The Base ecosystem continues to boom with strong investment from Base itself with the Base Ecosystem Fund. Base Ecosystem Fund officially invested capital into 6 different projects with different goals and visions. So what are those 6 projects? Let’s find out together in the article below.
To better understand Base, people can refer to some of the articles below:
- What is Layer 2? Complete Guide to Layer 2 Solutions
- What is Base? Base Cryptocurrency Overview
- What is Arbitrum (ARB)? Arbitrum Cryptocurrency Overview
6 Investment Base Projects
What is base?
Base is a Layer 2 platform with the core technology of Optimistic Rollup built by Coinbase’s own team with strong support from Optimism’s OP Stack. Base has quickly become an important part of Layer 2 solutions in general and together with Optimism made the decision to develop Superchain in particular.
Although newly launched, Base has launched a number of projects with outstanding growth rates such as:
- Friend.tech: Decentralized social media platform where users interact with celebrities through ownership of shares.
- Aerodrome: The AMM ve(3,3) platform is built by Velodrome itself on Optimism. The project quickly reached hundreds of millions of TVL stars within hours of launch.
Overview of Base Ecosystem Fund
Base Ecosystem Fund led by Coinbase Ventures with the goal of investing in potential projects on the Base ecosystem. During the period, more than 800 different projects have applied for registration and there have been 6 projects invested in by Base including: Avantis, BSX, Onboard, OpenCover, Paragraph and Truflation.
This is just the first part of Base Ecosystem Fund, new projects will continue to apply and be considered by Base for future investment decisions.
Avantis
Avatis is a Perp DEX platform that allows users to trade with Crypto market assets and real-world assets with up to 100x leverage and users can participate in making profits through becoming an LP of the project when providing liquidity in USDC. With USDC, Avatis focuses on the safety, sustainability and robustness of this Stablecoin as it has proven its health after fluctuations.
Currently, Avantis is still in the research and development process. Users can join Wailist to search for Airdrop opportunities with the project.
BSX
BSX Exchange is one of the Perp DEXs that is expected to be extremely prominent in the future on Base’s ecosystem. BSX aims for a high-performance Perp DEX model with Off-chain Orderbook along with On-chain Settlements. This model will give users a fast, smooth, simple experience similar to when they trade Perp on exchanges. CEX exchanges like Binance or Bybit.
The model of BSX Exchange has many similarities with dYdX – the largest Perp product in the Crypto market today.
Onboard
Onboard is a Selff-custody Wallet product for everyone. With Onboard, people can store and trade cryptocurrencies. Not only that, Onboard also supports Nigerian Naira money and two methods: bank transfer and mobile wallet. Onboard is built to bring Crypto towards Mass Adoption in the near future.
Some of the limitations of Onboard include:
- When users need to “cash out”, they will need to verify their identity.
- When “cash out”, the limit per transaction is $2,000 and per day is $6,000.
OpenCover
OnpenCover is an insurance platform that helps protect users’ investment portfolios against possible risks such as smart contract hacks, Oracle errors, etc. at an affordable price.
OpenCover has quite a history in the Crypto market.
Paragraph
Paragraph is a social networking platform that allows users to publish their content and earn money from their content. Paragraph was founded by Colin Armstrong in 2021. Paragraph successfully raised $17M with investment from FTX Ventures, Binance Labs, GCR and Seed Club Ventures.
Paragraph allows content creators to build and manage their own audiences by owning NFTs or ERC 20 Tokens.
Truflation
Truflation is an Onchain Financial Oracle platform that provides an automatic CPI indicator by aggregating from many different data sources in real time. This product helps users have close and accurate assessments of the inflation picture because they listen to the report once a month.
Evaluation of 6 Investment Base Projects
Through the above 6 projects and what is happening on the Base ecosystem at the moment we can see that:
- Base wants to focus on Perp DEX – one of the fields that is extremely potential and always has users regardless of the general trend of the market?
- Base will also focus on the Social segment. With the initial success that Friend.tech has had with subsequent projects such as Paragraph, Base also bets that Social can become a big trend in the upcoming cycle.
- Base also invests in projects that intersect On-chain and Off-chain such as Truflation or Onboard wallet.
I highly appreciate the 6 projects Base has invested in for what the projects are implementing. However, we need to monitor more new projects in the early stages of development in the future. Also with this move, we can believe that Base will be one of the next names to compete directly with Optimism or Arbitrum.
summary
Above are 6 investment Base projects that are extremely potential and worthy of being on the watchlist of any researcher.
