The Futureswap team is aiming to creating a trading experience superior to what is currently offered by centralized futures exchanges. Version 2 of the protocol brings many of the features that more serious traders are accustomed to such as live pricing, performant trading, and high capital efficiency.
The biggest update that V2 brings is the introduction of Futureswap’s Oracle Relayer Network or ORN. The ORN enables instant pricing and a real-time trading experience that is hard generally hard to find in DeFi.
The tradeoff for a smooth trading experience in this instance is full decentralization, the ORN is not fully decentralized but the team is focused on optimizing the oracle network to ensure more node operators can be added and thereby help with achieving greater decentralization. Read more about how the ORN works here.
Futureswap is also launching their native governance token FST which will allow for token holders to participate in democratic governance of the protocol. Traders, liquidity providers, and users that refer their friends will all receive FST on a weekly basis. It’s important to note that FST is currently a non-transferable governance token.
We’ve seen the rapid growth of a multitude of decentralized derivative exchanges pop-up after the fall of BitMex earlier this year. Projects like Futureswap, Perptual Protocol, Alpha Finance, and others are all trying to attract centralized exchange traders with well-aligned user incentives. This area of DeFi will get even more interesting as scalable gas-saving solutions are put in place.
Keep up with Futureswap by follow their Twitter.