SynFutures announces F token airdrop

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

The SynFutures Foundation will collaborate with the community to oversee the DEX platform’s development and secure key partnerships. As a community-led governance initiative, the foundation aims to ensure the success of grants, project collaborations, and funding programs.

The F token is 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 additional airdrops planned in the future.

SynFutures noted in a press release that the airdrop will benefit the community, the DEX’s backers and advisors, the foundation treasury, and core contributors. F is also reserved for liquidity and protocol development.

The community will receive 28.5% of the total F token supply, with 7.5% available for distribution during the Season 1 Airdrop on December 6, 2024. Eligible participants include users who have interacted consistently with SynFutures from v1 to v3.

Several crypto exchanges, including Bybit, Gate.io, Bitget, and KuCoin, have expressed support for the F token airdrop. Bybit will host a launchpool initiative between Dec. 2 and Dec. 5, allowing participants to earn F ahead of its listing. Gate.io is offering a similar program with 75,000 F tokens available.

SynFutures is backed by prominent venture capital platforms such as Pantera, Dragonfly, Polychain, Standard Crypto, and SIG.

The platform recently unveiled a Perp Launchpad, offering a $1 million grant to support tokens deemed under the radar. In September, SynFutures rolled out two perpertual contracts with 10x leverage that allowed traders to bet on the U.S. election.