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

SynFutures, a decentralized derivatives trading platform, has launched its Perp Launchpad, a platform designed to aid crypto projects in establishing perpetual futures markets. As per a press release by SynFutures, the platform aims to enhance trading accessibility for lesser-known tokens, broadening opportunities for users to interact with various digital assets.

This launchpad ventures into the niche of perpetual futures markets, a derivative market type. Perpetual futures are contracts that remain indefinitely open and are commonly utilized in leveraged trading. The platform differentiates itself by catering specifically to perpetual futures markets, unlike the majority of launchpads within the crypto realm which concentrate on spot trading.

As part of this initiative, SynFutures has instituted a $1 million grant program to bolster token projects through financial backing, liquidity, and marketing support. This grant enables new projects to gain more visibility and attract users. By extending derivatives access, SynFutures empowers projects to list tokens and unlock additional channels for community engagement through trading and liquidity provision.

Initially, the Perp Launchpad will operate on Base, an Ethereum (ETH)-based layer 2 network, enabling projects to generate perpetual trading pairs for their tokens. Since July 2024, SynFutures has already established partnerships with notable projects such as Lido and Solv Protocol, significantly expanding its ecosystem.

Furthermore, SynFutures' launchpad caters to individual traders by providing access to a wider array of tokens, including popular memecoins. The platform offers incentives for traders to actively participate in on-chain derivatives markets, such as trading competitions.