{"id":276849,"date":"2021-06-17T08:01:33","date_gmt":"2021-06-17T05:01:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/synfutures-raises-14m-for-derivatives-dex-supporting-anything-with-a-price-feed\/"},"modified":"2021-06-17T08:01:33","modified_gmt":"2021-06-17T05:01:33","slug":"synfutures-raises-14m-for-derivatives-dex-supporting-anything-with-a-price-feed","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/synfutures-raises-14m-for-derivatives-dex-supporting-anything-with-a-price-feed\/","title":{"rendered":"# SynFutures raises $14M for derivatives DEX supporting \u2018anything with a price feed\u2019"},"content":{"rendered":"

“# SynFutures raises $14M for derivatives DEX supporting \u2018anything with a price feed\u2019 <\/strong>”
\n<\/p>\n

Forthcoming decentralized derivatives exchange SynFutures has closed an oversubscribed $14 million Series<\/a> A funding round led by Polychain Capital.<\/p>\n

The automated market maker\u2019s funding round also saw participation from other heavyweight crypto investors including Pantera Capital, Framework, and Wintermute. Including the DEX\u2019s January 2021 seed round, SynFutures has nowraised $15.4 million in total.<\/p>\n

According to an announcement, the exchange plans to offer a one-stop-shop for derivatives, allowing anybody to launch arbitrary trading pairs with any expiry date based on the value of the underlying assets for which the liquidity is provided.<\/p>\n

SynFutures will not be alone in servicing the decentralized derivatives niche, with established projects like Synthetix and new players like Converge Finance targeting crypto-powered derivatives for real-world assets.<\/p>\n

SynFutures\u2019 bold objective is of “enabling trading on anything with a price feed,” including speculative assets such as cryptocurrencies, traditional equities, and metals, along with more niche instruments such as products tracking the hash rate of crypto networks. It’s a huge market as Polychain Capital’s founder and CEO, Olaf Carlson-Wee, stated:<\/p>\n

“In traditional financial markets, derivatives trading volume far eclipses that of spot trading and we’re now seeing a similar shift in crypto, especially in centralized exchanges.”<\/p><\/blockquote>\n

“As DEXs increasingly gain market share, we see a unique opportunity for SynFutures to become the leading futures marketplace of the decentralized economy,” Carlson-Wee added.<\/p>\n

Rachel Lin, SynFutures’ founder and CEO, described the platform’s mission as leveling “the playing field for the average investor by cultivating a free and open market for derivatives trading.” Before starting SynFutures, Lin helped found Bitmain spin-off and Asian “neobank” Matrixport, and previously oversaw the sale of structured derivative products at Deutsche Bank. <\/p>\n

The fundraising round’s closure coincides with the alpha launch of SynFutures’ platform, with the exchange targeting July for its public mainnet launch.<\/p>\n

Related: <\/em>DeFi and traditional finance could converge thanks to tokenization<\/em><\/strong><\/p>\n

SynFutures will join an expanding batch of new decentralized exchanges offering innovative derivative products.<\/p>\n

Pendle, an AMM facilitating trade in tokens representing claims to future yields, launched<\/a> on Ethereum\u2019s mainnet earlier today after raising $3.5 million from Mechanism Capital, Signum Capital, and CMS, among others.<\/p>\n

Pendle users can trade future yields on DAI deposited into Compound and USDC deposited into Aave.<\/p>\n

Last month, Oiler Network, a DEX that allows traders to speculate on Ethereum’s gas prices, completed<\/a> a public raise through a Liquidity Bootstrapp<\/a>ing Pool (LBP).<\/p>\n