SynFutures, a decentralized derivatives exchange, today officially extended support for the Arbitrum network after an initial rollout in September last year. The expansion allows users to access and trade a wide variety of Arbitrum assets in a fully decentralized and permissionless manner.
To expand support for Arbitrum assets, SynFutures has integrated with SushiSwap’s price feed oracle to bring real-time data to its platform. SushiSwap, which was deployed on Arbitrum last year, is now one of the busiest decentralized exchanges on the network.
Users can currently list and trade futures on any Arbitrum asset available from SushiSwap. Leveraging third-party oracle data to provide accurate price information for a given asset, the new extension provides users with new opportunities to create arbitrages and hedge risk on Arbitrum with derivatives.
“We want to empower all communities to list and trade any asset they want on any network. By integrating SushiSwap’s price feed, we make it easier for our users to list assets of Arbitrum and create more trading opportunities.
– Rachel Lin, co-founder and CEO of SynFutures
With the SushiSwap connection, SynFutures has already listed seven new Arbitrum pairs for trading:
- ETH/USDC
- CRV/ETH
- LINK/ETH,
- MAGIC/ETH
- DPX/ETH
- STRP/USDC
- SORT/ETH
Previously, BTC/USDC was the only Arbitrum trading pair offered on SynFutures.
The integration marks SynFutures’ official expansion into the Arbitrum ecosystem and comes as the exchange sees continued growth on other blockchains like Ethereum, Polygon, and BNB.
In less than five months since launching its public beta, SynFutures has already exceeded over $4 billion in cumulative trading volume and 56,000 users.
Lin added, “SynFutures’ dive deeper into the Arbitrum ecosystem expands our vision of making derivatives trading more accessible. With expanded support for Arbitrum assets, we are excited to replicate some of our existing success on what we believe to be one of the most promising Layer 2 ecosystems.
