Synthetix adds 7 new perpetual futures markets

  • Synthetix has added 7 new perpetual futures markets for XRP, DOT, FLOKI, INJ, PEPE, SUI and BLUR.
  • The protocol will also add support for TRX, with the new perps markets available on perps trading front-ends Kwenta, Polynomial, Decentrex, and dHEDGE.
  • Synthetix now provides SYN liquidity for 40 perpetual futures markets.

Synthetix, a decentralised derivatives trading platform built on Optimism and Ethereum, has added 7 new perpetual futures markets, including for some tokens currently attracting huge interest.

According to the derivatives protocol’s blog announcement on Wednesday, 24 May, the new markets feature XRP(XRP), Polkadot (DOT), Floki Inu (FLOKI), Injective (INJ), Pepe (PEPE), Sui (SUI) and Blur (BLUR). 

The listing of the seven new perpetual futures markets bring the total perps markets on Sythentix to 40, the platform noted.


New perps markets are live on Optimism

Support for the new markets follow the approval of SIP 2014 and SIP 2015. Per the blog post, an eighth perps market for Tron (TRX) was also approved. However, Synthetix is waiting for oracle support for the token before launching its trading.

The new perps markets are now live on the Optimism protocol for leverage trading.

Holders of the SNX tokens can access the perpetual markets on various SNX integrated derivatives trading protocols. User-facing platform on Synthetix that support perps trading include Kwenta, Polynomial, Decentrex, and dHEDGE

Perpetual futures contracts are a type of derivatives that allows traders to bet on future prices of an underlying digital asset without having to hold the actual asset. The markets have no expiration and trade 24/7, often with high leverage.

The price of Sythentix‘ native token SNX rose 3.5% on Wednesday to trade at highs of $2.60. SNX was up 17% in the past week at the time of writing, although its value remains more than 90% down from its all-time high above $28 reached in February 2021.

All Dutch and English crypto news!

7 must-read books for aspiring tech entrepreneurs

If you're an aspiring tech entrepreneur looking for insights and inspiration to enhance your knowledge and skills, here are seven must-read books to consider: The Lean...

Europese mijlpaal: 5 jaar Bitcoin salaris voor medewerkers BLOX & BTC Direct

Voor sommigen is het nog toekomstmuziek, voor anderen al lang een realiteit: een salaris uitbetaald in Bitcoin. Voor de medewerkers van BLOX en zusterbedrijf BTC...

Bybit gets “in-principle” approval to begin operations in Kazakhstan

Bybit has been in the process of expanding its service offerings. Bybit received "in-principle" approval from the Astana International Financial Centre to begin operations in Kazakhstan. The...

Crypto analyse: Bitcoin maakt de beste candle van deze maand

Bitcoin heeft vannacht zijn wekelijkse candle gesloten met maar liefst 5% in de plus. Dit is een positieve wending in een maand vol rode candles....

Beste exchanges

Koop je crypto bij Bitvavo