Providing GHST as Liquidity on the Derivatives DEX SynFutures

Disclaimer: I’m posting this on behalf of the SynFutures team with some slight edits by me.

Author: Moon & SynFutures Team Gotchi ID: 3541 Discourse Thread (Idea/Proposal): https://dao.aavegotchi.com/t/provide-ghst-as-liquidity-on-the-derivatives-dex-synfutures/2664

Since Aavegotchi has gathered a lot of liquidity on Spot DEXes, it is high time for Aavegotchi to create and boost its Futures market. Derivatives markets make up the majority of global trading activity and allow users to leverage their investments. Adding GHST liquidity on SynFutures would allow people to take on leverage longs (or shorts) on the future of Aavegotchi. But why SynFutures?

Great investors and team background SynFutures is backed by Polychain, Pantera, Dragonfly, Framework, Standard Crypto, Woo, and more. The team’s background is a great combination of traditional finance and DeFi. SynFutures is the only project of its kind which can support the listing of any assets by anyone in a permissionless manner (in less than 30s). The project has the potential to be the No’1 Derivatives DEX.

Security Backed by solid experience from the TradFi financial engineering and DeFi protocol safety, SynFutures has many risk management features (e.g. anti-flashloan attack, EMA smoothing method, etc.) and has gone through external code audits.

Easy to manage and start SynFutures supports a single token model to add liquidity which means the Aavegotchi Treasury would only have to deposit GHST instead of offering two tokens with the risk of impermanent loss. We are asking for 200k worth of GHST tokens to kickstart the pool. The liquidity could be withdrawn anytime.

Growth Potential Trading volume and users are growing fast on SynFutures. For the past 3 months since ^the SynFutures Alpha launched, we reached 47k users of and $1bn+ in trading volume. All this happened without a native SynFutures token, which could attract even more users.

Volume analysis Quickswap/SynFutures: Total LPs: 150k / 40K Total traders: 100k / 20k Daily trading volume: $100M / $29M

SynFutures trading volume makes up ~1/3rd of QuickSwap, and the amount traders is 1/5th as big as on QuickSwap, however, the trading volume for different pairs is more concentrated. SynFutures has 108 trading pairs while QuickSwap has more than 22k pairs. For example, the daily trading volume of Matic-USDC on SynFutures closes in on around $9M, while Quickswap reaches $14M.