The launch of SynFutures Foundation and F signifies SynFutures' progress toward decentralization, enabling its community to govern the protocol.
HONG KONG, Dec. 3, 2024 /PRNewswire/ -- SynFutures (www.synfutures.com), a leading decentralized exchange for trading any asset with leverage and a full stack financial infrastructure provider, today announced the launch of SynFutures Foundation and the F token airdrop. Crypto exchanges including Bybit, Bitget, Gate.io, and KuCoin have confirmed the listing of the F token upon launch. This marks the beginning of SynFutures decentralizing its ecosystem and transitioning governance power to its community.
SynFutures has become a key player in the onchain derivatives ecosystem since its v3 launch on Base and Blast earlier in 2024. Its v3 protocol, powered by the Oyster AMM, has recorded over $210 billion in trading volume since launch, making it the largest perp DEX on Base and the third largest across all EVM and non-EVM chains.
The launch of SynFutures Foundation and F marks the next step in SynFutures' successful journey toward creating an open, permissionless, and decentralized financial infrastructure for everyone.
Transitioning power to the community
The SynFutures Foundation, alongside the community, will oversee development, foster partnerships, and drive community-led governance to ensure a truly permissionless financial ecosystem. This includes initiatives such as project collaborations, grants and funding for third-party developers, community initiatives, hackathons, and similar programs.
The F token, based on Ethereum Mainnet, accords the SynFutures community with governance rights while offering benefits such as fee discounts, staking rewards, and future airdrop boosts. With 10 billion tokens allocated strategically across Community, Backers and Advisors, Foundation Treasury, Core Contributors, Protocol Development, and Liquidity, F represents a fair and balanced approach to rewarding early supporters and community members and ensuring sustainable growth.
The project has allocated 28.5% of its total F supply toward the Community. A part of this allocation, equivalent to 7.5% of the total supply, will be distributed as part of the Season 1 Airdrop on December 6, 2024, to reward users who engaged consistently with SynFutures v1 to v3.
SynFutures used various parameters to assess users' eligibility for the Season 1 airdrop, including trading activities on v1 and v2 and points accumulation through trading on v3. Long-term and active users who have consistently traded on multiple versions of the SynFutures protocol will be eligible for a bonus. Early adopters will also be rewarded with a portion of the airdrop.
Between December 2 to December 5, users can participate in Bybit's launchpool to earn F tokens prior to token listing. Users can also participate in staking on Gate.io to earn a portion of 75,000 $F tokens on launch day.
"Since day one, decentralization has been at the heart of SynFutures' mission. With the Foundation and F token, we're a step closer to that milestone and are empowering the community to shape the protocol's future," said Rachel Lin, Co-Founder & CEO of SynFutures.
Building a full-stack DeFi solution
One of the biggest milestones for SynFutures going forward is expanding its onchain financial services and building a community-centric full-stack finance ecosystem. It will expand its offerings beyond perp trading and gradually add more services including spot aggregation, and wealth management, among others.
About SynFutures
SynFutures (F) is a leading decentralized exchange and full-stack financial infrastructure provider. Utilizing its innovative Oyster AMM model and a fully onchain order-matching engine, SynFutures enables anyone to list and trade any asset with leverage. As the top perpetual futures DEX on multiple networks like Base, it introduced the industry's first Perp Launchpad, attracting bluechips, memecoins, and more.
Backed by top-tier institutions like Pantera, Polychain, Dragonfly, Standard Crypto, Framework, and SIG, SynFutures is building an all-in-one platform for spot, perpetual, and wealth management, streamlining DeFi for all.
To learn more, visit www.synfutures.com
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