SynFutures Introduces Permissionless Futures and Perpetual Swaps in the zkSync Era


Share post:

SynFutures, one of the leading DeFi derivatives exchanges on Polygon, today announced its expansion on zkSync Era, the Layer-2 protocol that utilizes zero-knowledge (ZK) technology to scale Ethereum. SynFutures’ deployment on zkSync Era brings permissionless futures and perpetual trading to the layer 2 network, enabling users to list and trade any crypto asset with a reliable price feed.

This deployment follows its much-anticipated launch of V2 Beta on Polygon last month. During its closed alpha and public beta phases, SynFutures V2 has achieved an impressive cumulative trading volume of over $318 million, attracting over 9,000 users. The expansion to zkSync marks the first step in SynFutures’ multichain strategy to deliver a seamless user experience to DeFi participants.

“ZK roll-ups offer a promising solution to the blockchain trilemma that many decentralized applications face,” said Rachel Lin, co-founder and CEO at SynFutures. “By collaborating with projects like zkSync, we aim to bridge the user experience gap between CeFi and DeFi, empowering users to trade securely and efficiently while enjoying all of the benefits of trading on-chain.”

While maintaining a chain-agnostic approach with V1 deployed on various chains such as Polygon, Arbitrum, and BNB, SynFutures strategically chose zkSync Era as the next chain for V2 deployment due to its commitment to decentralization, scaling Ethereum’s security, and adherence to zero-knowledge cryptography. The platform’s growing ecosystem and community make it an ideal choice to offer users an enhanced trading experience with lower fees and faster transactions, bringing DeFi closer to mainstream adoption.

Also Read: The Rise of Fintech Personalization: How AI is Fueling Competitive Advantage

“DeFi has been the cornerstone of zkSync Era’s initial explosive growth, and I’m excited to see yet another DeFi project integrating on zkSync Era,” said Marco Cora, SVP of business and operations at Matter Labs. “zkSync Era is rapidly attracting developers and DeFi users because of the unique and cutting-edge use cases being deployed on the protocol, and Synfutures’ decentralized derivatives infrastructure and user experience are great examples of this.”

zkSync Era has experienced exponential growth, with the protocol’s Total Value Locked (TVL) surpassing $430 million. As one of the first major derivatives DEXs to go live on zkSync Era, SynFutures aims to leverage the platform’s thriving ecosystem to introduce new audiences to permissionless derivatives.

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

Hyve Launches Multiplayer Money Platform – Earn and Save Faster with Others

Hyve announces its mobile app is now available on iOS and Android. Hyve aims to pave a simplified...

JustPaid Offers State-Of-The-Art Revenue Management Functionality

JustPaid announces the launch of its fully automated revenue management functionality within the platform. The new feature in the...

Fraud Detection Best Practices in Fintech

Fraud poses a significant threat to financial technology companies. To stay safe, firms need to be vigilant. Firms...

SMArtX Advisory Solutions Enhances New SMArtY Platform with Two More Asset Management Firms

SMArtX Advisory Solutions, a leading innovator in managed accounts technology, today announced Fidelity Investments and Invesco will make...