SynFutures has launched the Perp Launchpad, a perpetual contract issuance platform, with a $1 million prize pool to incentivize emerging projects.

BlockBeats News, November 6th, according to The Block, SynFutures has launched the industry's first derivatives-focused issuance platform, Perp Launchpad, on the Base network. Projects only need to provide initial liquidity using their project tokens to list corresponding perpetual contract markets.

At the same time, SynFutures has established a $1 million Perp Launchpad incentive program to provide emerging projects with trading competitions, market promotion, community events, and other bonus support to help projects increase their exposure and activity in the on-chain market. Previously, SynFutures has conducted pilot collaborations for the Perp Launchpad with projects such as Lido, DEGEN, Solv Protocol, and PumpBTC.

According to DeFiLlama data, SynFutures is currently one of the largest on-chain derivative trading markets. Since its launch in March, the total trading volume has exceeded $170 billion. Moreover, within two weeks of launching on Base, it ranked first in trading volume, accounting for over 50% of the total derivatives trading volume on Base. SynFutures previously announced a $38 million funding round from top industry institutions such as Pantera, Polychain, Dragonfly, and Standard Crypto, and the protocol has been audited by Quantstamp.