NFTures, which is an NFT futures trading platform of Synfutures, is currently accessible on Polygon zkEVM. Along with that, users will also be connected to short and long NFT collections, Bored Ape Yacht Club, Azuki, and others amidst the mainnet trial stage.
In March 2023, SynFutures was instrumental in delivering NFTures Closed Alpha, which, for the Web3 community, meant the arena of NFT futures. They were able to guess the upcoming cost of NFT collections via long or short positions having leverage till 3x.
Currently, following the growth of the ZK technology, SynFutures is shifting the feature onto Polygon zkEVM mainnet beta. Seasoned traders and NFT-inclined users will be exposed to the options regarding NFT futures.
Polygon zkEVM is basically a decentralized Ethereum Layer 2 upgradability solution that utilizes cryptographic zero-knowledge proofs for providing viability and fast finality in the case of off-chain transaction computation. This is also called a ZK-Rollup. Ever since its inception, there has been more than $32 million in the form of TVL and nearly 40,000 transactions carried out through 200,000 wallets.
According to the Director of Growth at Polygon Labs, Hamzah Khan, Polygon zkEVM collects the strength of ZK proofs for lessening the cost of transactions and heightens throughput, which helps in creating fresh options for projects, as well as users, throughout the Web3 ecosystem.
So far as the Co-Founder and CEO of SynFutures, Rachel Lin is concerned, she is of the opinion that the ZK technology is moving forward swiftly, and the aspect of safety and upgradability to the Web3 ecosystem that it provides holds significance. They are glad they are being able to shift NFT futures trading to Polygon zkEVM.
SynFutures is a new-age Web3 decentralized derivatives framework that has the capacity to build a trustless and open derivatives market by making it possible to trade just about anything coming with a price feed. SynFutures is able to balance the derivatives via the utilization of a unique business system. This provides users the opportunity to carry out trading of any asset and register arbitrary futures contracts in the blink of an eye. SynFutures is positioned on various blockchains and, presently, is the biggest derivatives exchange on Polygon.