SynFutures launches Perp Launchpad with $1m grant for new tokens

SynFutures, a decentralized derivatives trading platform, has launched its Perp Launchpad, designed to help crypto projects establish perpetual futures markets.

The platforms objective is to increase trading access for lesser-known tokens, offering more opportunities for users to engage with a diverse range of digital assets, according to a SynFutures press release.

Introducing SynFutures Perp Launchpad + a $1,000,000 Grant

This is the first ever crypto derivatives launchpad. Now, any project can launch perpetual futures trading pairs for any crypto asset.

Additionally, SynFutures is allocating $1 million Perp Launchpad Grant to support…

— SynFutures (@SynFuturesDefi) November 5, 2024

This launchpad stands out as it specifically focuses on perpetual futures markets, a type of derivatives market. Perpetual futures are contracts that remain open indefinitely and are often used for leveraged trading.

This launchpad is also unique because most launchpads in the crypto space focus on spot trading, or direct asset trading.

$1 million grant for token projects

As part of the initiative, SynFutures is introducing a $1 million grant program to support token projects by providing financial backing, liquidity, and marketing assistance, helping new projects increase visibility and attract users.

By expanding derivatives access, SynFutures enables these projects to list tokens and offer additional ways for communities to engage through trading and liquidity provision.

Initially, the Perp Launchpad will operate on Base, an Ethereum (ETH)-based layer 2 network, allowing projects to create perpetual trading pairs for their tokens. SynFutures has already partnered with established projects like Lido and Solv Protocol, significantly growing its ecosystem since July 2024.

SynFutures launchpad also caters to individual traders, giving access to a broader range of tokens, including popular memecoins. The platform offers incentives to encourage trader engagement in on-chain derivatives markets, such as trading competitions.