Futureswap

Futureswap is a decentralized, non-custodial protocol for leveraged perpetual trading, letting users take long or short positions on crypto assets with leverage while liquidity providers earn fees and token incentives. Built by a small San Francisco team led by founder Derek Alia, it launched on Ethereum in 2020, later moved to Arbitrum and Avalanche for lower-cost transactions, and pioneered an AMM-based design that plugs into pools like Uniswap and Trader Joe. Backed by roughly $13.5M from investors including Ribbit Capital, Framework Ventures, True Ventures and Placeholder, it was governed by the community via its FST token.