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SynFutures, a perpetual futures DEX raises $22 million in Series B funding

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1 year ago

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SynFutures, a perpetual futures DEX raises $22 million in Series B funding

SynFutures, a perpetual futures decentralized exchange (DEX) raised $22 million in a Series B funding round. This funding round was led by Pantera Capital and included participation from Susquehanna International Group and HashKey Capital.

Along with the $22 million funding, SynFutures also releases V3 public testnet featuring OysterAMM.

With the launch of SynFuturesV3 users can now mint test tokens, begin trading, and explore the platform powered by OysterAMM.

“The name “Oyster AMM” reflects the completely permissionless listing of futures trading pairs on SynFutures DEX, as well as the ‘pearls’ that appear on a liquidity curve with limit orders, as is the case with our model,” Rachel Lin, SynFutures’ co-founder and CEO, said.

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Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.