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Avantis (AVNT) is a decentralized derivatives protocol built on the Base chain, focusing on perpetual contract trading and supporting assets including cryptocurrencies, forex, commodities, and U.S. stock indices with leverage of up to 500x. Its token, AVNT, recently listed on Upbit, Bithumb, and Binance, nearly doubling in price within 24 hours.
Protocol Performance: Since its mainnet launch in February 2024, cumulative trading volume has exceeded $22 billion, TVL has reached $16.75 million, and it has served over 41,000 traders.
Innovative Mechanism: Features zero-fee perpetual contracts and a loss rebate mechanism. Liquidity providers can choose vaults with different risk levels (Junior bears 65% of losses, Senior bears 35%), with an annualized yield of approximately 20%.
Team and Funding: Developed by Lumena Labs, with team members from Pantera Capital, McKinsey, and other institutions. Completed two funding rounds totaling $12 million, led by Pantera Capital and Founders Fund.
Token Distribution: Total supply of 1 billion tokens, with 50.1% allocated to the community, including airdrops, on-chain incentives, and ecosystem grants.
Future Plans: Plans to launch Avantis v2, improving capital efficiency and expanding into stocks, sports, and other asset classes, while building its own EVM-compatible chain for gas-free trading.
Summary
Author: Nicky, Foresight News
On September 15, 2025, AVNT, the native token of the Base ecosystem derivatives protocol Avantis, was officially listed on South Korean exchanges Upbit and Bithumb, as well as Binance’s main platform. Prior to this, the token had already been listed on Binance Alpha, Coinbase, Bitget, and Bybit on September 10. AVNT’s price nearly doubled within 24 hours, attracting significant market attention.
From Zero to Base’s Largest Derivatives Protocol: Avantis’ Two-Year Journey
Avantis is a decentralized derivatives protocol on the Base chain, specializing in perpetual contract trading. It supports synthetic derivatives for cryptocurrencies, forex (FX), commodities (e.g., gold, crude oil), and U.S. stock indices, with leverage of up to 500x.
Since its mainnet launch in February 2024, its cumulative trading volume has exceeded $22 billion, with an annualized trading volume of over $60 billion. It has served more than 41,000 traders, attracted over 25,000 liquidity providers (LPs), and achieved an open interest of $25 million, with cumulative fee revenue exceeding $7.4 million.
Currently, the platform’s 24-hour trading volume stands at $169 million, with a total value locked (TVL) of $16.75 million. The TVL of the Junior Tranche (bearing 65% of losses) and Senior Tranche (bearing 35% of losses) is $10.6 million and $6.14 million, respectively.
Behind these numbers lies Avantis’ exploration of a "universal leverage layer." The platform introduces innovative features such as "Zero-Fee Perps" and "Loss Rebates," reducing costs for high-frequency traders while providing loss protection for LPs (by hedging against popular positions, the platform ensures long-term positive returns for LPs).
The protocol employs a unique risk-tiering model, allowing liquidity providers to choose vaults with different risk levels. The Junior Vault bears up to 65% of losses and receives 65% of fee revenue, while the Senior Vault bears up to 35% of losses and receives 35% of fee revenue.
Currently, the annualized yield for the Junior and Senior Vaults is approximately 20% (with a 180-day lock), supplemented by additional XP incentives to attract long-term participation.
Team and Funding
Avantis is developed and operated by Lumena Labs, with a core team comprising seasoned professionals from DeFi, finance, and technology. Co-founder and CEO Harsehaj Singh previously worked at Pantera Capital, focusing on consumer infrastructure and DeFi investments, and graduated from UC Berkeley’s Haas School of Business. Co-founder and CTO Brank D brings full-stack development experience in building trading systems and has led technical architectures handling hundreds of thousands of users and billions in assets under management.
Other team members hail from institutions like McKinsey, Lazard, and Barclays, with expertise in on-chain consumer product innovation, particularly in leveraged trading, risk infrastructure, and real-world assets (RWA).
In terms of funding, Avantis has received consistent institutional support. In September 2023, the project completed a $4 million seed round led by Pantera Capital, with participation from Founders Fund, Galaxy Digital, and the Base Ecosystem Fund. In June 2025, it secured an $8 million Series A round co-led by Pantera Capital and Peter Thiel’s Founders Fund, with participation from Symbolic Capital and SALT Fund. The total funding of $12 million will be used for technical upgrades (e.g., expanding into stocks and sports assets), launching a custom EVM-compatible chain to improve trading speed, and ecosystem development.
Tokenomics and Distribution
AVNT has a total supply of 1 billion tokens. The tokenomics design emphasizes community-first principles, with 50.1% of tokens allocated to the community and the remaining 49.9% allocated to the team, investors, and the foundation.
Community allocations include 12.5% for an initial airdrop to reward users active since February 2024, 28.6% for on-chain incentives to reward LPs, traders, and referrers in future XP seasons, and 9% for builder and ecosystem grants to support new frontends and applications built on the Avantis SDK.
The team and advisors are allocated 13.3%, subject to a 12-month lockup followed by a 30-month linear vesting period. Investors receive 26.61%, with the same long-term vesting schedule to ensure ecosystem stability. The foundation reserves 4% for strategic funds and 6% for liquidity reserves for exchange marketing and market-making partnerships.
Market Makers: Liquidity Support from Flowdesk and Others
As a participant in the Series A round, Flowdesk is a key market-making partner for Avantis. Headquartered in Paris, this digital asset trading company was founded in 2020 and is regulated by the French Financial Markets Authority (AMF). It provides liquidity services, OTC trading, and treasury management solutions, with technology deployed on Google Cloud for security and scalability. Its services cover CEXs, DEXs, and real-world asset liquidity. In March 2025, Flowdesk raised $102 million (including $52 million in equity/debt hybrid financing) led by HV Capital.
Ecosystem Development and Technological Advancements
Despite its significant achievements on the Base chain, Avantis still faces technical optimization challenges. For example, due to Base’s block production speed, the platform currently experiences delays in opening and closing positions and occasional order failures. Zero-fee contracts also have profit caps (which the team says will be gradually removed as LP规模 expands). Limit orders and stop-loss/take-profit features do not yet support ratio settings, and mobile adaptation needs improvement.
Avantis is building a developer ecosystem by providing an SDK toolkit that allows developers to access deep liquidity on the Base chain. It has already established partnerships with several projects, including Bankr (an AI agent for trading via tweets), Keyrock (an institutional market maker), Pyth (an oracle provider), and Nitrate (a Telegram trading bot).
The protocol plans a comprehensive technical upgrade, improving its automated market maker mechanism to support any type of price feed, including gold, crude oil, and sports odds. Additionally, the project intends to launch its own EVM-compatible blockchain to enable fast, gas-free trading.
These upgrades will be rolled out in the coming months as part of Avantis v2, expected to deliver a 10x improvement in capital efficiency, advanced trading features, and cross-margin support for real-world asset markets.
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