SynFutures V3, the latest version of the decentralized derivatives trading protocol, is live on Blast mainnet.
Now that they’ve brought permissionless perps to Blast, users can reportedly “earn up to 3x the rewards potential through Blast, Blast Gold (Big Bang developer airdrop allocation), and our new points program, O_O, or Oyster Odyssey.”
They’re also airdropping O_O points “to Blast, dYdX, GMX users, and Pudgy Penguins holders for one day only.”
As explained in a blog post, liquidity providers can “receive triple airdrop opportunities from the Blast native token airdrop, 50% of SynFutures’ Blast Gold, and O_O point rewards.”
As noted in the update, traders can also “get 3x rewards from the Blast airdrop, the other 50% of SynFutures’ Blast Gold, and $500,000 in SynFutures Grand Prix trading competition rewards.”
The announcement also mentioned that traders, LPs, and participants in previous events “will receive corresponding rewards in the future.”
Along with their deployment on Blast and O_O, they’re pleased to reveal they’re “exploring the path to a token.”
Launch details and a timeline “will be shared soon.”
Launched in 2021, SynFutures claims that it has “become one of the most actively used perps DEXs in Web3, surpassing more than $23 billion in total trading volume and 100,000 users. Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Dragonfly Capital, Standard Crypto, and Framework Ventures, and team members have extensive experience at global financial institutions, fintech companies and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, and Deutsche Bank.”
SynFutures employs rigid risk management and security practices, “from its Quantstamp-audited smart contracts to advanced risk management mechanisms to enhance user protection and price stability.”
This milestone follows their Public Testnet and Alpha phases, “the first of which began in October 2023.”
Later in November, they shared their intentions “to launch the mainnet version on Blast, given the native yield and other benefits.”
The enthusiasm from their community and the growing Blast ecosystem was immediate. Once deployed on the Blast testnet, SynFutures V3 saw “over 12,000 transactions in 24 hours, accounting for 10 percent of all Blast testnet transactions.”
Their win in the Blast Big Bang competition further ignited the interest of clients.
Out of hundreds of dApps building on Blast, SynFutures was “chosen to receive promotional support from the Blast team and a piece of the Blast airdrop, among other incentives.”
While the mainnet has just launched, they’re pleased to be among the top projects on Blast!
If you’ve traded during the V3 Public Testnet, you’ll find “the trading and LP experience quite similar. Among the most notable updates is the introduction of Oyster AMM (also referred to as an oAMM) ), an innovative market maker (MM) model that combines the best of the order book and AMM to maximize capital efficiency and serve a broader range of traders and investors.”
Oyster AMM embraces two-sided liquidity but “only requires a single token, eliminating the need to provide liquidity for both ends of a token pair and enhancing the overall efficiency of the trading ecosystem.”
Oyster AMM offers a unified liquidity system “tailored to active traders and passive liquidity providers and a fully on-chain order book to guarantee transparency, trustlessness, and anti-censorship.”
Along with their V3 mainnet rollout, the team says they are “launching a new points system, Oyster Odyssey, or O_O for short.”
Starting today, users can “visit the V3 mainnet and earn points, which will be crucial in their journey toward.”