SynFutures launches an innovative Perptual Futures platform in the Base ecosystem

In July of this year, an important participant joined the Base ecosystem: SynFutures. So far, SynFutures has achieved a trading volume of $26 billion on Base, capturing over half of the market share in the perpetual futures track of this ecosystem.

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 the current growth bottlenecks faced by Perptual Futures exchanges. Major participants such as dYdX, Hyperliquid, GMX, and SynFutures have already captured most of the profitable Perptual Futures varieties, while the remaining varieties either have too low trading volume or have become arbitrage tools due to pricing inefficiencies.

In this context, SynFutures has chosen an innovative path to seek new growth opportunities.

Perp Launchpad: Redefining the Perptual Futures Issuance Model

The Perptual Futures Launchpad platform provides liquidity and price discovery mechanisms for Restaking and Meme tokens through low gas fees, efficient capital utilization, and a $1 million subsidy. The platform aims to attract on-chain trading enthusiasts and become an emerging force in the Perptual Futures space.

The main advantages of this model include:

• Reduced the entry barriers for the Perptual Futures market
• Quickly establish market depth through LP incentive mechanism
• Leverage Base's low Gas advantage for rapid deployment

Taking the Lido wstETH/ETH Perptual Futures as an example, it has achieved significant results just two months after launch:

• Cumulative trading volume reached $260 million
• The highest TVL reached $918,000
• Over 132,000 on-chain transactions
• The number of users exceeds 1955

New Opportunities for Investors

For on-chain trading enthusiasts, SynFutures offers multiple revenue opportunities:

• LP market-making returns (annualized rate can reach over 50%)
• Cooperative Community Revenue Sharing
• Possible future token airdrops and point rewards

At the same time, the platform also provides users with tools to manage Restaking assets and the risks of Meme tokens.

However, investors also need to pay attention to the following risks:

• The periodic fluctuations of liquidity in the Perptual Futures market
• Newly launched trading pairs may experience significant price fluctuations.
• LP market making faces the risk of impermanent loss

New Opportunities for Restaking Assets

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

• More Restaking assets entering the Perptual Futures market
• The liquidity of LRT tokens has further improved.
• May give rise to new Restaking derivative play.

Data shows that BTC Restaking assets are becoming the new favorite in the Perptual Futures market. For example:

• pumpBTC/ETH 24-hour trading volume 429.3K, TVL reached 12M
• SolvBTC/ETH 24-hour trading volume 341.8K, TVL reaches 5M

The TVL of these trading pairs has approached that of the mainstream ETH/USDC trading pair, possibly due to:

• The BTC Restaking track is gaining popularity, and hedging tools are needed.
• The price correlation of BTC and ETH provides a pricing benchmark for these trading pairs.
• Competition among Restaking protocols has intensified, increasing speculative demand.

Meme Token Perpetual Futures Performance

Unexpectedly, the Perptual Futures of the Meme tokens performed relatively flat:

• BONK/USDC Perptual Futures: 24-hour trading volume 7.7K, market depth 405.3K
• PEPE Perptual Futures: Average daily trading volume is between 5K-10K, with market depth between 300K-500K.
• Other Meme tokens have performed more mediocre.

This phenomenon may originate from:

• High leverage and high volatility combinations increase risks
• The speculative nature of the Meme token spot market leads to unstable Perptual Futures rates.
• The higher risk of impermanent loss makes LP providers more cautious.

Summary

The innovation of SynFutures essentially reshapes the issuance model of Perptual Futures, opening the doors to the derivatives market for various tokens. It not only lowers the issuance threshold for Perptual Futures but, more importantly, provides a significant value discovery channel for "blue-chip assets" like Restaking and "retail favorites" like Meme tokens.

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 thinking might create unexpected value.