SynFutures, a decentralized exchange (DEX) focused on perpetual derivatives trading on Base, has made an announcement regarding the establishment of the SynFutures Foundation and the initiation of an airdrop of its native F token.
According to the official press release, the foundation is set to promote community-driven governance, supervise the development of the platform, and encourage partnerships through grants and funding programs.
The F token, which is based on the Ethereum network, will confer governance privileges, staking incentives, and fee reductions to its holders. SynFutures intends to distribute a total of 10 billion F tokens, with 7.5% being made available during the Season 1 Airdrop on December 6, 2024. Eligible participants comprise those who have actively interacted with SynFutures versions 1 through 3.
A number of significant exchanges such as Bybit, Gate.io, Bitget, and KuCoin are backing the airdrop. Bybit is conducting a launchpool activity from December 2 to 5, enabling users to acquire F tokens prior to its listing. Gate.io is also providing a similar scheme with a distribution of 75,000 F tokens.
SynFutures has the support of premier venture capital firms like Pantera, Dragonfly, and Polychain. The platform recently unveiled a Perp Launchpad and awarded a $1 million grant to promote the consideration of under-the-radar coins. In September, SynFutures introduced two perpetual contracts with 10x leverage, allowing traders to take positions related to the US presidential election.
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