SynFutures
Decentralized synthetic assets derivatives protocol.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| investor investor | €0.0 | round | |
| investor investor investor investor investor investor investor investor | €0.0 | round | |
* | $22.0m | Series B | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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SynFutures is a decentralized derivatives exchange platform established in 2021 by co-founder and CEO, Rachel Lin. Lin's background combines traditional finance (TradFi) and the crypto world; she began her career in the global markets division at Deutsche Bank, specializing in structured derivatives, before co-founding Matrixport, a large crypto neobank in Asia. This experience in both realms shaped the vision for SynFutures: to democratize and make derivatives trading more accessible.
The company operates a decentralized perpetual futures (perps) exchange that allows for the permissionless listing of assets, meaning users can create futures markets for a wide range of assets, including cryptocurrencies, altcoins, and NFTs, in seconds. SynFutures positions itself as the "Amazon of derivatives," providing an open and trustless market for both retail and professional traders. The platform has been deployed on multiple blockchains, including Polygon, and as of early 2024, launched its V3 on the Blast mainnet. Total funding has reached $38 million through three rounds, with its Series B in October 2023 raising $22 million, led by Pantera Capital with participation from other notable investors like Polychain Capital, SIG, and Dragonfly Capital.
SynFutures' core technology is its proprietary "Oyster AMM" model, introduced in its V3 iteration. This model is a significant evolution from the Synthetic AMM (sAMM) used in V1 and V2. The Oyster AMM innovatively combines a concentrated liquidity automated market maker (CLAMM) with a fully on-chain order book. This hybrid system is designed to enhance capital efficiency, allowing liquidity providers (LPs) to concentrate their funds in specific price ranges, and offers a unified liquidity pool for both passive LPs and active traders. The platform supports single-token liquidity provisioning and aims to offer a user experience with reduced slippage that can compete with centralized exchanges.
Keywords: decentralized derivatives, perpetual futures, DEX, crypto trading, permissionless listings, Oyster AMM, Rachel Lin, on-chain order book, concentrated liquidity, crypto derivatives, DeFi, Pantera Capital, perpetual contracts, Blast mainnet, Polygon, synthetic assets, liquidity provision, financial infrastructure, derivatives trading, NFT futures