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<h3>Fireline Report</h3>
<p>SynFutures (F), a decentralized derivatives exchange, will launch Upbit's Korean Won and USDT trading pairs at 4:00 PM on October 21st. Within 15 minutes, F saw its highest increase of 132.63%.</p>
<h3>Trading Guide</h3>
<p>Driven by events, short-term bullish acceleration period, pay attention to the high point of 0.0218 USDT, if it retreats and fails, then sell while you are ahead.</p>
<p style="margin-top: 20px; text-align: left; opacity: 0.4; padding: 0 42px"><small>Updated at 10-21 14:32</small><br><small>AI-generated summary, not investment advice</small></p></div>

<h1>Analysis of SynFutures ($F) Upbit Listing and Liquidity Mechanism Upgrade</h1><h2> TL;DR</h2><p> SynFutures ($F) officially launched on Upbit, a major South Korean exchange, at 16:00 KST (07:00 UTC) on October 21, 2025, supporting F/KRW and F/USDT trading pairs. The announcement sent the token price soaring over 130% to $0.02082. The protocol is also developing a major liquidity upgrade, Oyster AMM V3, which combines single-token centralized liquidity with an on-chain order book model. A private beta launched in mid-October.</p><h2> Core Analysis</h2><h3> Upbit listing details</h3><p> <strong>Launch time</strong> : October 21, 2025, 16:00 KST (07:00 UTC). Deposits and withdrawals will be open 1.5 hours before trading begins.</p><p> <strong>Trading Pairs</strong> :</p><ul><li> F/KRW (Korean Won spot trading pair)</li><li> F/USDT (USDT spot trading pair)</li></ul><p> <strong>Technical requirements</strong> :</p><ul><li> Only supports Ethereum network (ERC-20)</li><li> Contract address: <code>0x6e15A54B5EcAc17e58daDedDbe8506a7560252F9</code></li><li> The first day&#39;s trading restrictions include buy order restrictions in the first 5 minutes and price order restrictions in the first 2 hours.</li></ul><p> <strong>Market reaction</strong> : The listing news pushed the price of $F up by more than 130% from approximately $0.009169 to $0.02082, indicating strong market expectations for entering the <a href="https://coinmarketcap.com/cmc-ai/synfutures/latest-updates/">Korean</a> market.</p><h3> Liquidity mechanism upgrade (Oyster AMM V3)</h3><p> <strong>Core innovation</strong> :</p><ul><li> <strong>Single-token centralized liquidity</strong> : LPs can use a single token (e.g., USDC) to provide liquidity within asymmetric price ranges, increasing capital efficiency by up to 40,000x.</li><li> <strong>On-chain order book integration</strong> : Unify limit orders and AMM curves, prioritize matching orders before consuming AMM liquidity</li><li> <strong>Stabilization mechanism</strong> : Dynamic penalty fees prevent price manipulation, and continuous funding rates make perpetual contract prices converge to spot prices.</li></ul><p> <strong>Implementation timeline</strong> :</p><ul><li> <strong>White paper release</strong> : October 17, 2025</li><li> <strong>Private beta</strong> : Launched in mid-October 2025, invitation-only</li><li> <strong>Public Mainnet</strong> : Q1 2025 (according to the roadmap)</li></ul><p> <strong>Fluidity improvement effect</strong> :</p><ul><li> Capital efficiency can reach 26,667 times in the 1% price range and 102 times in the 20% range.</li><li> Atomic transaction execution reduces slippage, and deep aggregation improves trading experience</li><li> Supports better liquidity for RWA perpetual contracts (such as gold and crude oil futures)</li></ul><h3> On-chain data analysis</h3><p> <strong>Current protocol indicators</strong> :</p><ul><li> <strong>TVL</strong> : $11,366,742, mainly distributed on Base and Blast chains <reference tool_id="call_47622650" category="bar_tvl" project="SynFutures" description="SynFutures protocol TVL from 2025-09-21 to 2025-10-21" item_id="ab6586b9-ffd3-4edf-a8e5-bbed06370c91"/></li><li> <strong>24-hour fee</strong> : $32,037, or approximately $11M in annual revenue <reference tool_id="call_20683896" category="bar_fees" project="SynFutures" description="SynFutures protocol fees and revenue from 2025-09-21 to 2025-10-21" item_id="0de9bbb0-b0f5-4399-b9db-1c8b3205365a"/></li><li> <strong>Token Metrics</strong> : Market Cap $51.6M, 24h Volume $64M (Up 95%)</li></ul><p> <strong>TVL Trend</strong> : Fluctuating between $8.85M and $11.60M over the past 30 days, it is currently up 23% from its monthly low, indicating a steady growth in protocol liquidity.</p><h3> Social sentiment analysis</h3><p> Due to the recent release time of Upbit&#39;s launch (less than 1.5 hours), there hasn&#39;t been a significant amount of high-quality discussion on Twitter. Existing social media activity has primarily focused on official channels, including livestreams with influencers discussing the private beta and the competitive landscape of perpetual DEXs. Market sentiment is primarily reflected in price performance, with the 130% surge reflecting investors&#39; positive expectations for South Korean market access.</p><h2> in conclusion</h2><p> SynFutures&#39; listing on Upbit opens up a significant Asian market for the protocol, particularly with retail users in South Korea. Combined with the ongoing V3 liquidity upgrade, the protocol is poised to gain a technological advantage over the perpetual DEX competition. Oyster AMM&#39;s single-token model and 40,000x capital efficiency improvement, combined with deep on-chain order book aggregation, will significantly improve LP returns and the trader experience. As the private beta progresses and the mainnet launch approaches in Q1, it&#39;s recommended to monitor TVL growth and trading volume to verify the effectiveness of the upgrade.</p>
