SynFutures Becomes Polygon’s Biggest DeFi Derivatives Exchange
With $800+ billion in average monthly trading volume, SynFutures is now the most popular decentralized derivatives exchange on Polygon.
We’re excited to reveal that SynFutures is now the biggest crypto derivatives exchange in the Polygon ecosystem!
With more than 7,000 decentralized applications (dApps) deployed on its network, including some of the leading DEXs in the space, Polygon is consistently at the top of the rankings for blockchain protocols. As of February 2022, the network had processed more than 23 million blocks, 1.3 billion transactions, and 136 million unique addresses.
Today, after deploying on the network in 2021, Polygon is our most active chain and home to nearly $1 billion in average monthly trading volume. To date, more than 80 trading pairs have been listed and 26,000 users have traded on Polygon.
The news comes on the heels of our recent 2022 roadmap announcement, where we revealed our product launches and major ecosystem updates for the year.
As part of our multi-chain strategy, we plan to continue deploying on both EVM and non-EVM compatible chains but Polygon will continue to remain an important ecosystem for SynFutures moving forward.
“While we first deployed on Ethereum, we realized it was critical to expand to networks that had the capacity to support the volume of derivatives trading we now see on a weekly and monthly basis while ensuring low fees for our traders,” said Rachel Lin, co-founder and CEO at SynFutures. “With a robust DeFi dApp ecosystem and long-term solutions for scalability in the blockchain space, Polygon is an ideal network to expand our suite of derivatives products and services now and in the future.”
We’d like to extend our thanks to the Polygon community that has welcomed us and made our deployment so successful. We look forward to sharing more news and updates in the future.
For more insights into SynFutures’ success on Polygon, check out our CMO Mark Lee’s recent interview with Polygon TV .
SynFutures is a next-generation derivatives exchange focused on creating an open and trustless derivatives market by enabling trading on any device with proper price feeds. By cultivating a free market and maximizing the variety of tradable assets, SynFutures is lowering the barrier for entry in the derivatives market, creating a more equitable exchange market for digital assets.
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.