listing and centralized liquidity mechanism will provide rapid responses for the ecosystem, stimulating market potential and flexibility. It will offer more feasible trading strategies and options for projects and users within the ecosystem.
More projects will bring more users and liquidity to SynFutures, enhancing its trading volume and profitability, and generating more expectations for SynFutures' future TGE.
Future Outlook
Currently, more than 98% of transactions in the crypto market are contract transactions, generating hundreds of billions in daily trading volume, but most of these transactions occur on centralized exchanges. Data shows that only 1% of perpetual transactions happen on-chain. Decentralization is an unstoppable trend, and in the future, more and more users will shift their trading on-chain. The derivation sector will become one of the most explosive and wealth-generating subfields.
The on-chain activity, trading volume, and user count of SynFutures continue to rise, reaching new highs repeatedly. Its trading volume consistently ranks among the top three in the derivation sector, especially performing outstandingly within the Blast ecosystem. These figures not only reflect users' high recognition of SynFutures but also indicate its strong competitiveness in the market.
With the issuance of Blast tokens, the ecosystem will explode, and SynFutures will usher in stronger growth. SynFutures is to Blast what a certain DEX is to Ethereum. In the future, SynFutures will also carry out multi-chain deployment, allowing more ecosystems to benefit, further expanding its user base and market share, bringing huge growth potential.