Base Ecosystem Fund announced its first batch of investment projects today. The foundation approved six projects from more than 800 applications. These projects are: Avantis, BSX, Onboard, OpenCover, Paragraph and Truflation.

Base stated that it will work with relevant teams to promote the development of the Base ecosystem and introduce more builders and users to the chain. How do these projects stand out from many competitors? What is so striking about them that deserves attention? The following is a brief summary of the project compiled by Odaily Planet Daily.

Avantis

Introduction: Avantis is an oracle-based on-chain perpetual contract product that allows users to trade cryptocurrencies and real-world assets with up to 100x leverage and earn income by providing USDC liquidity as a market maker. Its goal and vision is to enable any trader to obtain trading leverage on any asset class with low fees, self-custody and transparent execution; while empowering anyone to become a market maker and earn income from complex financial products such as derivatives.

It should be noted that Avantis has not released a token yet, but there are already plans for a token release, and the project token AVNT will allow ownership of the protocol through revenue capture and governance in the future. It includes AVNT holders who receive platform fees through one-sided staking, as well as AVNT incentives for traders and liquidity providers.

BSX

Introduction: BSX is building a decentralized spot and perpetual contract exchange, BSX Exchange, which operates through off-chain order books and on-chain settlement.

The Base Foundation believes that on-chain trading should be supported by a variety of market structures and is excited for BSX to combine the best of CeFi trading experiences with the best of DeFi.

Onboard

Introduction: Onboard provides users with self-hosted wallet services and allows for simple and secure transfers between wallets and cryptocurrency swaps. It also supports the exchange of cryptocurrencies into local currencies (currently only supports Nigerian Naira). Its platform’s The user-friendly design and self-hosted infrastructure are tailor-made for the mass adoption of cryptocurrencies in the African market.

Nestcoin, the parent company of Onboard, announced a strategic investment of US$1.9 million yesterday. In addition to the Base Ecological Fund, Hashed Emergent, Adaverse Accelerator and other institutions also participated in this investment. A few months ago, Nestcoin announced a change in its strategic direction. The previous model of incubating multiple products at the same time changed to focusing on the development of Onboard.

OpenCover

Introduction: OpenCover is the first L2 insurance aggregator to cooperate with underwriters such as Nexus Mutual. By selling on-chain insurance, it supports insuring dozens of DeFi protocols including Aave, Curve, and Uniswap easily and economically. Protect retail investors’ portfolios from major on-chain risks and receive coverage from vetted on-chain underwriters against smart contract hacks, oracle failures, and more.

Paragraph

Introduction: Paragraph is an on-chain creator platform that helps creators publish, share and build businesses around their content. Articles published on Paragraph will be permanently stored on Arweave, and readers can subscribe with their wallet address or email. The author can also forward the content to Web3 social platforms such as Farcaster for discussion.

Paragragh provides creators with a series of services including NFT-based membership customization and the option to store content outside of Arweave. Creators can mint different NFTs on Paragraph for 0 Gas and use it to control access permissions to corresponding articles.

Truflation

Introduction: Truflation is an on-chain financial oracle that provides automated, independent daily inflation including U.S. CPI data, housing data, labor data, and more by compiling data from 18 million points and more than 40 data sources in real time Report. Providing more comprehensive and updated information than traditional indices that are updated monthly, Truflation's secure blockchain infrastructure provides unbiased, verifiable data for business decision-making for growth and sustainability.

Truflation issued the TFI token, and holders of the token can participate in the governance of the protocol by staking and locking their tokens for a designated period of time. The longer you lock your tokens, the higher APY you earn. Staking and locking will receive ve tokens. These ve tokens grant holders voting rights in various protocol activities. This includes decisions about token allocation and rewards, data category selection, market strategy, and more. Additionally, ve token holders receive a portion of the protocol fees for active participation, as well as any rewards earned from slashed rewards.

[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.