Crypto NewsNewsCoinbase's Tier-2 Solution Base Announces the First 6 Projects It Invested in

Coinbase’s Tier-2 Solution Base Announces the First 6 Projects It Invested in

The developer fund of Base, the layer-2 solution released by Coinbase, shared the projects it invested in.

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Base Ecosystem Fund, a venture capital fund managed by Coinbase Ventures, announced its first six investments in onchain projects built on Base.

The fund received more than 800 applications and selected six projects to support in its first wave of investment: Avantis, BSX, Onboard, OpenCover, Paragraph and Truflation.

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So what are these projects about? In the details he shared, Base listed the features of each project he selected as follows:

  1. Avantis is an oracle-based synthetic derivatives protocol that allows users to trade crypto and real world assets with up to 100x leverage and earn returns as market maker by providing USDC liquidity. Base was impressed with Avantis' simple design and risk management features.
  2. BSX creates a decentralized limit order book for users to trade long and short with leverage. Base stated that he believes onchain trading should be supported by various market structures and is excited that BSX brings together the best of centralized and decentralized trading experiences.
  3. Onboard provides an on-chain, self-custodial way for users to move in and out of cryptocurrencies in a peer-to-peer manner through their own MPC wallets and smart contracts. Base sees this as a critical solution to promoting a more inclusive financial system for emerging markets, particularly in Africa, where Onboard is currently based.
  4. OpenCover is known as the first L2 insurance aggregator to work with insurers like Nexus Mutual to protect DeFi users against on-chain risks such as smart contract attacks and oracle bugs. Base appreciated OpenCover's innovation in providing users with onchain insurance options at the point of transaction.
  5. Paragraph is known as an onchain creator platform that helps creators publish, share and build a business around their content using permisionless protocols to empower their growth and earning potential.
  6. Truflation is an onchain financial oracle that provides automatic and independent daily inflation reporting by compiling data in real time from over 18 million points and over 40 data sources. Base emphasized the importance of having a neutral third party like Truflation report on key financial metrics and make them easily accessible on-chain.

*This is not investment advice.



Buradaki Yorumlardan Bildirim Al
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