Shiba

Dogecoin

Internet Computer

Shiba Inu

SynFutures, a decentralized derivatives trading platform, has launched its Perp Launchpad, designed to help crypto projects establish perpetual futures markets. 
The platform’s objective is to increase trading access for lesser-known tokens, offering more opportunities for users to engage with a diverse range of digital assets, <a href="https://www.prnewswire.com/news-releases/synfutures-introduces-the-first-perp-launchpad-with-1m-grant-to-support-emerging-token-projects-302292810.html" target="_blank" rel="nofollow">according</a> to a SynFutures press release. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 https://twitter.com/SynFuturesDefi/status/1853800446223098238 
 </div>
</figure> 
This launchpad stands out as it specifically focuses on perpetual futures markets, a type of derivatives market. Perpetual futures are contracts that remain open indefinitely and are often used for leveraged trading. 
This launchpad is also unique because most launchpads in the crypto space focus on spot trading, or direct asset trading. 
 You might also like: <a rel="" href="https://crypto.news/internet-computer-sees-1230-surge-in-cross-chain-activity/"> Internet Computer sees 1,230% surge in cross-chain activity </a> 
<h2 class="wp-block-heading" id="1-million-grant-for-token-projects">$1 million grant for token projects</h2> 
As part of the initiative, SynFutures is introducing a $1 million grant program to support token projects by providing financial backing, liquidity, and marketing assistance, helping new projects increase visibility and attract users. 
By expanding derivatives access, SynFutures enables these projects to list tokens and offer additional ways for communities to engage through trading and liquidity provision. 
Initially, the Perp Launchpad will operate on <a href="https://crypto.news/tag/Base/" target="_blank">Base</a>, an Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>)-based layer 2 network, allowing projects to create perpetual trading pairs for their tokens. SynFutures has already partnered with established projects like Lido and Solv Protocol, significantly growing its ecosystem since July 2024. 
SynFutures’ launchpad also caters to individual traders, giving access to a broader range of tokens, including popular memecoins. The platform offers incentives to encourage trader engagement in on-chain derivatives markets, such as trading competitions. 
 You might also like: <a rel="" href="https://crypto.news/dogecoin-and-shiba-inu-compete-fiercely-yet-dogen-presale-steals-the-spotlight/"> Dogecoin and Shiba Inu compete fiercely, yet Dogen presale steals the spotlight </a>

SynFutures launches Perp Launchpad with $1m grant for new tokens

Table of Contents

crypto.news

Other articles published on Nov 5, 2024

OpenAI in talks with regulators to become a for-profit company: Report

Bitcoin Surges Past $71,000: What Could be the Possible Reasons?

Super Trump Coin Price Slumps 15% As Joe Rogan Endorses Trump In US Election After Elon Musk Inte...

Why Retail Investors Missed Out on Bitcoin’s October Price Surge: Key Factors Explained

Peanut The Squirrel Price Prediction: PNUT Plummets 8% As Investors Pivot To This PEPE Upgrade Fo...

Bitcoin price jumps 3.7% in an hour as US election fever begins

Join our free newsletter for daily crypto updates!