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SynFutures Announces USD22M Series B and Launches V3 Perpetual Futures DEX with Proprietary Oyster AMM



  • Innovative Oyster AMM combines onchain order book and AMM to upgrade DeFi trading efficiency
  • Investors include Pantera Capital, SIG DT Investments, HashKey Capital; funds to support multi-chain expansion and new product development

SynFutures, a leading decentralized exchange for perpetual futures, today announced it has recently closed a Series B fundraising round of US$22 million, led by Pantera Capital, with participation from SIG DT Investments, a member of the Susquehanna International Group (SIG DTI) and HashKey Capital. This latest round brings the total funding SynFutures has raised to date to US$38 million.

The fundraising announcement comes alongside the launch of the decentralized exchange’s (DEX’s) new V3 platform for perpetual futures (“perps”). The upgrade features SynFutures’ proprietary Oyster automated market maker (Oyster AMM). Deployed fully on-chain, it combines the best of orderbook and AMM models in a single approach. Designed to enhance decentralized finance (DeFi) liquidity and capital efficiency, SynFutures V3 aims to compete head on with the crypto finance industry’s centralized exchanges (CEXs).

“On CEXs and in most traditional financial markets, derivatives trading eclipses spot market volumes by three to five times. Yet for DeFi, a huge gap remains for derivatives. To address that gap, and thereby improve the overall health of the DeFi trading environment, our V3 platform is designed to enhance trading efficiency, especially by concentrating liquidity. 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,” said Rachel Lin, Co-founder and CEO of SynFutures. “The name “Oyster AMM” reflects the completely permissionless listing of futures trading pairs on SynFutures DEX, as well as the ‘pearls’ that appear on a liquidity curve with limit orders, as is the case with our model.”

V3 Bridges the DeFi Derivatives Gap as Crypto Winter Set to Defrost in 2024

SynFutures is launching its V3, with the mainnet launch set for Q4 2023, in the anticipation that various market forces – including the upcoming Bitcoin halving, accelerating traditional finance (TradFi) participation in Web3, and the coming end of the Fed’s tightening cycle – will thaw the current crypto winter in 2024.

Demand for DeFi services and adoption has seen significant growth since FTX’s implosion last year, as investors are placing greater value on transparency and self-custody. But market efficiency, especially capital efficiency, has remained a major challenge for DeFi. While DeFi platforms including UNISWAP have introduced concentrated liquidity models for spot trading, SynFutures V3 extends such support to the DeFi perpetual futures market through the specially-designed Oyster AMM.

What is Oyster AMM?

Specifically tailored for perpetual futures, Oyster AMM enables permissionless listing of any trading pairs, encompassing major crypto assets, altcoins, NFTs and indices in 30 seconds, all while ensuring two-sided liquidity, where users can provide just a single token of a trading pair, as was the case with SynFutures V1 and V2.

To boost liquidity, the Oyster AMM presents an innovative market making paradigm by seamlessly integrating concentrated liquidity and on chain order book in a single model, offering a unified liquidity system tailored to active traders and passive liquidity providers. The model facilitates liquidity concentration within specific price ranges and incorporates leverage for automated market makers, as well as introduces an order book system deployed fully on chain. This ensures security and robustness by eliminating dependence on centralized administrators and mitigating vulnerabilities across on-off chain systems.

“The SynFutures team is seasoned in both traditional finance best practices and pioneering blockchain innovation. And this latest upgrade sets a new bar for efficiency in DeFi trading, thanks to the integrated model combining AMM with an on-chain order book, in an innovative approach that’s tailored to derivatives,” said Paul Veradittakit, Managing Partner at Pantera Capital.

“As more TradFi players chart a course into digital assets, SynFutures is uniquely positioned to bridge the gap between traditional and decentralized finance. We are impressed with the team’s long-term vision and robust product roadmap, which we see as foundational for traditional institutions to deepen their engagement in the growing digital asset ecosystem,” said Vir Anand, Investor for SIG DT Investments, a member of the Susquehanna International Group.

“We’ve been backers of SynFutures since day zero, and from that moment on Rachel Lin, Yizhou Cao, and their team have been relentlessly driving to today’s achievement — a derivatives market with such a high level of permissionless market creation that it transforms DeFi itself,” said Adam Goldberg, co-founder of Standard Crypto, which led SynFutures’ Seed round at the end of 2020.

