Author: Biteye core contributor Hankester
Editor: Crush, core contributor of Biteye
01. What is SynFutures?
SynFutures is a decentralized derivatives trading platform founded in 2021. It is currently one of the most active decentralized perpetual contract exchanges in Web3 and one of the few unissued projects in the top ten of Deflama derivatives rankings. The protocol has been audited by Quantstamp.
The founding team of SynFutures has backgrounds in international first-tier investment banks, Internet companies and crypto OGs, and has received support from well-known institutions and investors including Pantera, Polychain, Standard Crypto, Dragonfly, Framework, SIG, Hashkey, IOSG, Bybit, Wintermute, CMS, Woo, etc., and has raised more than US$38 million to date.
02. SynFutures’ Triple Airdrop Rewards
SynFuturesV3 is the winning project in the Blast Big Bang event. It is now online on the Blast mainnet and is the derivative project that has received the most Blast Gold. Blast has a high degree of official recognition and focuses on supporting it. Currently, there are three rewards for interacting with SynFutures:
SynFutures airdrop rewards: SynFutures has already announced the airdrop. If we refer to the market value of AEVO (3 billion), and calculate it at a 5% airdrop ratio, the total value of the airdrop can reach 150 million.
Blast Points Rewards: ETH and officially recognized stablecoins can get Blast Points rewards and share 50% of Blast's future airdrops. In addition, SynFutures can double the Blast Points rewards for new user interactions in projects supported by the Blast Multiplier event.
Blast Gold Rewards: Blast rewards high-quality projects to support their development, and they can share 50% of Blast's future airdrops. In the first round of rewards, SynFutures is the project that received the most Gold in the derivatives track, second only to the largest Spot DEX Thruster on Blast. At present, all rewards have been distributed to users who participated in the first round of activities.
In addition, ETH on Blast can get 4% annualized, and USDB can get 15% annualized. Adding up all the rewards, it is estimated that the final annualized rate will be no less than 200%.
In addition to the above rewards, traders can currently participate in the trading jackpot and share a grand prize of 500,000 USDB.
03. Obtaining rewards
Add liquidity (become an LP)
https://oyster.synfutures.com/#/earn
Open the address above and you can see that there are many trading pairs. There is a yellow background text prompt in front of each trading pair. Stablecoins have the least points and the lowest risk. Other currencies, such as BTC/USDB, have 200 times the points. Because these currencies are more volatile, providing liquidity for them may result in Impermanent Loss, but will earn more points.
First, choose different pools to provide liquidity according to your own risk preferences. Click "Add Liquidity" to enter the liquidity addition interface
After entering, we enter the WETH amount (if you only have ETH, there is a Wrap ETH in the upper right corner, which can directly help you deposit ETH into the account, and then enter the amount after depositing it)
Then set the Price Range. The narrower the range, the higher the APY, but at the same time, the greater the possible Impermanent Loss. If you don’t know how to operate, just use the default. If you don’t want to have Impermanent Loss, you can put your funds in the stablecoin trading pair pool.
After making your selection, click “Confirm” to complete the liquidity addition. The lower right corner of the page also shows that users can receive triple rewards at the same time.
Place a limit order (market making)
https://oyster.synfutures.com/#/trade/blast/BTC-USDB-PYTH-Perpetual
Open the transaction address above, enter the transaction amount and click BUY. After the order is successfully placed, you can get triple rewards. Note that if the order is eaten, you will no longer receive rewards. At this time, you can cancel the old one and place a new one.
Place a market order (trading)
https://oyster.synfutures.com/#/trade/blast/BTC-USDB-PYTH-Perpetual
Open the trading address above, trade by placing market orders, accumulate trading volume, and you can get triple rewards.
PS: If you encounter an IP restriction reminder when participating in an event, you need to change the IP to an unrestricted area, such as a Taiwan IP. If you do not have assets on the Blast chain in your wallet, you can transfer funds in through a third-party cross-chain bridge, such as using MiniBridge.
https://minibridge.chaineye.tools/?mode=transfer&src=bsc&dst=blast
04. Conclusion
SynFutures has raised more than 38 million US dollars so far, and has been supported by many well-known investment institutions. Its current data performance is amazing and deserves special attention. The activity is still in its early stages. From past experience, the earlier you participate, the more substantial the returns will be. If you participate, you can get rewards by directly trading, making markets, and providing liquidity.
I wish everyone who reads this can win big prizes and hit the large MC memecoin this year. ???
Platform data:
https://info.synfutures.com/
Defillama:
https://defillama.com/protocol/synfutures-v3#information
