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.
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“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.
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