SynFutures V2 has several new trading features. that helps provide a better experience for both casual users and LPs.
After long expectation It’s finally time to launch SynFutures V2, the latest version of the Decentralized Derivatives Exchange (DEX).
The release of this V2 (including the whitepaper) marks a key moment in SynFutures’ roadmap as a step towards improving platform usability. Including the issue of greater user experience (UX), which has been a problem in the DeFi world for some time.
These updates and features will lead to the most user-friendly, fastest and most secure SynFutures trading experience to date.
for continuous platform improvement At the same time as feedback from internal teams and the community is constantly being developed, the V2 launch will be launched in three steps:
Phase 1: V2 Testnet (now)
Phase 2: V2 Closed Alpha (May/June 2022)
Phase 3: Public V2 (Q3 2022)
For updates and product releases coming with V2 for an in-depth look. click here This is a Whitepaper V2 with insights from leaders and experts in the DeFi world.
Not registered for V2 testnet access? sign here
From the foundation of SynFutures v1
In 2021, we are launching SynFutures V1, the first iteration of the Decentralized Derivatives Trading (DEX) board after the successful Closed Alpha. We have moved to the Open Beta version in October.
In a short time, V1 has fulfilled our initial goal of being an open, decentralized and license-free futures market. Users can specify their preferred futures trading pairs with just a few clicks. and a single digital currency As of today, over 57,000 duplicate addresses have interacted with our smart contracts. Cumulative trading volume exceeded $3 billion in mid-January 2022, over $4 billion in February 2022 and $5 billion in March. That equates to $1 billion in monthly growth.
However, there are still areas for improvement, and with this V2, SynFutures is introducing several major updates and products:
Perpetual Futures
This new trading feature provides traders with a permanent, non-authorized list of futures contracts. Unlike unstable funding mechanisms, SynFutures v2 Perpetual Futures has the unique feature of ensuring the convergence of futures prices with spot prices for a pre-defined period of time.
DAO Futures
In SynFutures V1 will use USDC, USDT, DAI and ETH initially as margin, with WBTC, MATIC and BNB added later, and as part of our multi-chain strategy, V2 can use native network tokens. USD Stablecoin and DAO-issued tokens with a large community base to serve as margin in each deployed network.
NFT Futures
NFT futures trading products work similarly to social apps like Tinder, with NFtures allowing users to “swipe” left or right on the NFT or NFT’s basket to hold short buy or sell positions.
The newest sAMM model
Although the fixed product AMM for each expiration date remains the same. But there is a huge upgrade in version 2 to improve the LP experience.
SynFutures V2 no longer requires an LP to set a starting price for a new expiration date. The initial price will be booted from the spot and maturity price instead.
SynFutures V2 also offers a new way of providing liquidity to increase capital efficiency and flexibility for advanced LPs. The new sAMM model has been developed to combine the best of two worlds:
- Normal sAMM where ordinary users can increase their liquidity with just two clicks.
- The range and type of order book that advanced users can provide liquidity with traditional market algorithms. The details of the model will be described in detail later in a separate technical document.
Limit Orders
The sAMM model is enhanced with a Limit Order so that LPs can provide liquidity with traditional market algorithms. Limited purchases are available for permanent and expired future orders. for all formats including long-tail assets
Intuitive UI
SynFutures V2 offers an upgraded and easy-to-use user interface. which rivals the CeFi platform as being fully decentralized.
Seamless UX
SynFutures V2 uses a fundamentally based smart contract structure. and simplifying the user’s on-chain interaction. Additionally, with the shared margin, capital efficiency and UX blind spots have been greatly improved.
Shared margin account
Compared to SynFutures V1 fixed margin model, the shared margin account model on V2 improves traders’ margin efficiency by up to 200%, giving traders the option of short positions and longer, more flexible
What will the future look like?
While the launch of this V2 has just begun. We have been thinking about future developments. This includes listing cross-chain non-authorized assets and cross-chain liquidity. Other developments are also available, including Auto Hedger to prevent impermanent loss. ) and advance lending (Futures-backed lending)
As a fresh start with V2, SynFutures hopes to thank the community of LP traders and users, and as always, if you have any feedback, we would greatly appreciate it.
As we begin this new journey V2, we’d like to extend our thanks to our community of traders, LPs, and users. As always, your feedback is welcome and appreciated!
For more information, please contact: Discord or Telegram. Register for early access now.