SynFutures launches an innovative Perptual Futures platform on Base

In July of this year, the Base ecosystem welcomed an important new member: SynFutures. To date, SynFutures has achieved a trading volume of $26 billion on Base, accounting for more than half of the market share in the Base ecosystem's Perptual Futures track.

Recently, SynFutures launched the Perp Launchpad platform on Base, creating a new model for the issuance of Perptual Futures. This innovative initiative is set against the backdrop of current bottlenecks in the growth of PerpDEX, where major participants have already divided most of the profit opportunities.

Perp Launchpad: Simplified Perptual Futures Issuance

Perp Launchpad provides liquidity and price discovery mechanisms for Restaking and Meme coin projects through low gas fees, efficient capital utilization, and large subsidies. The platform allows any token to launch perpetual futures trading pairs without permission.

Main advantages include:

• Lower the market access threshold for Perptual Futures
• Quickly build depth through LP incentives
• Utilize Base's low gas advantage for quick deployment

Taking Lido as an example, its wstETH/ETH Perptual Futures achieved a trading volume of $260 million within two months of its launch, a peak TVL of nearly $920,000, and the participation of nearly 2,000 users.

Investor Perspective: Opportunities and Risks Coexist

For on-chain investors, SynFutures offers multiple profit opportunities:

• LP market making returns (annualized up to over 50%)
• Community Division
• Potential token airdrops and point rewards

At the same time, it also provides new tools for Restaking asset and Meme coin risk management.

However, investors should be vigilant:

• The cyclical liquidity of the Perptual Futures market
• The price fluctuations that may be brought about by newly launched trading pairs
• The impermanent loss risk faced by LP market making

New Opportunities for Restaking Assets

SynFutures collaborates with leading Liquid Staking projects to provide new monetization channels for Restaking assets. This may bring:

• More Restaking assets enter the Perptual Futures market
• The enhancement of LRT token liquidity
• The emergence of new Restaking derivatives

It is worth noting that BTC Restaking assets are becoming the new favorite in the Perptual Futures market. For example, the pumpBTC/ETH and SolvBTC/ETH Perptual Futures have performed outstandingly, with 24-hour trading volumes reaching 429.3K and 341.8K respectively, and TVL sizes of 12M and 5M respectively.

Possible reasons for this phenomenon include:

• The popularity of the BTC Restaking track
• The price correlation of BTC and ETH provides a pricing benchmark.
• The speculative demand brought about by the intensified competition among Restaking agreements.

Performance of Meme Coin Perptual Futures

Contrary to expectations, the performance of Meme coin Perptual Futures has been relatively flat:

• BONK/USDC Perptual Futures: 24-hour trading volume 7.7K, market depth 405.3K
• PEPE Perptual Futures: Daily average trading volume is between 5K-10K, with market depth ranging from 300K-500K.
• Other Meme tokens performed weaker.

This phenomenon may stem from:

• High risk brought by the combination of high leverage and high volatility
• The imbalance in perpetual fees caused by the speculative nature of the Meme coin spot market
• LP faces a higher risk of impermanent loss.

Summary

SynFutures' innovation essentially redefines the issuance model of Perptual Futures, opening the derivatives market for various tokens. It not only lowers the issuance threshold of Perptual Futures but also provides an important value discovery channel for various assets.

This inclusive strategy, although risky, may be a necessary path for Perptual Futures to enter the mainstream market. In the current market environment, this innovative approach might create unexpected value.