SynFutures Releases 2022 Roadmap Ahead of V2 Launch
On the heels of reaching more than $4 billion in cumulative trading volume, we’re sharing the ecosystem updates and product launches our community can expect this year.
Since we first introduced SynFutures to the world last year, our team has made great strides as we work to bring our decentralized derivatives products to markets around the world.
2021 saw some significant milestones: the public beta launch of SynFutures V1, the release of the world’s first Hash Rate Futures, and our first steps toward DAO-style governance, for example. (Read our full 2021 recap here.) But with the release V2 quickly approaching and many other exciting releases in store, this year will be even more exciting.
That’s why we’re sharing our 2022 roadmap. While a roadmap is a living document and subject to change, the sections below offer an extensive overview of what our community can expect this year.
As always, we welcome your feedback and questions on Twitter, Discord, and Telegram. If you already, be sure to join our Discord channel #Syntalk where we regularly hold AMAs to answer your questions about updates, new partnerships, and more.
Q1 2022: V2 Testnet and Perpetual Futures
One of our biggest updates is coming soon: the much-anticipated launch of SynFutures V2. (You can register for early access now.)
We’ll begin with testnet launch in Q1, followed by a closed Alpha for our most active users.
V2 will bring several major updates to our existing platform, all of which will be outlined in our V2 whitepaper set for release next month. Most notably, V2 will introduce perpetual futures and have an improved user interface and user experience, making derivatives trading on SynFutures even more frictionless than it is now.
V2 product launches in Q1 will include:
Perpetual Futures
Perpetual Futures is one of the most sought-after derivatives offerings in the current DeFi market. SynFutures’ offering will improve upon existing perpetual swaps products in the space while inheriting the advantages from SynFutures v1 term futures.
The experience offered through SynFutures’ Perpetual Futures will be similar to perpetual swaps offerings from centralized exchanges but our unique design preserves guaranteed price convergence to spot index of dated futures while avoiding all the operational overhead involved in managing multiple dated futures positions. Thanks to the simple and conventional settlement logic, this design achieves daily funding without any artificial and obscure calculation of funding payments used in existing perpetual swap designs. These features enable SynFutures’ Perpetual Futures to support native permissionless listing, even for long tail assets with subpar liquidity and sparse trading activities.
Coin-margined Futures
When V1 launched, only USDC, USDT, DAI and ETH were allowed to be used as margin and later WBTC, MATIC and BNB were added to the list. Because SynFutures is embracing a multi-chain strategy, native network tokens will be allowed to be used as margin along with popular USD stablecoins on each network. Additionally, news tokens on any network SynFutures is deployed could be added to the margin token list by going through a DAO based governance process.
With the expanded list of margin tokens, liquidity providers (LPs) will be able to provide liquidity with their preferred store of value while traders will be able to use their preferred token as collateral. The team is working with a number of strong partner projects to co-release coin-margined futures.
The SynFutures Leadership Program will also launch in Q1. A community initiative, the program will reward community members for their efforts in teamwork. The users who rise to the top of the leaderboard will receive NFTs and other prizes.
Q2 2022: NFTures & Blockchain Deployment
The second quarter of 2022 will see several updates, including a Closed Alpha for V2. Product updates will include:
NFTures
NFTures is the world’s first derivatives product that enables users to take long or short positions in individual NFTs like CryptoPunks, Art Blocks, and Bored Ape Yacht Club, or a basket of NFTs comprised of multiple assets. Designed to be simple and intuitive for retail audiences, NFTures offers a gamified user interface (UI) akin to dating apps like Tinder, allowing users to trade NFT derivatives with just a couple of taps.
Limit Orders
SynFuture’s sAMM model will be enhanced with limit orders so that liquidity providers (LPs) could also provide liquidity with traditional market making algorithms. Limit orders will be enabled for perpetual and dated futures for every underlying, including long tail assets.
As part of our plans for mult-chain deployment, SynFutures will expand to new EVM-compatible chains. During the first community proposal vote, Avalanche was chosen as the next chain on which SynFutures will be deployed. We also plan to launch on NEAR-Aurora and Fantom, respectively, based on the order of the voting results. SynFutures is currently deployed on Ethereum, Polygon, BNB Chain (formerly BSC) and Arbitrum.
Institutional market services designed to attract more institutional traders and professional market makers to the platform are also expected to release in Q2. By upgrading our smart contracts and introducing more advanced functions in UI, we’re making it easier for institutions to provide liquidity and participate on our platform.
Q3 2022: V2 Open Beta
Public beta for SynFutures V2 is expected to launch in Q3. During this period, our team will gather user feedback, address any issues, and improve the platform.
Other developments will include:
Trading Programs — 2.0
While our current trading programs have been popular, we will refresh these initiatives with expanded options to make them even more engaging, enjoyable and rewarding for the community.
Expected updates include mult-chain trading options, term futures, and options for professional traders, but we’ll share more details in Q3.
Anti-MEV
As more users enter the DeFi space, MEV attacks, which include front running, back running, and sandwich attacks, are becoming more prominent on Ethereum and other smart contract chains. These issues are especially common in spot DEXs but wreak havoc on users across multiple trading platforms.
We plan to release a mechanism to help protect users against these attacks in Q3.
Q4 2022: New AMM Model and Deployment on Non-EVM Chains
Toward the end of the year, we’ll welcome a new AMM model with ranged liquidity provision. This model is designed to further enhance capital efficiency and flexibility for advanced LPs regarding perpetual futures of major pairs with ample liquidity and market participants.
Q4 will also see the launch of Cross-chain Futures. Like Bitcoin Hash Rate Futures, Cross-chain Futures will use oracle data to support assets across multiple chains. The ultimate goal of the product’s release is to give traders the ability to trade popular, trending assets anywhere, i.e. on any chain.
Before the end of the year, SynFutures is also expected to expand to non-EVM chains, including Solana and Terra, among others.
Moving into 2023 and beyond, we look forward to continuing to improve our platform, introducing new products and initiatives, and finding new ways to engage with our community.
Want to be among the first users of SynFutures V2? Register for early access.
About SynFutures
SynFutures is a next-generation derivatives exchange focused on creating an open and trustless derivatives market by enabling futures trading on anything, anytime, anywhere. By cultivating a free market and maximizing the variety of tradable assets, SynFutures is lowering the barrier to entry in the derivatives market, creating a more equitable derivatives market.
