The Base Ecological Fund, led by Coinbase Ventures, aims to build an L2 chain - a new generation project on Base, and recently announced its first batch of investment lists. This investment stems from the three directions proposed by the fund in March: Flatcoin, on-chain reputation, on-chain price order book (LOB) exchanges, and safer DeFi. The six projects that received investment were selected from 800 applications: Avantis, BSX, Onboard, OpenCover, Paragraph and Truflation.
(Apply for Base Ecological Fund from Coinbase)
Here is their introduction:
100x Trading Cryptocurrencies with RWA: Avantis
Avantis is an oracle-based synthetic derivatives protocol that allows users to trade cryptocurrencies and real-world assets (RWA) with up to 100x leverage and earn profits by providing USDC liquidity as a market maker.
Base Eco Fund likes Avantis’ simple design with USDC-only support and thoughtful risk management (batch 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.
Base Ecological Fund believes that on-chain transactions should be supported by various market structures, whether it is AMM, order book or any other novel structure. It’s looking forward to BSX combining the CeFi trading experience with the security of DeFi.
Onboard
Onboard provides users with an on-chain, self-hosted way to deposit and withdraw cryptocurrencies in a peer-to-peer manner through their own MPC wallet and smart contracts.
OpenCover
OpenCover is the first L2 insurance aggregation platform to partner with insurance companies such as Nexus Mutual to protect DeFi users from on-chain risks such as smart contract attacks and oracle failures. OpenCover also provides users with on-chain insurance options when trading 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 build businesses on their content, using a license-free agreement to accelerate growth and revenue potential. Paragraph leverages novel on-chain mechanisms such as enabling creators to turn posts into collectibles, send newsletters to wallet addresses, monetize membership benefits, and leverage decentralized social protocols such as Farcaster, Lens , XMTP) to build and cultivate its community.
Truflation
Truflation is an on-chain financial oracle that provides automated and independent daily inflation reporting (i.e. the CPI Index) by compiling data in real-time from 18 million points and 40+ data sources. This represents a higher-fidelity depiction of token inflation compared to the current methodology, which has remained virtually unchanged since 1998 and is only reported monthly.
This article Coinbase’s Base Ecological Fund’s first batch of investments: What do these six projects do? First appeared in Chain News ABMedia.