A few months after launching the third version of its tesnet, SynFutures recently deployed its mainnet on the Blast network, positioning itself as the largest DEX on this protocol. SynFutures V3 introduced a new Synthetic AMM model, called Oyster, which promises greater capital efficiency for LPs.
As part of the roll-out of V3 of its tesnet, SynFutures also confirmed the future launch of its own native token, in addition to launching a points system designed to reward its most active users. In this article, you'll find out how to earn points on SynFutures in order to be eligible for the protocol's airdrop.
SynFutures is a decentralised perpetual trading protocol. The platform, recently deployed on the Blast network, allows users to trade several hundred pairs of assets, as well as creating and providing liquidity in specialised pools in exchange for rewards.
V3 of the SynFutures tesnet introduces a number of features that take the AMM concept to a whole new level. These include 'Oyster', its new sAMM (Synthetic Automated Market Maker) model, a fully blockchain-based order book, plus a unified liquidity system:
We could also talk in more detail about its single token concentrated liquidity mechanism or its stabilisation model for user protection, which are key elements of Oyster AMM.
SynFutures recently raised a total of $38 million from leading investment funds such as Pantera Capital, Susquehanna International Group (SIG) and HashKey Capital.
Today, SynFutures has a TVL (Total Value Locked) of approximately $3.36 million, records a total trading volume approaching $23 billion, and has welcomed more than 110,000 unique traders since its launch.
The SynFutures platform recently introduced its own points system, named 'Odyssey', after announcing that all of its airdrop collected by Blast will be redistributed to its users. In practical terms, this points programme will enable SynFutures to measure the degree of engagement of its users over the coming months.
Eventually, users with the most points will be eligible for the airdrop that SynFutures will offer when it launches its native token.
Now let's look at the steps you need to take to earn points on SynFutures:
But that's not all. By interacting with SynFutures, you also expose yourself to the Blast protocol airdrop. Since the SynFutures tesnet is deployed on the Blast network, interacting with the protocol will make you potentially eligible for layer 2 airdrop.
First and foremost, you will need an EVM-compatible wallet to interact with the SynFutures protocol.
To be able to interact with the SynFutures mainnet, you must first deposit funds onto it.
To do this, go to the Portfolio section, select the token you wish to deposit (USDB or WETH), then click on 'Deposit'.
Then choose the amount to deposit, click on "Confirm", and confirm the transaction from your wallet.
The funds you have deposited will then appear in the "Total Value" section of your SynFutures portfolio.
A mystery box is distributed to each user who registers for the SynFutures points system. To do this, you must first go to the protocol: [click on this link]
Then click on the "Odyssey" section, and follow the instructions displayed on the page, namely:
The funds you have deposited will then appear in the "Total Value" section of your SynFutures portfolio.
Once these three criteria have been met, the protocol will ask you to open your mystery box, which contains a certain number of 'bonus' points. Of course, the number of points is randomly generated, but expect to receive a few hundred.
To go to the general SynFutures leaderboard, simply click on 'Leaderboard', and the top 500 users with the most points will be displayed. At the time of writing, almost 50,000 users are participating in this points system, while the top 500 stands at 2,567 points.
Another way to earn points on SynFutures is to place a limit order. To do this, go to the Trade section.
From there, choose a trading pair to trade (by clicking on the pair currently in use), then check that this pair is eligible for points, where a 'points' logo is displayed.
You will then need to configure your limit order to buy (Long) or sell (Short) by entering:
Finally, click on Buy / Sell to place your order on the SynFutures market. Your order will then be available in the 'Position' or 'Open Order' section just below the trading interface.
For the moment, only adding liquidity (in addition to sponsorship) makes you eligible for points on SynFutures.
Here's how to add liquidity to SynFutures:
First, click on the "Earn" tab in the main menu bar. In this section you will find all the liquidity pools available on SynFutures. Choose an eligible pool (marked with a "Points" logo) to which you would like to contribute by depositing liquidity.
Once you have decided, click on the 'Add Liquidity' button next to the chosen pool.
Then enter the amount of assets (USDM) you wish to deposit as liquidity. You can generally choose to deposit a specific amount or use predefined percentages of your total balance.
From now on, select a specific price range where your liquidity will be 'active', in order to optimise the use of your capital. The higher the APY (Annual Percentage Yield) displayed, the higher your liquidation risk will be. If you are not very comfortable with this type of transaction, we strongly advise you not to opt for a price range that is too 'tight'.
All that's left for you to do is click on 'Confirm', and finalise the deposit from your wallet.
As you know, SynFutures also has a sponsorship system:
To invite a user via your referral link, start by going to the "Odyssey" section of SynFutures, then click on "Earn Points". Your link can be retrieved by clicking on "Copy Referral Link". Feel free to share it on the networks of your choice, to invite as many users as possible to SynFutures.
Note that a limited number of links will have boosts that will make you eligible for a points boost for a certain period. What's more, every time you invite someone with your link, you'll receive a mystery box (see section 1) as a reward guide.
Finally, the users you invite will make up your 'squad', a team through which you can obtain various rewards, such as additional rewards (e.g. boosts), for each TVL (Total Value Locked) level reached.
Your squad's TVL will be displayed in the "Squad Goal" tab on the SynFutures "Odyssey" page.
Users who lock in their funds via the SynFutures cash pools will be eligible for 'spins'. The number of spins distributed to users will depend on their blocked volume and the length of the blocking period.
In addition, teams that reach certain TVL (locked-in liquidity) levels will have a chance of obtaining 'super spins', with rewards up to 10 times greater than traditional spins.
You now know all the steps to follow to earn points on the SynFutures protocol. However, you should be aware that SynFutures has a system that automatically detects irregular activity and "dishonest interactions" on its protocol. Users who expose themselves to this type of operation in order to earn more points will not be able to claim their rewards once the programme has ended.
