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SynFutures, a decentralized derivatives alternate, as we speak has formally prolonged assist for the Arbitrum community following an preliminary deployment in September of final 12 months. The growth permits customers to entry and commerce all kinds of Arbitrum belongings in a totally decentralized and permissionless method.
To develop assist for Arbitrum belongings, SynFutures built-in with SushiSwap’s worth feed oracle to deliver real-time knowledge to its platform. SushiSwap, which deployed on Arbitrum final 12 months, is now one of many community’s most lively decentralized exchanges.
Customers can at the moment checklist and commerce futures contracts on any Arbitrum asset obtainable from SushiSwap. Counting on third-party oracle knowledge to supply correct pricing data for a given asset, the brand new growth provides customers new alternatives to create arbitrage and hedge danger on Arbitrum with derivatives.
“We need to empower all communities to checklist and commerce any asset they want on any community. By integrating with SushiSwap’s worth feed, we’re making it simpler for our customers to checklist Arbitrum belongings and create extra buying and selling alternatives.”
– Rachel Lin, Co-Founder & CEO at SynFutures
With the SushiSwap connection, SynFutures has already listed seven new Arbitrum pairs for buying and selling:
- ETH/USDC
- CRV/ETH
- LINK/ETH,
- MAGIC/ETH
- DPX/ETH
- STRP/USDC
- SPELL/ETH
Beforehand, BTC/USDC was the one Arbitrum buying and selling pair provided on SynFutures.
The combination marks SynFutures’ official growth inside the Arbitrum ecosystem and comes because the alternate sees continued development on different blockchains like Ethereum, Polygon, and BNB.
In lower than 5 months since its public beta launch, SynFutures has already surpassed greater than $4 billion in cumulative buying and selling quantity and 56,000 customers.
Lin added, “SynFutures diving deeper into the Arbitrum ecosystem expands on our imaginative and prescient to make derivatives buying and selling extra accessible. With expanded assist for Arbitrum belongings, we’re excited to copy a few of our present success on what we consider to be one of the promising layer-2 ecosystems.”
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