SynFutures Announces USD22M Series B and Launches V3 Perpetual Futures DEX with Proprietary Oyster AMM
Summary
This latest round brings the total funding SynFutures has raised to date to US$38 million.The fundraising announcement comes alongside the launch of the decentralized exchanges (DEXs) new V3 platform for perpetual futures ("perps"). Our hope is that V3 proves a tipping point, and our Oyster AMM empowers both professional and retail traders to access DeFi derivatives trading at a mass scale," said Rachel Lin, Co-founder and CEO of SynFutures. "V3 Bridges the DeFi Derivatives Gap as Crypto Winter Set to Defrost in 2024SynFutures is launching its V3, with the mainnet launch set for Q4 2023, in the anticipation that various market forces - including the upcoming Bitcoin halving, accelerating traditional finance (TradFi) participation in Web3, and the coming end of the Feds tightening cycle - will thaw the current crypto winter in 2024.Demand for DeFi services and adoption has seen significant growth since FTXs implosion last year, as investors are placing greater value on transparency and self-custody. And this latest upgrade sets a new bar for efficiency in DeFi trading, thanks to the integrated model combining AMM with an on-chain order book, in an innovative approach thats tailored to derivatives," said Paul Veradittakit, Managing Partner at Pantera Capital. We are impressed with the teams long-term vision and robust product roadmap, which we see as foundational for traditional institutions to deepen their engagement in the growing digital asset ecosystem," said Vir Anand, Investor for SIG DT Investments, a member of the Susquehanna International Group.