DeFi Perpetuals Exchange Futureswap Launches New Version After $12M Funding Round

Framework Ventures, Ribbit Capital and are backing a project that taps into existing liquidity pools on Uniswap.

AccessTimeIconOct 11, 2021 at 4:54 p.m. UTC
Updated May 11, 2023 at 3:58 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Futureswap has raised $12 million in venture funding from Framework Ventures, Ribbit Capital and to launch an updated version of its Ethereum-based exchange.

The protocol, which taps into v3 of leading automated market maker (AMM) Uniswap, enables leverage of up to 30 times on any liquidity pool. “We’re super excited to add this layer as a new primitive,” CEO and co-founder Derek Alia told CoinDesk in an interview. “The amount of possibilities now are very, very cool.”

Perpetuals are a crypto innovation similar to futures but without an expiration date, enabling users to apply significant leverage to their bets on a given cryptocurrency. While the vehicle is popular for giving traders access to outsize gains, so-called “perps” can also amplify losses, which is why many see them as very risky.

The Futureswap funding round comes as entrepreneurs and investors alike seek to move the needle on decentralized options trading. While options are widely traded in traditional finance, they remain fairly niche in the world of decentralized finance (DeFi) – with perpetuals exchange dYdX being a key exception.

“If you look at what’s going on with dYdX, they recently hit $1 billion in volume, making it one of the most successful crypto projects there is,” Alia said. “We think there’s a very high chance that because we’re leveraging the existing ecosystem, that we could see volumes even higher than that.”

Futureswap will initially run on Arbitrum, a low-fee network that batches transactions before settling them on the Ethereum blockchain.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Helene Braun

Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about