Avantis Testnet Sees $5.5 Billion in Trading Volumes
The Avantis Testnet has achieved impressive trading volumes of over $5.5 billion in just two months of testing. This success has paved the way for the launch of Avantis on the Base mainnet. During the testnet phase, Avantis recorded over 400,000 trades from over 50,000 onchain traders. These trades generated volumes of $5.5 billion, with a total value locked (TVL) of $120 million. Notable investors backing Avantis include Pantera, Galaxy, Base Ecosystem Fund, Founders Fund, and Modular Capital.
Avantis Launches on Base Mainnet
Avantis, a next-generation decentralized exchange (DEX), has officially launched on the Base mainnet. The platform allows onchain traders to trade and make markets for perpetuals of both crypto and real-world assets. Traders can leverage up to 75x and gain exposure to various markets like crypto, forex, and commodities. Liquidity providers can optimize their risk-return profile and earn trading fees by passively making markets. Avantis has also introduced a groundbreaking feature called Loss Protection, which guarantees a rebate on trading losses for traders who take contrarian positions.
Avantis Partners with Chaos Labs for Economic Security
To ensure economic security, competitive fees, and protection for liquidity providers, Avantis has partnered with Chaos Labs. Chaos Labs is a leader in risk simulations and protocol economics. The trading parameters designed and optimized by Chaos Labs are now live on the Avantis mainnet. Avantis has also undergone audits by Zellic and Zokyo, with the audit reports available for public viewing. The platform plans to continue refining its mechanisms using real-world data.
Avantis Future Product Updates
Avantis has announced several upcoming product updates. These include funding rates, one-click trading, gas sponsored trades, their own Layer 2 solution built on the OP stack, and the introduction of real-world asset pairs like Crude-oil and treasury rates. These updates will further enhance the platform’s offerings and cater to the demands of its users.
Hot Take: Avantis Revolutionizes Onchain Trading
Avantis is set to revolutionize the onchain trading and stablecoin economy on the Base blockchain. With its advanced tools for liquidity providers and the ability to trade non-crypto assets, Avantis fills a gap in the market. The platform’s Loss Protection feature, which guarantees rebates on trading losses, is an industry first. Avantis is fully decentralized, ensuring that all processes, including execution, settlement, liquidations, and market-making, occur on chain. With its innovative offerings and strategic partnerships, Avantis is poised for success in the decentralized trading space.
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