DeFi Exchanges

FutureSwap: Decentralized Perpetuals with 10x Leverage

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Today we want to talk about a crypto platform that has been active for almost a year but only released its governance token yesterday: FutureSwap. Many are already familiar with this name as it is a remarkable project with a respectable team and important investors. These include 3ArrowsCapital (founded by Su Zhu and Kyle Davies), a company that has invested in many other successful DeFi products such as Aave, Balancer, Perpetual Protocol, dHedge and many others. Let’s take a look at what FutureSwap is and why its FST token could be worth much more in the coming months/years.

FutureSwap – Decentralized Perpetual Futures with up to 10x Leverage

FutureSwap is a somewhat unique DEX that caters to high net worth traders, commonly referred to as whales. Typically, these people have problems trading on platforms such as Uniswap as they are often penalized because of their large orders. With FutureSwap this is not the case, as traders can both benefit from lower slippage and make money while trading. How? Thanks to a specially designed yield and FutureSwap’s governance token, FST. This is distributed to traders and liquidity providers, so the more you trade the more you earn! Not bad, is it?

FutureSwap currently offers the ETH/USDC liquidity pool with a total liquidity of approximately $46 million. The yield from the protocol usage fees currently gives an APY of 59%, but traders can also earn FST tokens daily! Anyone can participate in the pool by connecting their Ethereum wallet to this address: https://exchange.futureswap.com/pool. You will find a message informing you that the product is in beta phase and that you should use it at your own risk. This should not scare you as every DeFi product uses the same warning to protect against any hacks or exploits. 

FutureSwap successfully passed a major audit by OpenZeppelin on January 3rd, 2021, so you can rest assured. The outcome of the audit is available on the company’s own blog, accessible at this link. For a better understanding of how the exchange works you can always visit the DOCS page where everything is explained step by step! The transparency of this project is really high and demonstrates the seriousness of the project. Furthermore the team is public, so you don’t have to worry about anything! P.s. the project currently only has a chat on Discord and not Telegram!

The FutureSwap FST token

Yesterday the FST token was officially launched! As reported on Medium, the maximum supply will be 100 million units but will only be reached after 9 years. Many of the tokens are locked and will be unlocked over the next few days. Let’s take a look at the token distribution:

  • 30% of FST is allocated to the rewards eser, i.e. those who use the exchange or provide liquidity in the various pools. The distribution is linear and ends after 3 years!
  • 18% of the tokens will be used as development funds and will be fully unlocked after 9 years!
  • The team has decided to retain 34 million FST tokens considering that many DeFi projects have been abandoned lately due to the small number of tokens allocated to teams. What is the point of working on a project if there is no financial return? That’s fair enough! These tokens will be unlocked gradually over 3 years.
  • Investors get as much as 12.58 million tokens with linear unlocking and vesting for up to 3 years.

FutureSwap is competing in a market that generates trading volumes of $250 billion per day, so growth could be rapid and exponential! At the moment the token is around $7-8 as many Yield Farmers are selling without understanding the potential of the project itself! This price gives it a fully diluted marketcap of 700-800 million dollars: a small figure for a project of this size (especially considering that the circulating supply will be very low for the first 2 years). An excellent deal in my opinion!

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