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SynFutures, a decentralized crypto derivatives exchange, recently closed a $22M Series B funding round, led by Pantera Capital. Other notable participants included Susquehanna International Group (SIG) and HashKey Capital.

  • Other Announcements: In addition to this financial achievement, SynFutures unveiled their unique automated market maker (AMM), Oyster. AMMs are tech-forward tools that streamline the process of purchasing and selling crypto assets, a welcome shift from the traditional order book method.
  • Addressing Capital Efficiency: While AMM forms the foundation of DeFi, SynFutures is focusing on overcoming one of DeFi’s primary hurdles – capital efficiency. The company aims to integrate on-chain orderbook capabilities usually associated with traditional finance, to tackle this problem head-on.
  • What’s an Orderbook? An orderbook, much like in a regular stock market, pairs buyers and sellers based on price and quantity. This feature isn’t possible on a DEX (Decentralized Exchange) but is highly beneficial for institutional traders. It provides them with greater control over their positions under various market conditions and helps minimize slippage, i.e., the disparity between the intended and executed trade price.
  • Future Aims: SynFutures is targeting high-end customers and smaller institutions, boasting a clientele of approximately 100,000 traders and a colossal $21B trading volume since October 2021.
  • Company Policy: The company operates with transparency and decentralization at its core, ensuring all transactions are on-chain and funds are kept in self-custodial wallets.

Rachel Lin foresees another DeFi surge in the next couple of years as blockchain technology continues to evolve. The current crypto spot trading volume makes up around 13-14% of the total market spot trading volume, a significant rise from less than 1% three years ago.

SynFutures harbors ambitions of competing with centralized exchanges and finance giants like JPMorgan in the future.

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