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, the leading DeFi derivatives protocol, has just crossed $100 billion in cumulative trading volume on Blast. The milestone comes less than four months following the Blast mainnet launch and ahead of the L2 network’s airdrop this week.
After being named a winner of Blast’s Big Bang competition, SynFutures was among the first decentralized applications to launch on Blast. The protocol quickly became the network’s top perpetual trading exchange, capturing 83% of Blast’s volume market share by the end of Q1 , with an average of $7 to 8 billion in weekly trading volume.
SynFutures has also collaborated with leading projects on Blast, including Pacmoon, Ring Protocol, Renzo, ether.fi, Kelp DAO, Pyth Network, Mangrove, District One, eesse, and ZAP, to boost activity and awareness further.
“Blast’s innovative native yield functionality was a key factor in our decision to launch V3 on the L2. We’ve seen an overwhelming response from the Blast and wider Web3 community, who have discovered our perps DEX and return again and again to trade the wide variety of assets available on SynFutures. Looking beyond the first Blast airdrop, we plan to introduce even more features and updates for the Blast community,” said Rachel Lin, co-founder and CEO at SynFutures.
Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group , Dragonfly Capital, Standard Crypto, and Framework Ventures, and the team has extensive experience at global financial institutions, fintech companies and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.Best AI Crypto Coins in 2024: Top 9 Projects to WatchOne Weekly Email Can Change Your Crypto Life.
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