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Binance Ends Support for BUSD Stablecoin: What It Means for Users and the Future of Stablecoins

Binance, one of the largest cryptocurrency exchanges in the world, has made the decision to end support for its Binance USD (BUSD) stablecoin. This move comes after Paxos, the company responsible for minting new BUSD coins, announced that it would be halting its operations. The transition is set to take place on December 15th, and it will have significant implications for users of the BUSD stablecoin. Automatic Conversion to First Digital USD Starting on December 31st, many users' BUSD balances on Binance will be automatically converted into First Digital USD. This conversion will take place seamlessly, and users will not be required to take any action. The transition is designed to ensure a smooth and uninterrupted experience for BUSD users. Implications for BUSD Users While the automatic conversion should minimize any disruption for BUSD users, it is important for them to be aware of the implications of this change. Once their BUSD balances are converted into First Digital US

SynFutures Secures $22 Million Funding for V3 Platform Release, Revolutionizing DeFi Perpetual Futures Trading

CEO of SynFutures, expressed her excitement about the latest funding round and the upcoming release of the V3 platform. She highlighted the importance of Oyster AMM in enhancing liquidity and capital efficiency in the realm of decentralized finance (DeFi). With the inclusion of major crypto assets, stablecoins, NFTs, and indices, SynFutures aims to provide a comprehensive and efficient trading experience for its users. The integration of Polygon blockchain network ensures fast and cheap transactions, while the presence of two-sided liquidity simplifies the process for users. This latest development is a significant step forward for SynFutures and the broader DeFi ecosystem as they continue to pave the way for mainstream adoption.

The recent funding round for SynFutures has not only brought in an impressive $22 million but has also pushed the total funding of the Singapore-based decentralized exchange (DEX) to $38 million. Spearheaded by Pantera Capital, a renowned venture capital firm, and with participation from SIG DT Investments and HashKey Capital, this funding round signifies the confidence and support that SynFutures has garnered from industry leaders.

Perpetual futures, the focus of SynFutures, are a type of financial derivative commonly used in cryptocurrency and commodities trading. Unlike traditional futures contracts that have a specified maturity date, perpetual futures do not have a fixed expiration date and can be traded with leverage. This allows traders to control a larger position than their initial capital would allow, providing greater flexibility and potential profits.

Alongside the funding announcement, SynFutures has unveiled the V3 of its platform, with the mainnet release scheduled for the fourth quarter of 2023. The upgraded V3 platform incorporates an Oyster automated market maker (Oyster AMM) that is fully deployed on-chain. Oyster AMM combines attributes of orderbook and AMM models in a single approach, enhancing liquidity and capital efficiency in the realm of decentralized finance (DeFi).

In the world of decentralized exchanges, Uniswap is perhaps the largest and most well-known automated market maker (AMM) on the market. Orderbook models, on the other hand, are essentially how centralized exchanges match buy and sell orders. By combining these two models, SynFutures aims to provide a seamless and efficient trading experience for its users.

Built on the Polygon blockchain network, which boasts fast and cheap transactions, SynFutures ensures the presence of two-sided liquidity. This means that users can provide liquidity with just a single token of a trading pair, simplifying the process and eliminating unnecessary complexities.

The ability of DeFi to reinvigorate and fortify its derivatives ecosystem is crucial for the mainstream adoption of cryptocurrencies. SynFutures' V3 platform, with its Oyster AMM and comprehensive range of trading options, is a significant step forward in achieving this goal. As the crypto industry continues to evolve, SynFutures is at the forefront of driving innovation and providing users with a seamless and efficient trading experience. With its latest funding round and upcoming platform release, SynFutures is well-positioned to lead the charge in the ever-expanding world of decentralized finance.


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