In July, Base, the "digital western United States", welcomed a major player: SynFutures. As of today, SynFutures has accumulated a volume of 26 billion US dollars on Base, accounting for more than half of the market share of the PerpDEX track in the Base ecosystem.

Recently, SynFutures launched the Perp Launchpad platform on Base, pioneering a new Perptual Futures issuance model.

But before we deconstruct this new toy, we need to understand a brutal reality: in the current market environment, the rise of PerpDEX has encountered a bottleneck, while top players such as dYdX, Hyperliquid, GMX, and SynFutures have already divided the profitable Perptual Futures varieties. The remaining ones are either too poor to sustain Trading Volume or have become Arbitrage tools due to low pricing efficiency.

In this way, in order to obtain new rise space in such a subdivided track background, SynFutures chooses a different path.

1. The innovation of Perp Launchpad: a one-stop Perptual Futures launcher

Perp Launchpad provides Liquidity Depth and price discovery channels for Restaking and Meme tracks through ultra-low Gas environment + ultra-thin spread fund efficiency + $1 million subsidy, trying to capture incremental users mainly based on on-chain Degen, and build the PerpDEX track.

With just one Token, you can launch a Perptual Futures Contract Trading without permission.

The biggest highlight of this mode is:

--dropped the entry threshold for Perptual Futures market.

-- Quickly establish Depth through LP incentive mechanism

• Fast deployment achieved by leveraging Base's low Gas advantage

As evidenced by the case of Lido: wstETH/ETH Perptual Futures went online for only 2 months, and achieved:

-- Total volume: $260 million

--Peak TVL: $918,000 --on-chain transaction volume: 132,000

--Number of users: 1955+

2. Investor Perspective: New Sources of Revenue and Risk Management Tools

For on-chain Degen, SynFutures offers triple profit opportunities:

--LP yield (up to 50%+ annualized) --Cooperative community split

-- Future Token Airdrop expectations and points rewards

At the same time, it can help on-chain Degen manage Restaking assets and memes risks.

But be vigilant:

The Liquidity of the Perptual Futures market often exhibits strong cyclicality.

-- The price discovery process of newly listed trading pairs may bring about significant Fluctuation

--LP faces the risk of Impermanent Loss

3.A new toy for restaking lovers

SynFutures chooses to cooperate with Liquid Staking leaders like Lido, which in a way provides a new channel for realizing assets through Restaking. We can foresee: 01928374656574839201

--More Restaking assets will be introduced into Perptual Futures market

-- The Liquidity of LRT token will be further enhanced

--可能催生新的RestakingDerivatives玩法

SynFutures' data reveals an interesting phenomenon: BTC Restaking assets are becoming the new favorite in the Perptual Futures market.

pumpBTC/ETH and SolvBTC/ETH Perptual Futures have performed particularly well:

--pumpBTC/ETH 24h trading volume of 429.3K and TVL scale of 12M

--SolvBTC/ETH 24h trading volume 341.8K, TVL scale 5M

The TVL of these two trading pairs is close to that of the mainstream currency pair ETH/USDC. Why does this phenomenon occur?

--BTC Restaking is a hot track, and funds need hedging tools.

The correlation between the prices of native BTC and ETH provides a natural pricing benchmark for these trading pairs.

--The intensification of competition between Restaking protocols has bred more speculative demand

4. Long-tail Status Memes Perptual Futures

Surprisingly, the Perptual Futures of memes performed relatively average, not as popular in the market as spot memes, the data is not very good:

--BONK/USDCPerptual Futures: 24h trading volume 7.7K, Depth 405.3K

--PEPE's Perptual Futures: The average daily trading volume fluctuates between 5K-10K, with the market Depth maintained in the range of 300K-500K

--Other MemeToken performs worse

Possible reasons for this phenomenon may include:

The combination of high leverage and high Volatility scares off traders due to the high risk

--The speculative nature of the Meme Coin Spot market often leads to perpetual rate imbalances, which is unfriendly to traders.

--The probability and magnitude of Impermanent Loss are relatively high, and LPers need to control the risk exposure

Conclusion

SynFutures' innovation is essentially reshaping the issuance paradigm of Perptual Futures. It is no longer limited to mainstream assets, but opens the door to the Derivatives market for any Token.

SynFutures' innovation lies not only in dropping the issuance threshold of Perptual Futures, but more importantly, in opening up an important channel for value discovery: from 'blue-chip assets' such as Restaking to 'retail investor favorites' such as memes, all can find their market pricing here.

This inclusive strategy, although risky, may be the necessary path for Perptual Futures to enter the mainstream market. After all, in the Bear Market, sometimes the craziest ideas can create the greatest value.