April 1, 2022

SynFutures Nears $1 Billion in Monthly Trade Volume on Polygon

SynFutures has become the biggest derivatives-based decentralized exchange (DEX) on the Polygon network with an average monthly trade volume approaching $1 billion.

SynFutures is a next-generation derivatives exchange focused on creating an open and trustless derivatives market by enabling trading on any device with proper price feeds. By cultivating a free market and maximizing the variety of tradable assets, SynFutures is lowering the barrier for entry in the derivatives market, creating a more equitable exchange market for digital assets.

Since the multichain DEX deployed on Polygon in 2021, the network has become its most active chain. More than 80 trading pairs have been listed on SynFutures so far, and over 25,000 unique users have traded on SynFutures via Polygon alone.

“While we first deployed on Ethereum, we realized it was critical to expand to networks that had the capacity to support the volume of derivatives trading we now see on a weekly and monthly basis while ensuring low fees for our traders,” said Rachel Lin, co-founder and CEO at SynFutures. “With a robust DeFi dApp ecosystem and long-term solutions for scalability in the blockchain space, Polygon is an ideal network to expand our suite of derivatives products and services now and in the future.”

Over the past year, Polygon has emerged as the top destination for DeFi projects. The network has processed close to 1.5 billion transactions and is now home to over 7,000 decentralized apps (dApps) and more than 130 million addresses.

Check out an AMA with SynFutures CMO Mark Lee and tune into our blog for the latest on Polygon.