SynFutures announced a US$22 million Series B in October 2023, led by Pantera Capital, as it introduced V3 and its Oyster AMM design. The company said it would use the funding for product development, beginning with V3’s planned mainnet rollout, and for future ecosystem and multichain expansion. The “crypto winter” framing describes the subdued funding environment at the time—not current market conditions.
Who invested in SynFutures’ Series B?
Pantera Capital led the round. SIG DT Investments, a member of Susquehanna International Group, and HashKey Capital also participated, according to SynFutures’ October 2023 announcement. The company said the raise brought its total funding to US$38 million.
The Block reported that CEO Rachel Lin declined to comment on the round’s valuation and structure. No valuation was disclosed in the reporting cited here.
What did SynFutures say it would do with the funding?
SynFutures said the proceeds would support product development, starting with the V3 mainnet rollout, as well as future ecosystem and multichain expansion. The October 2023 announcement said the mainnet rollout was planned for Q4 2023. That announcement is not, by itself, confirmation of the actual launch date or current availability on any particular network.
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What is Oyster AMM?
SynFutures introduced Oyster AMM alongside V3 as an on-chain design for perpetual-futures markets. The company described it as combining concentrated liquidity with on-chain order-book functions. It also said the design supports permissionless creation of trading pairs and single-token liquidity provision.
In the announcement, CEO Rachel Lin said, “Our hope is that V3 proves a tipping point, and our Oyster AMM empowers both professional and retail traders to access DeFi derivatives trading at a mass scale.” This was an aspiration, not evidence that the product achieved mass adoption.
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SynFutures also described a dynamic penalty-fee mechanism and mark prices stabilized using an exponential moving average in its product materials. These are descriptions of the protocol’s design; they do not establish independently verified execution quality, lower risk, or superior capital efficiency. The company’s 2023 announcement discussed markets spanning major crypto assets, altcoins, NFTs, and indices, but that historical description should not be read as a list of markets currently available.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What scale did SynFutures report at the time?
In its October 2023 announcement, SynFutures claimed US$22 billion in cumulative trading volume since the V1 beta launch in October 2021. That figure was company-reported and was not presented as an independent audit.
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- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
SynFutures’ later documentation also gives cumulative-volume, trader-count, and listed-pair figures, but the indexed excerpt does not specify when those metrics were measured. They therefore do not establish the platform’s scale at the time of the Series B announcement.
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What the announcement does—and does not—establish
- Established by the announcement: the amount raised, the named investors, the company’s stated use of proceeds, and its planned Q4 2023 mainnet timing.
- Not established here: a disclosed valuation, an independently verified launch date, current chain-by-chain availability, or independently audited cumulative volume.
- Later plans: SynFutures’ January 2026 roadmap describes proposed milestones including a new mainnet protocol, additional assets such as stocks and indexes, mobile trading, and governance changes. The roadmap cautions that timelines, features, and implementations can change; planned milestones are not proof of completed launches.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
