SynFutures, a decentralized exchange (DEX) specializing in perpetual derivatives trading on Base, has announced the launch of the SynFutures Foundation alongside an airdrop of its native F token.
As per the press release, the foundation aims to drive community-led governance, oversee platform development, and foster partnerships through grants and funding initiatives.
The Ethereum-based F token will grant holders governance rights, staking rewards, and fee discounts. SynFutures plans to distribute 10 billion F tokens in total, with 7.5% available during the Season 1 Airdrop on December 6, 2024. Eligible participants include users who have actively engaged with SynFutures versions 1 through 3.
Several major exchanges, including Bybit, Gate.io, Bitget, and KuCoin, are supporting the airdrop. Bybit is running a launchpool initiative from December 2 to 5, allowing users to earn F tokens ahead of its listing. Gate.io is offering a similar program with a distribution of 75,000 F tokens.
SynFutures is backed by top-tier venture capital firms like Pantera, Dragonfly, and Polychain. The platform recently introduced a Perp Launchpad, rewarding a $1 million grant to encourage coins for consideration under the radar. SynFutures introduced two perpetual contracts with 10x leverage in September, allowing traders to gamble on the US presidential election.
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