30s Summary

SynFutures, a continuous derivatives trading platform, plans on launching its F token and setting up a foundation to decentralize its structure. The platform, which recorded over $235 billion in trading volumes, intends to distribute 10 billion F tokens between 2025 and 2028. SynFutures completed three funding rounds, raising nearly $38 million, with substantial backing from Polychain Capital and Pantera Capital. The platform also launched an automated market maker, Oyster, in 2021.

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SynFutures, a continuous derivatives trading platform, is taking steps to become more decentralized by starting a foundation and sending out a governance token. They’ve also completed three rounds of funding and started up an automated market maker called Oyster last year.

Their goal is to provide a free-for-all derivatives market that anyone can access. They said they’re ready to list any item that has a price. To date, they have 330 trading pairs and have recorded a massive $235.1 billion in overall trading volume. $71 billion of this volume was traded in this year’s third quarter alone. SynFutures also had $26.5 million in locked total value in this period.

They’re planning to release a token called F Token (F). This will be an ERC-20 token on the Ethereum network. While a definite date for the token creation hasn’t been given, they’re planning to dispense the total supply of 10 billion tokens between December 2025 and November 2028.

More specifics on the token regulation will be revealed after the launch and the incentives for stacking the token will be finalized in “Season 2.” The token will be shared among the community, financiers, advisors, treasury, main supporters, software development, and liquidity.

SynFutures kicked off in January 2021 with a seed-funding round raising $1.4 million. By June 2021, they carried out a Series A round headed by Polychain Capital, and raked in another $14 million. Other big names like Pantera Capital, Framework, and Wintermute also got involved.

In 2023, Pantera Capital led a $22 million Series B funding round, which also saw participation from Susquehanna International Group and HashKey Capital. This was also when Version 3 of their testnet was launched, and Oyster AMM was introduced, enabling users to bid on endless futures without any administrators.

They’ll apparently use an Oyster points program to decide how to distribute the F tokens among the SynFutures community.