SynFutures is a decentralized crypto derivatives exchange that uses smart contracts to automate pricing, settlements, and PnL analysis. The company is rolling out Oyster, a proprietary automated market maker (AMM), to simplify trading and listing on-chain. It aims to improve capital efficiency by enabling on-chain orderbook functionalities typically found in traditional finance. Target users are high-net-worth individuals and small institutions; the protocol has about 100,000 all-time traders and $21 billion in trading volume since October 2021. SynFutures operates a lean team of around 20 employees, relying on smart contracts to automate listings and operations. Management expects another DeFi boom in the next two years and has ambitions to compete with centralized exchanges and traditional financial firms. The company faces security risks from smart-contract bugs and regulatory uncertainty around DeFi compliance and KYC/AML approaches. SynFutures operates a synthetic assets derivatives exchange that supports ERC-20 tokens, cross-chain assets, and any instrument with an external price feed, allowing users to take leveraged long or short positions. The platform applies rigid modeling and risk management practices borrowed from traditional finance to protect users and mitigate oracle manipulation. SynFutures uses an Automated Liquidator (ALQ) smart contract to perform automatic liquidations and lets any user run ALQ to trim undercollateralized positions. The company is onboarding users in a closed alpha and plans a mainnet launch next month. It is developing new products including Hash Rate Futures, an Auto-Hedger to mitigate impermanent loss, and cross margining to reduce margin requirements. The company has raised funding to date and is expanding its product suite for a broader trading experience.

Total raised

$36M

Funding rounds

2

Latest round

Series B

Latest activity

Oct 2023