SynFutures announces F token airdrop

SynFutures, a decentralized exchange for perpetual derivatives trading on Base, introduced the SynFutures Foundation and announced the airdrop of its native token F.

SynFutures Foundation will collaborate with the community to oversee the development of the DEX platform and secure key partnerships. As a community-led management initiative, the foundation aims to ensure the success of grants, project collaborations and funding programs.

The F token is a mainnet asset based on Ethereum (ETH) and will grant governance rights, staking rewards, and fee discounts to its holders. The airdrop will distribute 10 billion F tokens to the community, and additional airdrops are planned in the future.

SynFutures stated in a press release that the airdrop will benefit the community, DEX’s backers and advisors, foundation treasury, and core contributors. F is also reserved for liquidity and protocol development.

The community will receive 28.5% of the total F token supply, with 7.5% available for distribution in the Season 1 Airdrop on December 6, 2024. Eligible participants include users who have consistently engaged with SynFutures from v1 to v3.

Many crypto exchanges, including Bybit, Gate.io, Bitget, and KuCoin, have expressed support for the F token airdrop. Bybit will be hosting a launch pool initiative from December 2 to December 5 that will allow participants to earn F before listing. Gate.io offers a similar program with 75,000 F tokens.

SynFutures is backed by leading venture capital platforms such as Pantera, Dragonfly, Polychain, Standard Crypto and SIG.

The platform recently introduced Perp Launchpad, offering $1 million in grants to support tokens considered to be on the radar. In September, SynFutures launched two perpetual contracts with 10x leverage, allowing investors to bet on the US elections.