SynFutures V3 Launches on Base, Kicking Off Meme Perp Summer

Singapore, Singapore, July 2nd, 2024 – Chainwire

SynFutures, a decentralized protocol for on-chain trading of perpetual contracts for any asset, has launched on Coinbase’s Layer 2 network, Base. Users can now trade and contribute liquidity on SynFutures V3 within the Base ecosystem and earn Oyster Odyssey (O_O) points.

To celebrate the launch, SynFutures will introduce a variety of new listings over the coming weeks as part of its "Meme Perp Summer" campaign — a six-week initiative aimed at expanding community asset offerings and rewarding meme enthusiasts on Layer 2.

SynFutures’ expansion onto Base follows the remarkable achievement of its V3 on Blast, which has recorded over $100 billion in cumulative trading volume in under four months. This success has established it as a leading perpetual decentralized exchange (DEX) across multiple chains and one of the most active decentralized finance (DeFi) applications in the Web3 space. The platform’s innovative Oyster AMM combines a concentrated liquidity model with an on-chain order book, aspiring to deliver the premier on-chain futures trading experience for various assets within the Base network.

Launch Partners and Meme Perp Summer

SynFutures has collaborated with notable projects in the industry, launching tokens from the SocialFi leader Degen and the Web3 gaming protocol Iskra, among others, to initiate the Meme Perp Summer festivities.

New asset pairs include:

• $DEGEN/WETH
• $CHOMP/WETH
• $BOOMER/WETH
• $ISK/WETH

Alongside popular meme tokens, SynFutures will support liquid staking derivatives (LSD) and liquid staking tokens (LRT), which are essential for enhancing liquidity and yielding organic returns in the on-chain environment. Newly listed LSD and LRT pairs feature:

• wstETH/ETH from Lido
• weETH/ETH from ether.fi
• wrsETH/ETH from Kelp DAO

SynFutures is leveraging Chainlink’s decentralized blockchain oracle network to provide critical price oracle services for its Base deployment.

Fee Promotion for Major Asset Pairs

In conjunction with Meme Perp Summer, SynFutures is rolling out a temporary promotion across all networks for major trading pairs, including BTC and ETH. Beginning July 1, 2024, the team has reduced the trading (taker) fee for these pairs from 3 basis points to just 2 basis points.

Furthermore, to enhance the trading experience, all participants will benefit from the top-tier VIP fee level during this promotional phase.

Expansion of Oyster Odyssey Points

SynFutures reassures Blast users that the O_O points accumulated during the Blast Season will remain unaffected by the launch on Base. The overall reward pool has been increased, and rewards distributed on Base will be distinct from, and in addition to, those available on Blast.

About SynFutures

SynFutures is a decentralized perpetual futures protocol designed to enable open and transparent trading across various assets and listings seamlessly. The launch of the V3 Oyster AMM introduced the first-ever unified AMM along with a permissionless on-chain order book. Supported by prominent investors such as Pantera, Polychain, Standard Crypto, and Hashkey, SynFutures has successfully processed over $100 billion in trading volume since its inception in 2021.

For inquiries, contact Mark Lee.