Since launching its V1 beta in October 2021, SynFutures’ DEX has achieved US$22 billion in cumulative trading volume to date. The fresh capital injection from the new and returning investors will be used to drive product development, starting with the V3 mainnet rollout, as well as future ecosystem and multi-chain expansion.

About SynFutures

SynFutures is a next-generation Web3.0 decentralized derivatives infrastructure that creates an open and trustless derivatives market by enabling trading on anything with a price feed anytime. SynFutures democratizes the derivatives market by employing an Amazon-like business model, giving users the tools to freely trade any assets and list arbitrary futures contracts within seconds.

Deployed on multiple blockchains, SynFutures is currently the largest derivatives exchange on Polygon and is among the top three most actively used decentralized derivatives exchanges. Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Hashkey Capital, Dragonfly Capital, Standard Crypto, and Framework Ventures, and team members have extensive experience at global financial institutions, fintech companies, and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.


Yango Launches ‘Elite’ Tariff, Showcasing Commitment to Quality



yango dubai

Dubai: Embracing the ethos that excellence is not an act but a habit, Yango ride-hailing service is introducing the Elite tariff, a new premium service class, for its discerning users in Dubai. Designed for those special occasions when only the best will do, the Elite tariff redefines travel with elegant experiences.

Yango has always been committed to service quality, and the Elite tariff is no exception. Drivers for the Elite tariff are handpicked and have undergone rigorous special training designed to exceed rider expectations on every journey. This includes enhanced customer service training and etiquette to ensure every interaction is memorable. Passengers will experience travel in a class of its own, featuring top-of-the-line vehicles such as the Mercedes-Benz S-Class or BMW 7 Series. These cars are not just a means of transport but a part of the experience, combining comfort with unparalleled style.

Moreover, the Elite experience is tailored to pamper customers from the moment they step into the vehicle. Drivers will greet customers with courtesy, opening the door to add an extra touch of class. Inside, passengers will find a serene environment, complete with complimentary water, ensuring their comfort throughout the ride. Every detail, from the seamless booking process to the attentive service provided by partner drivers, is carefully considered to ensure Yango’s service quality leaves a lasting impression.

Islam Abdul Karim, General Manager, Yango GCC, commented: “We have poured our passion for quality into every aspect of this service, from the meticulous selection and training of our drivers to the curation of a fleet comprised solely of premium vehicles. What truly sets us apart is our extensive footprint in over 20 countries, which not only empowers us with a deep understanding of diverse customer needs but also fuels our drive for innovation. With the Elite tariff, we’re not just offering rides; we’re creating experiences that redefine luxury and convenience.”

Available now through the Yango app, the Elite tariff is more than just a ride — it’s a lifestyle choice. Following last year’s successful launch of the Kids’ service class, which catered specifically to the safety and convenience of families travelling with young children, the Elite tariff is a direct response to the riders’ demands for more bespoke travel options. For the next special occasion, choose Elite and turn every journey into a celebration of luxury and comfort.

For more information, please visit or download the Yango app from Google Play or the App Store.

About Yango

Yango is a tech company that transforms global technologies into everyday services tailored for local communities. With an unwavering commitment to innovation, we reshape and enhance leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions.

Our mission is to bridge the gap between leading world innovations and local communities, fostering connections and enhancing everyday living experiences. In addition to ride-hailing services, Yango Maps, Yango Delivery, Yango Play, Yango Tech, and Yasmina, an advanced Arabic human-like AI voice assistant, are also available in the UAE.

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Mappable launches Neurogeocoder API to revolutionize mapping solutions for UAE businesses




Mappable, a global company that brings powerful and highly customizable mapping solutions to the local markets, announces the launch of its new product — the Neurogeocoder API, which is now available to all clients in the UAE.

The Neurogeocoder API, powered by machine learning and AI, is a game-changer in geospatial solutions, particularly in light of the projected 14.2% CAGR growth of the global digital map market by 2030. Unlike standard geocoders with fixed algorithms set by the development team, Neurogeocoder’s adaptive nature ensures precise results, even with unstructured location queries containing errors or typos. This advanced tool allows for the seamless display of user-entered addresses on maps and facilitates the transformation of map points into detailed street addresses, ensuring precise and reliable location results. By recognizing local expressions for districts, towers, and roads, the Neurogeocoder effectively links them to specific addresses or points, a feat beyond the capabilities of standard geocoders.

