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Upbit, one of South Korea's leading cryptocurrency exchanges, announced that it will launch trading support for the new digital asset SynFutures (F) in KRW and $USDT pairs.
Upbit Launches KRW and $USDT Trading Support for SynFutures (F)
According to the exchange's statement, deposits and withdrawals via the Ethereum network will begin within 1 hour and 30 minutes from the announcement, and transaction support will begin at 16:00 on October 21.
Upbit emphasized that users should select the correct network before depositing assets. The F token will only be supported on the Ethereum (ERC-20) network, and caution should be exercised as transfers made from incorrect networks can take a long time to be refunded.
Additionally, temporary restrictions will be implemented to prevent price fluctuations at the opening of trading:
Buy orders will be restricted during the first 5 minutes after the start of trading,
During the same period, sell orders 10% below the previous closing price will be blocked,
Only limit orders will be available for 2 hours after the start of trading.
According to Upbit data, the price of SynFutures (F) is 13.06 KRW (approximately 0.00917 $USDT) as of 2:00 PM on October 21.
SynFutures stands out as a decentralized derivatives exchange known for its automated market-making system called “Oyster AMM,” which operates entirely on-chain.
The platform offers futures pairs based on real-world assets (RWA) such as crude oil (WTI) and gold (Gold). Within the SynFutures ecosystem, the F token can be used for staking and governance purposes.
*This is not investment advice.