SynFutures: the next dYdX on the derivative track?

2020 will be remembered for the growth of the DeFi summer and the use of DeFi primitives such as the DEX facility and the loan agreement.

Regarding the DeFi change in 2021, I think one of the key issues will be the result of the DEX derivative. In other words, just as mining companies launched DeFi this summer and DeFi TVL protocol has grown 40-fold in 12 months, dYdX has achieved a huge market share in tokens.

During peak periods, dYdX accounted for around 8% of all derivatives trading volumes, but typically only 2% of cryptocurrency derivatives trading activity. American dollars in modern commerce.

Therefore, the DEX derivatives market is still very good. Ever since dYdX caused an outcry in motor racing, everyone wants to know what the next dYdX project will be and how difficult it will be for executives. After research, the authors found a project with great potential: SynFutures. (It should be noted that the project has not yet provided tokens.)

SynFutures is a decentralized synthetic derivatives platform that allows you to add and trade multiple digital derivative currency pairs of assets in one free currency, support ERC-20, cross assets, and multiple value. active. This means that users can spend long or short term to protect assets like Bitcoin, gold, Chinese energy, and even Tesla, and only need a digital currency (for example, like the 'USDC) to perform the currency conversion.

SynFutures won a $ 1.4 million seed environment from Dragonfly Capital and Standard Crypto in January and June this year and a $ 14 million Series A financial environment led by renowned Polychain Capital in the market. capital.

Since leverage and liquidation were involved in the terms of the asset, financial risk management and market value response were the basis for the creation of derivative contracts. The authors found that SynFutures members had worked for many years at the forefront of international investment banks, bringing previous experience to the development of DeFi, including with:

Cost and Location Restrictions: In order to protect users from major cost constraints such as lightning bills or other cost controls, SynFutures introduces special restrictions on price and location. Restrictions usually do not affect the average user and only occur when a large value move occurs inside a block, such as limiting the maximum value of a block, limiting the maximum value of a place to measure a second, etc.

Protection of the “pin” pricing mechanism: Derivatives traders are often concerned about short-term “pins” in price that could lead to liquidation positions. To solve this problem, SynFutures does not use the real-time market value or the Oracle price to determine whether a project should be closed or decided, but the exit price can be achieved at different operating levels, including short-term. . Exponential moving average (EMA) function and time response moving average (TWAP) function for map parameters etc.

The “Payment Period” prohibits any new employment. The term "solution" of the future is now widely used even on centralized exchanges. The point of the job is to place an order at the final stage, drive the price up and down in your favor. SynFutures does not allow users to add new functions during the last session on the market in order to reduce the possibility of administrative costs.

Currently, the project has been announcing the trial version v1 for over 2 months, and the SynFutures smart contract has been extended to the mainnet Ethereum, Polygon, Arbitrum and BSC. Among them, the biggest work to date has been recorded in polygons. In Polygon alone, SynFutures benefits from nearly 20,000 independent users and 50,000 independent locations on all interconnections with SynFutures smart contracts. For use, currently 50,000 addresses are associated with the dYdX Starkware version.

The launch of SynFutures v1 impresses many users. The platform's product pool raises more than $ 1 billion, has 50,000 independent users, and supports more than 100 assets. You can have some good business sense, so it's a good idea to do some business testing first to break them into them. (Currently no campaign declaration tokens.)

SynFutures can count on value and should be the next leader in connected devices like airdrops for dYdX or future users!