Coinbase's Base Ventures Announces First Batch of Investments: What are these six projects about?

The Base Ecosystem Fund, led by Coinbase Ventures, aims to build next-generation projects on the L2 chain - Base, recently announced its first batch of investment lists. This investment is based on the three directions proposed by the fund in March: Flatcoin, on-chain reputation, on-chain limit order book (LOB) exchange, and a more secure DeFi. The six projects that received investment stood out from 800 applications: Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation.

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Here are their introductions:

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100x Trading Cryptocurrencies and RWA with Avantis:Avantis

Avantis is a synthetic derivative protocol based on oracles, allowing users to trade cryptocurrencies and real-world assets RWA with up to 100x leverage, while earning profits by providing USDC liquidity as a market maker.

The Base ecosystem fund appreciates Avantis for its simple design supporting only USDC and thorough risk management considerations such as batching and flexible locking.

Decentralized Limit Order Book Exchange:BSX

BSX is building a decentralized limit order book where users can trade long and short with leverage.

The Base ecosystem fund believes that on-chain trading should be supported by various market structures, whether it's AMM, order books, or any other novel structures. It looks forward to BSX combining CeFi trading experience with DeFi security.

Onboard

Onboard provides users with an on-chain, self-custodial way to deposit and withdraw cryptocurrencies through their own MPC wallet and smart contracts in a peer-to-peer manner.

OpenCover

OpenCover is the first L2 insurance aggregator platform partnering with insurance companies like Nexus Mutual, aimed at protecting DeFi users from on-chain risks such as smart contract attacks and oracle failures. OpenCover also offers users on-chain insurance options during transactions to make on-chain risk management easy and affordable for everyone.

Paragraph

Paragraph is an on-chain creator platform that helps creators publish, share, and monetize their content using permissionless agreements to accelerate growth and revenue potential. Paragraph utilizes novel on-chain mechanisms such as turning posts into collectibles, sending newsletters to wallet addresses, realizing profits through membership benefits, and building and nurturing its community using decentralized social protocols such as Farcaster, Lens, XMTP.

Truflation

Truflation is an on-chain financial oracle that compiles data in real-time from over 18 million points and more than 40 data sources to provide automated and independent daily inflation reports, namely the CPI index. This represents a higher fidelity description of token inflation compared to current methods, which have seen minimal changes since 1998, reporting only once a month.