Base Ecosystem Fund Reveals Its Inaugural Six Investments

Base Ecosystem Fund Announces First Six Investments

TL;DR: The Base Ecosystem Fund, led by Coinbase Ventures, aims to invest in the next generation of onchain projects building on Base. We received over 800 applications for our Base Ecosystem Fund, and we’re excited to announce our first six investments today: Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation.

The Base Ecosystem Fund was launched earlier this year to invest in the next generation of onchain projects building on Base. In March, we shared a Request for Builders to highlight key primitives we were excited to see exist onchain, and today, we are thrilled to share our first six investments.

With well over 800 applications submitted, we’re grateful for the passion and effort so many builders put into their applications and are delighted to support this first wave of teams on our shared mission to bring the world onchain and increase economic freedom around the world.

Avantis

• Avantis is an oracle-based synthetic derivatives protocol.
• Users can trade crypto and real world assets with up to 100x leverage.
• Earn yield as a market-maker by providing USDC liquidity.
• Features include simple design (USDC only) and risk management tools.

BSX

• BSX is building a decentralized limit order book for leveraged trading.
• Combines CeFi trading experiences with DeFi principles.
• Features include cross-collateralization and improved front-end.

Onboard

• Onboard offers an onchain, self-custodial fiat-to-crypto onramp.
• Fosters a more inclusive financial system for developing markets.
• Based in Africa, Onboard supports peer-to-peer transactions via smart contracts.

OpenCover

• OpenCover is an L2 insurance aggregator for DeFi users.
• Protects against onchain risks such as smart contract hacks and oracle failures.
• Provides onchain insurance options at the point of transaction.

Paragraph

• Paragraph is an onchain creator platform for publishing and monetizing content.
• Utilizes permissionless protocols to enhance growth and earning potential.
• Features include turning posts into collectibles and monetizing via memberships.

Truflation

• Truflation is an onchain financial oracle for daily inflation reporting.
• Compiles data from numerous sources to provide real-time inflation metrics.
• Enhances transparency and accessibility of financial data onchain.

We are grateful to work with these exceptional teams to advance the Base ecosystem and bring more builders and users onchain, but the journey doesn’t end here. We are actively seeking more pioneers to join this Based journey. Apply and become part of the next wave of builders driving innovation on Base.

https://base.mirror.xyz/yxd0L-FlWCto53pDaxIkEBdkgavvXJk4S3O_5-I33No