The Neurogeocoder API is a powerful tool for various industries, including e-commerce, real estate, food-tech, ride-tech, and logistics. It helps quickly translate large address volumes into coordinates and vice versa, as well as process intricate or locally specific location queries for different business scenarios. For e-commerce, the Neurogeocoder can enhance customer service by displaying pickup points on maps, allowing users to choose the most convenient location when placing orders. For real estate companies, the tool can accurately showcase property locations, helping potential buyers visualize the surroundings to make informed decisions when considering a purchase. For logistics services, the API optimizes operations by providing accurate addresses to managers for better cost estimation of deliveries, leading to increased operational efficiency and cost savings for the business.

In addition to the Neurogeocoder API, Mappable offers a comprehensive suite of solutions tailored to multiple business needs:

  • Performative, customizable, and data-rich maps for clients’ websites, apps, or CRM.
  • Automatic geo verification and easy search by address, coordinates, and other parameters.
  • Navigation and route planning tools that take into account traffic and weather forecasts as well as other parameters, to help drivers, couriers, and other professionals efficiently move around the country.

“The UAE is rapidly progressing in the fields of technology, e-commerce, and smart mobility and we’re excited to support businesses on this journey. Mappable solutions allow companies to optimize logistics and enhance customer service quality by automating processes and reducing workloads on internal personnel, call centers and order-processing specialists. We know what local businesses need and are constantly updating our products, using machine learning and AI to give our clients the best possible mapping solutions. The newly launched Neurogeocoder is a great example of this. It understands our address-inputting habits and adapts to them”, explained Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable.

Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable

All Mappable solutions provide extensive customization opportunities, and a wide range of licensing choices. The company has also launched an online self-service desk, which gives easy and fast access to its APIs — for trial or license purchase. More information can be found at

About Mappable:

Mappable is a global mapping and geospatial solutions provider based in the UAE, offering powerful and customizable business solutions to local markets. With a focus on innovation and precision, Mappable provides cutting-edge mapping, geospatial, and navigation technologies to meet the diverse business needs of e-commerce platforms, retail chains, logistics and delivery firms, manufacturing enterprises, ride-tech and food-tech companies, telecommunications corporations, banks, as well as the public sector.

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Yango showcases latest innovations to transform urban transport at Mobility Live ME




Abu Dhabi, UAE, Yango, an international tech company, made a significant impact as the Silver Sponsor at Mobility Live ME, the region’s most crucial event focusing on disruptive technology in mobility. Being committed to leveraging the power of technology to improve its users’ lives, Yango showcased its latest products and innovations and presented insights tailored to the MENA region’s evolving demands.

Building on its reputation for unique service offerings, the company recently launched Yango Drive, a comprehensive car rental marketplace integrated within the Yango SuperApp that is gaining substantial traction in Dubai. It features a digital booking system that offers an array of 3,500 cars, providing a seamless, high-quality rental experience from booking to return. This service reflects Yango’s commitment to comfort, convenience, and sustainability, supporting the shift towards shared mobility and aligning with the UAE’s Net Zero 2050 and Dubai Urban Plan 2040 initiatives.

Furthermore, in alignment with its dedication to enriching local communities, the ‘Prayer Mode’ for Muslim drivers was recently launched during the holy month of Ramadan. This feature facilitates drivers’ adherence to prayer schedules and includes innovative mapping and smart routing technologies to locate the nearest mosques. The app also mutes notifications during prayer times and provides directions to the Qibla, ensuring drivers can seamlessly balance their professional responsibilities with their religious practices.

Islam Abdul Karim, General Manager, Yango GCC, said: “We have seen great demand for our services since our entry into the market and are dedicated to developing a safe and comfortable urban transport system to keep up with this demand. With technology at the heart of our mission, we are not just responding to the current status but are actively shaping the future of mobility with innovative solutions and features. We will continue to set new standards in the industry, contributing to creating smart, sustainable cities.”

Islam spoke in a panel discussion at Mobility Live: “Movers and Shapers: Shining a Spotlight on the Game-Changers in Modern Transport Systems.” Shashi Shekhar Singh, Director of New Markets at Yango, delivered a keynote speech on the “Future of Mobility,” delving into how the company redefines urban mobility.

The company’s commitment to innovation is reflected in its diverse range of services, including Yango Maps, Yango ride-hailing service, Yango Play, Yango Tech, the advanced Arabic human-like AI voice assistant Yasmina, and many more, all of which are designed to enhance the everyday lives of local communities. As one of the leading apps in the region, the company is committed to supporting local transport providers, creating jobs, and fostering long-term partnerships with local communities and governments.

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