The Base ecosystem derivatives exchange Avantis has completed an $8 million Series A financing round, led by Founders Fund and Pantera Capital.

According to Hash World, the decentralized leveraged trading protocol Avantis, based on the Base chain, has announced the completion of an $8 million Series A financing round, led jointly by Peter Thiel's Founders Fund and Pantera Capital, with participation from Symbolic Capital, SALT Fund, and Flowdesk. Harsehaj Singh, CEO of the core development team Lumena Labs, stated that this financing round is expected to be completed by mid-2024, adopting a "equity + token warrant" structure, although post-investment valuation has not been disclosed. So far, Avantis has raised a total of $12 million. Launched in 2023, Avantis has become the largest derivatives protocol on the Base chain, with a cumulative trading volume exceeding $7.5 billion and over 60,000 users. The platform supports trading of real-world assets (RWA) such as cryptocurrencies, foreign exchange, and commodities, with plans to expand into stocks, sports, and prediction markets. To achieve this goal, Avantis will undergo technological upgrades, including redesigning the AMM system to support multiple categories of price sources and developing a customized EVM-compatible blockchain to enable zero gas fee trading. The platform's V2 version is expected to be launched within months, claiming to achieve a tenfold increase in capital efficiency and support cross-margin trading.