🌎 SynFutures Unveils Perpetual Contracts for 2024 US Election Betting

SynFutures, a decentralized derivatives protocol, has introduced perpetual contracts enabling users to trade on the 2024 U.S. election outcome.

SynFutures Launches Election-Based Perpetual Contracts

On September 19, SynFutures announced the rollout of two perpetual contracts related to the upcoming U.S. election. These contracts allow users to bet on the winning rate between Vice President Kamala Harris and former President Donald Trump. The trading pairs are paired with USDC, focusing on who will emerge victorious in the 2024 U.S. election.

Understanding Perpetual Futures Contracts

Perpetual futures contracts are a type of crypto derivative instrument that traders use to speculate on the future price of an underlying digital asset. These contracts typically involve assets like Bitcoin or Ethereum but can also include other cryptocurrencies. Unlike traditional futures contracts, perpetual futures do not have an expiration date, allowing traders to hold positions indefinitely.

Key Features of Perpetual Futures Contracts

Speculate on future prices without owning the underlying asset.
No expiration date, enabling indefinite position holding.
Typically involve major cryptocurrencies like Bitcoin and Ethereum.

Details of Trump and Harris Perpetuals

As of September 19, SynFutures offers TRUMP-USDC and HARRIS-USDC perpetual futures pairs. These contracts allow traders to speculate on the Polymarket rate regarding who will win the U.S. presidential election in November 2024. The perpetuals offer up to 10x leverage, tracking the Polymarket bet on the ‘Presidential Election Winner 2024’.