The new product enables anyone to launch perpetual futures markets for any asset, fostering innovation in the DeFi space amid the rise of memecoins and long-tail assets.
SynFutures, a leading decentralized derivatives protocol, announced the launch of its Perp Launchpad, the first launchpad product focused on derivatives markets rather than spot markets. The new product allows any project to launch perpetual futures markets for any native asset. Alongside this launch, SynFutures is unveiling a $1 million Perp Launchpad Grant program to support emerging projects in listing their tokens and enhancing their visibility within the rapidly expanding on-chain markets.
The crypto market has recently witnessed a surge in memecoins and other long-tail assets capturing the attention of retail traders. Designed to complement trending spot markets with open and efficient derivatives markets, SynFutures’ Perp Launchpad enables projects to unlock new token demand and utility, providing their communities with passive LP (liquidity provider) rewards and more ways to trade and hedge risk through leveraged perpetual futures trading.
Perp Launchpad also pioneers the on-chain derivatives space by supporting coin-margined perp markets with single token concentrated liquidity, as well as a vault feature that helps optimize liquidity to generate consistent yields for liquidity providers.
Catch more Fintech Insights : Global FinTech Interview with Yaacov Martin, CEO at The Jifiti Group
Launching First on Base
The initial launch of Perp Launchpad will take place on Base, allowing projects to launch perp trading pairs for any native asset on the growing L2 network. The launch follows a successful launchpad pilot program with established LST, LRT, and stablecoin projects like Lido, Solv Protocol, and PumpBTC.
SynFutures has been a significant contributor to the Base ecosystem growth. Since the Base expansion of V3, the latest iteration of the SynFutures protocol in July 2024, SynFutures has accounted for more than 50% of the total derivatives trading volume on Base, amounting to over $23 billion in cumulative trading volume and 138,000 on-chain users.
$1 Million Grant Program for Emerging Projects
To further support emerging projects and cultivate a thriving on-chain derivatives ecosystem, SynFutures has allocated $1 million through the Perp Launchpad Grant. Individual projects can receive grants in the form of campaign support, liquidity provision, and trading incentives, as well as co-marketing and promotional support to activate new listings.
“Providing access to derivatives markets for emerging tokens is crucial in today’s dynamic trading environment,” said Rachel Lin, Co-Founder and CEO at SynFutures. “By enabling perpetual futures markets for new and trending tokens, we’re not only meeting the market demand but also supporting the growth and diversification of the DeFi ecosystem. Our Perp Launchpad and Grant Program are designed to empower these projects, offering them the tools and resources they need to bring more utility and depth to their tokens.”
The Perp Launchpad Grant builds upon SynFutures’ successful track record of supporting emerging tokens. Previous initiatives like the DAO Perps Program and Meme Perp Summer have supported various projects, including DEGEN and MEW, both of which have seen significant success since their listings on V3 in July and August 2024, respectively.
Unique Opportunities for Traders
For traders, the Perp Launchpad offers the chance to access a wider range of assets, including trending tokens that may not be available on other platforms across CeFi and DeFi. As memecoins and long-tail assets continue to drive attention, traders can engage in leveraged trading to capitalize on market movements and potential arbitrage opportunities. The platform also offers various incentives such as trading competitions and promotional events, providing traders with additional avenues to enhance their returns while participating in the on-chain economy.
Read More on Fintech : Global Fintech Interview with Jon Briggs, Head of Commercial Product & Innovation at KeyBank
[To share your insights with us, please write to psen@itechseries.com ]
