<p>SynFutures, the Singapore-headquartered decentralized derivatives exchange specializing in crypto perpetual futures trading, has taken its V3 from public testnet through to mainnet launch on the Blast layer two network.</p><h2 id="header-0">Bringing permissionless perps to Blast</h2><p>Taking to <a href="https://medium.com/synfutures/synfutures-v3-launches-on-blast-mainnet-offering-3x-points-through-oyster-odyssey-ahead-of-token-e528cbeb6212" rel="noopener noreferrer nofollow">Medium</a> on March 1, the company outlined that “we’ve officially brought permissionless perps to Blast.” With the launch, the project is demonstrating iterative progression. Back in October of last year, the company <a href="https://coinnesslive.page.link/BJumycYH5dF8ytjt9" rel="noopener noreferrer nofollow">outlined</a> that it had launched V3 on public testnet, while also announcing details of a $22 million Series B funding round at that time.</p><p>SynFutures&#39; decision to roll out V3 on the Blast mainnet aligns with the layer two network&#39;s rapid ascent in the crypto space. Blast itself launched on Feb. 29 and in the process the network unlocked around $2.3 billion in staked crypto which had remained locked up until that point.</p><p>The optimistic rollup-based network allows transactions to be executed off-chain, all the while leveraging the security provided by the Ethereum blockchain network. Blast has managed to garner significant value on-chain due to the 5% annual yield it offers users on ether and stablecoins that network participants accrue from staked ETH.</p><h2 id="header-1">Points rewards program</h2><p>Alongside the V3 launch, SynFutures has introduced a points rewards program, christened Oyster Odyssey. This initiative aims to incentivize user engagement on the platform, with V3 users set to qualify for the upcoming Blast airdrop as well.</p><p>&#34;Interacting with SynFutures can qualify users for Oyster Odyssey points as well as Blast points,&#34; Rachel Lin, co-founder and CEO of SynFutures, <a href="https://www.theblock.co/post/280013/synfutures-v3-blast-mainnet-points-program-token" rel="noopener noreferrer nofollow">disclosed</a> to The Block. Lin added:&#34;We&#39;re also committed to giving 100% of our Blast developer airdrop back to users, so they&#39;ll enjoy plenty of benefits.&#34;</p><h2 id="header-2">Gearing up for native token launch</h2><p>It also appears that SynFutures is gearing up for the launch of its native token. In its blog post, the firm suggested that it was pleased to reveal that it is “exploring the path to a token.”</p><p>The company promises that launch details and an associated timeline will be disclosed in the not-too-distant future.</p><p>Following V3 public testnet launch last year, the project explored various blockchain options, including Polygon and zkSync Era, before ultimately settling on Blast. While the team remains committed to a multi-chain expansion for V3, with future deployments under consideration, Lin has suggested that the immediate focus lies in driving adoption and volume on Blast.</p><p>While V2 of the platform still operates on the Polygon proof-of-stake chain, support for it is gradually phasing out as SynFutures prioritizes the V3 rollout. Meanwhile, V1 has already been phased out, with both iterations collectively processing over $23 billion in cumulative trading volume to date.</p><p>SynFutures&#39; journey thus far has been supported by substantial funding, with approximately $38 million raised to date. Notable backers include Pantera Capital, HashKey Capital and SIG DT Investments, a unit of the Susquehanna International Group, among others.</p>

SynFutures launches V3 on Blast’s optimistic rollup network

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