SynFutures, a Singapore-based decentralized exchange (DEX) focused on perpetual futures, has just secured an impressive $22 million in its latest funding round.

The funding round, which pushes SynFutures’ total funding to $38 million, was spearheaded by Pantera Capital and also saw participation from SIG DT Investments, a subsidiary of the Susquehanna International Group (SIG DTI), as well as HashKey Capital.

Perpetual futures are a type of financial derivative commonly used in cryptocurrency and commodities trading. Unlike traditional futures contracts that have a specified maturity date, perpetual futures don’t have a fixed expiration date, continuing indefinitely, and can be traded with leverage, letting traders control a larger position than their initial capital would allow.

The fundraising announcement accompanies the unveiling of SynFutures’s V3 of its platform, with the mainnet release scheduled for the fourth quarter of 2023.

The upgraded V3 platform incorporates an Oyster automated market maker (Oyster AMM), which is fully deployed on-chain.

According to SynFutures, an Oyster AMM combines attributes of orderbook and AMM models in a sin

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Author: Andrew Asmakov

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