A decentralized derivatives platform, SynFutures, has revealed a $1.4 million raise funds as it opens the trial net for the digital asset trading platform’s first iteration. 

The fundraising round was attended by Standard Crypto and Dragonfly, the estimation of which SynFutures refused to reveal. 

The SynFutures marketplace, equivalent to DeFi ventures like Synthetix, seeks to enable users to release tokens linked to a broad variety of properties, like gold and stocks.

Rachel Lin, previously heading of DeFi and lending at Matrixport, stated in a conversation with The Block that the initiative distinguishes from the rivalry because it provides a more competitive market compared to others. Although Synthetix determines which properties are to be placed on its website, SynFutures would make it possible to release any market that draws Chainlink price info, Lin added. Assets can also function as futures on the exchange, with customers being able to trade with leverage. 

Kết quả hình ảnh cho Dragonfly crypto

SynFutures also intends to collaborate with Bitmain and Houbi on hashrate derivatives help, a tool that helps investors to gamble or bet on the mining complexity of the bitcoin network.

There are more financing projects on the horizon for the businesses. SynFutures plans to increase the Series A round in either the first or second quarter of the year, Lin added. 

The declaration of the seed funding round arrives during an expansionary phase for the DeFi sector, with decentralized exchange volumes increasing as a proportion of the centralized exchange volume since November, as per figures collected by The Block.

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