Introducing SynFutures Perp Launchpad: The First Ever in DeFi
We’ve come a long way in crypto. There was a time when you had to wait for a centralized exchange to list tokens so you could trade them. Decentralized exchanges and their spot token launchpads changed the game.
Today, any project or any user can create a liquidity pool and launch a token on a DEX almost instantly.
However, perpetual futures for crypto tokens currently remain gated. CEXs or perp DEXs retain autonomy over what perp trading pairs they list on their platforms.
That changes with the introduction of SynFutures Perp Launchpad.
In this article, we explain what the SynFutures Perp Launchpad is, why it matters for projects and tokens, and how you can launch a perp futures market for any asset.
SynFutures Perp Launchpad: An Introduction
The SynFutures Perp Launchpad is the first ever crypto launchpad focused on crypto derivates markets instead of spot markets. That means SynFutures is creating an open platform for anyone to launch a perps market for any asset, similar to what’s possible for spot markets on most DEXs today.
Why does this matter?
According to DeFi Llama, perp DEXs have seen a cumulative trading volume between $100 to $300 billion every month for the last year. This highlights the significant interest of crypto traders in derivatives markets.
This is even though only a small percentage of crypto tokens get a perp market launch on the top perp DEXs. Many of the largest memecoins and some highly popular altcoins never get their own derivatives market, cutting out a great opportunity for traders and token owners.
The SynFutures Perp Launchpad creates an open ecosystem for any token to create a derivatives market listing on SynFutures. Initially, the Perp Launchpad is only available for tokens on Base, but we aim to expand the offering across multiple chains as we expand the ecosystem.
For traders, this means that they get access to derivatives of a wider range of crypto assets that may not be available across other CEXs or DEXs. This is especially beneficial for memecoins that retain a significant brainshare in crypto. Traders can finally participate in leveraged trading of these assets and better capitalize on market movements.
The Million Dollar Opportunity
Launching a derivatives market comes with its own set of requirements. To support projects that use the Perp Launchpad to create a derivative for their tokens, we have established the Perp Launchpad Grant.
We have allocated $1 million to the grant that emerging projects can use for marketing, liquidity, campaigns, and trading incentives.
To ensure we create maximum impact with the grant, we have set some base criteria as follows:
- ERC-20 token on Base
- Launch date no earlier than June 30, 2024.
- Last 24H market cap less than US$ 1 million.
- Active social handles and online/offline community events.
- A price oracle.
If you fit these requirements, we’d love to hear from you.
Apply for the grant here.
