SynFutures DEX Introduces SynFutures Foundation and Announces Airdrop of Native F Token

SynFutures, a decentralized exchange for perpetual derivatives trading on Base, has introduced SynFutures Foundation and announced an airdrop of its native token

SynFutures, a decentralized exchange on Base for perpetual derivatives trading, has unveiled the SynFutures Foundation and announced an airdrop of its native token, F.

The foundation will work with the community to oversee the development of the DEX platform and secure key partnerships. It will also manage grants, project collaborations, and funding programs as part of a community-led governance initiative.

The F token, an Ethereum (ETH)-based mainnet asset, will grant holders governance rights, staking rewards, and fee discounts. The airdrop will distribute 10 billion F tokens to the community, with more airdrops planned in the future.

According to a press release from SynFutures, the airdrop will benefit the community, the DEX's backers and advisors, the foundation treasury, and core contributors. Additionally, F tokens will be allocated for liquidity and protocol development.

The community will receive 28.5% of the total F token supply, with 7.5% being distributed during the Season 1 Airdrop on Dec. 6, 2024. Users who have actively interacted with SynFutures from v1 to v3 are eligible to participate.

Several cryptocurrency exchanges, including Bybit, Gate.io, Bitget, and KuCoin, have announced their support for the F token airdrop. Bybit will conduct a launchpool initiative from Dec. 2 to Dec. 5, enabling participants to earn F tokens prior to its listing. Similarly, Gate.io will be hosting a program with 75,000 F tokens up for grabs.

Prominent venture capital platforms such as Pantera, Dragonfly, Polychain, Standard Crypto, and SIG are among the backers of SynFutures.

Recently, the platform launched a Perp Launchpad, offering a $1 million grant to support tokens that are "undervalued." In September, SynFutures introduced two perpetual contracts with 10x leverage, allowing traders to speculate on the U.S. election.