After we settled on the idea of building an open and trustless derivative market, the next question is how such market can be built on-chain, where gas price might be high or proper price oracle might be missing. The mission becomes more challenging when we want to protect our users from various DeFi attacks, including the infamous flash loan hack, by introducing the widely adopted practices in the traditional financial market. In this blog post, we share with our readers the architecture of SynFutures@v1 and our thoughts behind the design.

Challenges with futures exchange

Compared with the battle-tested spot DEX Uniswap V2, SynFutures@v1 is…

When we set out to contemplate the ideas that eventually turned into SynFutures, we have brainstormed and debated a lot of topics. We will share those topics in a series of medium posts and in this first post, we discuss our view on decentralized derivative products in the perspective of our vision to create an open and trustless derivative market.

📈 A Gap to Fill

According to TokenInsight data, 2020 trading volumes in centralized crypto exchanges amounts to $21 trillion for spot, $12 trillion for futures and $77.2 billion for options. For the top three exchanges, Binance, Huobi and OKEx, derivatives daily trading volumes are…

A next generation synthetic assets derivatives exchange

Decentralized exchanges have come into the spotlight over the past few months, with automated market makers (AMM) solidifying their position as a mainstay technology. Notably, decentralized exchange Uniswap has seen its trading volume reach $30 billion in Jan 2021, transcending its centralized peers and proving the feasibility of building open financial services based on blockchain.

Inspired by this trend, SynFutures focuses on the natural next generation of financial instruments — derivatives, whose market size has long outstripped that of spot in traditional finance. …


Decentralized Synthetic Assets Derivatives Exchange

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