Avantis, the Base-based decentralized leveraged trading protocol, has completed an $8 million Series A funding round led by Founders Fund and Pantera Capital

DeThings reported on June 4, according to The Block, that the Base-based decentralized leveraged trading protocol Avantis announced the completion of an $8 million Series A funding round, co-led by Founders Fund, founded by Peter Thiel, and Pantera Capital, with participation from Symbolic Capital, SALT Fund, and Flowdesk. Lumena Labs CEO Harsehaj Singh, the core development team, stated that the funding round was completed in mid-2024 using a "equity + token warrant" structure, but did not disclose the post-money valuation. With this, Avantis' total funding has reached $12 million.
Launched in 2023, Avantis has become the largest derivatives protocol on the Base chain, with a cumulative trading volume exceeding $75 billion and over 60,000 users. The platform supports trading in cryptocurrencies, forex, and real-world assets (RWA) such as commodities, and plans to expand into stocks, sports, and prediction markets. To achieve this, Avantis will undertake technical upgrades, including revamping the AMM system to support multiple price sources, and developing a customized EVM-compatible blockchain to enable zero Gas fee transactions. The platform's V2 version is expected to be launched in a few months, promising a 10x capital efficiency improvement and support for cross-margin trading.