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

SynFutures, a decentralized derivatives trading platform, has launched Perp Launchpad, designed to help crypto projects build permanent futures markets.

According to the SynFutures press release, the goal of the platform is to increase trading access for lesser-known tokens and provide users with more opportunities to interact with a variety of digital assets.

Meet SynFutures Perp Launchpad + $1,000,000 Grant 🎉
This is the first crypto derivatives launch pad ever. Now any project can launch permanent futures pairs for any crypto asset.
Additionally, SynFutures is dedicating a $1 million Perp Launchpad Grant to support… pic.twitter.com/WUZ6NuyHT2

— SynFutures (@SynFuturesDefi) November 5, 2024

This launchpad stands out because it focuses specifically on perpetual futures markets, a type of derivatives market. Perpetual futures are contracts that remain open indefinitely and are mostly 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 offering a $1 million grant program to support token projects by providing financial support, liquidity and marketing assistance, helping new projects increase visibility and attract users.

SynFutures expands access to derivatives, allowing these projects to list tokens and offer additional ways for communities to interact through trading and liquidity provision.

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

SynFutures’ launch panel also caters to retail investors, providing access to a wider range of tokens, including popular memecoins. The platform offers incentives to encourage traders to participate in on-chain derivatives markets, such as trading competitions.