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SynFutures, a decentralized derivatives alternate, in the present day has formally prolonged assist for the Arbitrum community following an preliminary deployment in September of final 12 months. The enlargement permits customers to entry and commerce all kinds of Arbitrum belongings in a completely decentralized and permissionless method.
To broaden assist for Arbitrum belongings, SynFutures built-in with SushiSwap’s value feed oracle to convey real-time knowledge to its platform. SushiSwap, which deployed on Arbitrum final 12 months, is now one of many community’s most energetic decentralized exchanges.
Customers can at the moment record and commerce futures contracts on any Arbitrum asset out there from SushiSwap. Counting on third-party oracle knowledge to offer correct pricing data for a given asset, the brand new enlargement offers customers new alternatives to create arbitrage and hedge threat on Arbitrum with derivatives.
“We wish to empower all communities to record and commerce any asset they need on any community. By integrating with SushiSwap’s value feed, we’re making it simpler for our customers to record 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 mixing marks SynFutures’ official enlargement inside the Arbitrum ecosystem and comes because the alternate sees continued progress 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 imagine to be one of the vital promising layer-2 ecosystems.”
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