Here at Delphi we try our best to keep our ears to the ground to catch early projects for our clients. This requires a decent level of sifting through Twitter feeds, keeping track of Telegram groups, and monitoring project Discord channels. Unfortunately, many promising projects are pre token generation/pre-public sale, making a full economic report less valuable since the takeaways aren’t immediately actionable. With that said, this Delphi Daily installment is an overview of Futureswap, an early-stage Defi project we wanted to put on your radar. If you are an Institutional Subscriber, please read the more comprehensive Futureswap QuickTake piece (to be released on your portal over the weekend).
What is Futureswap?
Futureswap is a decentralised futures trading platform built on Ethereum that utilizes automated market making (AMM) pools for liquidity (for an in-depth breakdown of AMM’s, please refer to our Uniswap and ThorChain reports). While still untested, Futureswap’s pool design and dynamic funding model allows for up to 20x leveraged trading with no slippage. Think of it as a decentralized Bitmex of sort.
From a high level, Futureswap is designed as follows. liquidity providers (LP) add liquidity into asset pair AMM pools. Traders then take positions by depositing collateral into the poo