FutureSwap - Exchange Review

FutureSwap is a decentralized perpetuals trading platform built on Ethereum and Arbitrum, offering up to 30x leverage and its native FST token. It launched with flair, promising leveraged trading on any ERC-20 pair, liquidity pools, staking rewards, community governance. Built on rolling tech, backed by some audit firms. But in practice? It’s been sluggish, barely used. According to aggregators it’s listed as untracked and reserve data is missing.

Volume numbers are modest - market cap under $70K, daily volume around $65K, TVL about $1.1 million. That’s not nothing, but nowhere near active. Circulating supply sits at about 34–35 million FST coins of a 100 million cap.

Weak spots

It boasts audits from Trail of Bits and OpenZeppelin, yet no proofs of reserves appear on public dashboards. Domain traffic is light. Governance talk exists, but actual community voice is near silent. Trading pairs are limited, slippage reports surface when you trade even mid-small amounts.

User experience

Few real traders seem involved. No active forum threads, little discussion on Telegram or Discord. That level of invisibility usually means little real usage.

State of play by 2025

Volume has stalled. FST trades infrequently. Governance proposals happen maybe once in a while, but overall participation is low. No big updates or new feature launches. Most aggregators almost skip FutureSwap due to minimal activity.

Why it didn’t scale

Great vision, shaky execution. Allowed trading any ERC-20 pair with leverage - but without adequate liquidity or user base, execution glitches happen and risk piles up. Leverage platforms need trust and scale, and it never reached either.

What remains

Mostly an echo: token listings, dormant pools, outdated governance snapshots. No major hacks or scandals - just fading interest and minimal liquidity. Company presence is sparse.

Quick facts

Platform Information

Feature	Status / Details
Founded	Around 2019–2020
Protocol builders	Ethereum + Arbitrum zkEVM
Leverage	Up to 30x on ERC-20 pairs
Audits	Conducted, but no public reserves published
Volume (24h)	~$60–80K
TVL	~$1.1 million
Circulating supply	~34–35 million of 100 million FST
Governance / community	Sparse engagement
Trust / usability	Low visibility, limited usage
Verdict	Experimental, low liquidity, not well trusted

Final thoughts

FutureSwap marketed itself as the leverage playground for Ethereum traders - democratized, community-governed, trust minimized. But real-world usage never matched the hype. Without liquidity or a strong user base, the idea stalled.

If you see FST tokens in the wild, treat the platform like a dusty experiment rather than a reliable option. In a sector where leverage and losses go hand in hand, you need transparency. FutureSwap had ambitions - but in crypto, ambition without users and reserves is just vapor.