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Gungun Bhatia
Dec 13, 2022
by Gungun Bhatia

SynFutures Says New V2 Upgrade Adds Permissionless Listing of Futures

SynFutures V2 Upgrade

Table of contents

  1. SynFutures Funded by Polychain and Dragonfly
  2. SynFutures V2 Upgrade to Add sAMM
SynFutures, a decentralized exchange on the Polygon platform, has announced the release of its new V2 upgrade. It enables the permissionless listing of futures trading pairs.

SynFutures Funded by Polychain and Dragonfly

The Singapore-based startup claims the latest improvement might satisfy rising demand in decentralized finance, or DeFi, among retail traders. The company is funded by the cryptocurrency investment companies Polychain and Dragonfly. According to a press release from SynFutures, the trend gained momentum when Sam Bankman Fried's-FTX exchange failed, and Three Arrows Capital provided a feeling of urgency to the requirement for openness and retail user safeguards.

The business claims that with the change, traders may enjoy permissionless listing of any futures trading pairs, resulting in a greater assortment of alternatives.

SynFutures V2 Upgrade to Add sAMM

According to SynFutures, its V2 upgrade has also added the Synthetic Automated Market Maker (sAMM) technology. This innovation enables liquidity companies to provide only one asset of a trading pair, such as a stablecoin, as compared to an equal number of both tokens, as is typical with most AMMs. SynFutures claimed other enhanced features include refining the user interface with a one-click design and bolstering risk-management measures.

With a $1.4 billion monthly trading activity, SynFutures is the biggest DEX for cryptocurrency derivatives on Polygon, according to the business. The company reported raising $14 million in a Series A fundraising round led by Polychain in June 2021, increasing the total cash raised so far to $15.5 million.

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Cryptocurrency Decentralized Finance (DeFi) Polygon SynFutures Permissionless Listing of Futures Synthetic Automated Market Maker (sAMM)
SynFutures Says New V2 Upgrade Adds Permissionless Listing of Futures
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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