Futureswap Raises $12M from Ribbit Capital, Framework, Placeholder, True, and more; Now Announcing V4 Launch of its AMM-based Perpetuals DEX
In partnership with Chainlink, Visor Finance, NFTX and Gelato, Futureswap V4 launches on top of Uniswap V3 and Arbitrum, with the goal of offering the best price execution of any perpetuals DEX in the market.
SAN FRANCISCO, Oct. 11, 2021 /PRNewswire-PRWeb/ -- Futureswap, the first decentralized, AMM-based perpetuals protocol that enables leverage up to 30x on any Uniswap pair, launches V4 after raising $12M from Ribbit Capital, Framework, Placeholder, and more. The funding round was co-led by Ribbit Capital, Framework, True, and Placeholder. Futureswap V4 leverages Uniswap V3's core exchange and its supporting ecosystem. The first supported chain will be Arbitrum, a low-fee and fast Layer-2 scaling solution built on Ethereum. As a user-governed protocol, Futureswap is composable and highly capital efficient.
Zack Rosen, Investor at Ribbit Capital, shared, "The Futureswap team's vision to build more efficient and transparent financial markets is a large step forward in transforming the world of finance. We believe DeFi has the potential to enable radically new financial products. We have been impressed by the quality of people that have joined Futureswap on their journey and excited to be their partner."
Perpetual contracts are a crypto-native derivative instrument similar to futures, except perpetuals have no expiry date. With over $4.2B in volume, Futureswap is the premiere perpetuals trading DEX for professionals while offering liquidity providers some of the highest yield opportunities in DeFi, attracting many of the largest suppliers in the digital asset space.
Futureswap's V4 launch includes a redesign that enables the competitive price execution of any perpetuals DEX in the market, along with lower fees, unlimited asset pairs, and economic safety with the elimination of impermanent loss for liquidity providers. Impermanent loss, which entails losing value by providing liquidity to AMMs, is a risk native to DeFi. The elimination of impermanent loss enables Futureswap to proliferate into an unstoppable liquidity protocol for global finance.
Derek Alia, Co-Founder of Futureswap, shared, "Not only is Futureswap a revolution for traders but it's also a new primitive for developers to build novel and exciting products leveraging the Futureswap protocol. We're very excited to host the next wave of builders and markets."
Futureswap will utilize its partnerships with Chainlink, Arbitrum, NFTX, REN, Gelato, and Visor Finance to deliver their industry-leading V4 update, with each partner contributing a preeminent component.
For media inquiries, please contact Raneem Hamad at Raneem[at]melrosepr[dot]com.
About Futureswap
Futureswap is a decentralized, AMM-based perpetuals protocol enabling high leverage and capital-efficient trading. As a user-governed protocol and DEX, Futureswap is completely permissionless and composable, highly capital-efficient, and aims to offer best-in-class price execution. Futureswap is the premiere protocol for professional perpetual traders, liquidity providers seeking high-yield opportunities, and developers motivated to build innovative dapps.
Media Contact
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SOURCE Futureswap
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