bitcoin
Bitcoin (BTC) $ 24,008.43
ethereum
Ethereum (ETH) $ 1,901.51
tether
Tether (USDT) $ 0.998873
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 324.20
xrp
XRP (XRP) $ 0.377208
cardano
Cardano (ADA) $ 0.533695
binance-usd
Binance USD (BUSD) $ 1.00
solana
Solana (SOL) $ 43.44
polkadot
Polkadot (DOT) $ 9.23

Crypto derivatives protocol SynFutures to deploy on layer-2 Ethereum solution Arbitrum

SynFutures, a crypto derivatives trading protocol, today announced that it will deploy its protocol on Arbitrum, an layer-2 scaling protocol. With the announcement, SynFutures will become the first DeFi derivatives project to be deployed on Arbitrum.


SynFutures + Arbitrum

As a next-generation layer-2 protocol for dApps, Arbitrum solves scaling without compromises. It is a side chain protocol that offers similar functionality to the Ethereum mainnet allowing developers to build and run dApps just like they would on the mainnet.

With Arbitrum, developers can easily migrate unmodified EVM contracts and run them on their layer-2 protocol in a seamless manner. Developers have access to the Arbitrum compiler through which they can compile their solidity contracts and deploy them easily on their protocol.

The platform is interoperable with the mainnet ensuring that all transactions on layer-2 are ultimately recorded and sealed on the mainnet. Designed as a solution to addresses Ethereum’s scalability issues, Arbitrum boosts transaction speeds whilst improving privacy.

Arbitrum uses the transaction rollup technique to compile numerous transactions and enter them as a batch on the mainnet. This helps lighten a substantial portion of Ethereum’s computational and storage burden and subsequently enables cheap and fast transactions.

“This is an exciting new development that will improve the efficiency of our application once successfully launched on the platform. Our users will benefit from the scalability, speed, privacy, and compatibility of the Arbitrum protocol. It also expands our capabilities enabling us to onboard more users and provide a wider array of products and services.”
– The SynFutures Team

Back in June 2021, SynFutures announced $14 million Series A funding led by Polychain Capital with participation from Framework, Pantera Capital, Bybit, Wintermute, CMS, Kronos, and IOSG Ventures. Earlier in 2021, it announced a seed round backed by Dragonfly Capital and Standard Crypto.

Share:

Leave a Reply

Your email address will not be published.

Recent Highlights

USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 24,008.43
ethereumEthereum (ETH)
$ 1,901.51
tetherTether (USDT)
$ 0.998873
xrpXRP (XRP)
$ 0.377208
litecoinLitecoin (LTC)
$ 61.95
dogecoinDogecoin (DOGE)
$ 0.071351
bitcoinBitcoin (BTC)
23.304,74
ethereumEthereum (ETH)
1.845,78
tetherTether (USDT)
0,969596
xrpXRP (XRP)
0,366152
litecoinLitecoin (LTC)
60,13
dogecoinDogecoin (DOGE)
0,06926
bitcoinBitcoin (BTC)
19,654.04
ethereumEthereum (ETH)
1,556.63
tetherTether (USDT)
0.817708
xrpXRP (XRP)
0.308794
litecoinLitecoin (LTC)
50.71
dogecoinDogecoin (DOGE)
0.05841

Recent Highlights