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Inventory of the first batch of investment projects in the Base ecosystem fund, what are the highlights?

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Six projects stood out from over 800 applications, mostly related to financial applications or infrastructure.

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Source: 0xAyA, Odaily Star Daily

Base Ecology Fund announced today the first batch of investment projects for the Ecology Fund. The foundation has approved six projects out of over 800 applications, namely: Avantis, BSX, Onboard, OpenCover, Paragraph, and Truflation.

Base represents the collaboration with relevant teams to promote the development of the Base ecosystem, and to bring more builders and users onto the chain. How do these projects stand out from numerous competitors? What are their outstanding features worth paying attention to? The following is a brief summary of the projects compiled by Odaily Star Daily.

Avantis

Official website: https://www.avantisfi.com/

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

Please note that currently Avantis has not yet released its token, but there are plans for token issuance. The project's token, AVNT, will allow for protocol ownership through revenue capture and governance in the future. This includes AVNT holders who obtain platform fees through unilateral collateral, as well as incentives for traders and liquidity providers with AVNT.

BSX

Official website: https://www.bsx.exchange/

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

Base Foundation believes that on-chain transactions should receive support from various market structures, and is pleased that BSX can combine the best CeFi trading experience with the best DeFi.

Onboard

Official website: https://www.onboard.xyz/

Introduction: Onboard provides users with self-hosted wallet services, and facilitates wallet-to-wallet transfers and cryptocurrency exchanges in a simple and secure manner. It also supports the conversion of cryptocurrencies to local currencies (currently only Nigerian Naira). Its user-friendly design and self-hosted infrastructure are tailored for the widespread adoption of cryptocurrencies in the African market.

Onboard's parent company, Nestcoin, announced a strategic investment of $1.9 million yesterday. In addition to the Base ecosystem fund, institutions such as Hashed Emergent and Adaverse Accelerator also participated in this investment. A few months ago, Nestcoin announced a shift in its strategic direction, transitioning from a model of simultaneously incubating multiple products to focusing on the development of Onboard.

OpenCover

Official website: https://opencover.com/

Introduction: OpenCover is the first L2 insurance aggregator to collaborate with underwriters such as Nexus Mutual. By selling on-chain insurance, it supports dozens of DeFi protocols including Aave, Curve, and Uniswap, providing easy and cost-effective protection for retail investors' portfolios against risks on the main chain. It also obtains protection from audited on-chain underwriters against smart contract hacks, oracle failures, and more.

Paragraph

Official website: https://paragraph.xyz/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. Readers can subscribe to their favorite authors using their wallet address or email, and can also forward content to Web3 social platforms like Farcaster for discussion.

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

Truflation

Official website: https://truflation.com/

Introduction: Truflation is an on-chain financial oracle that provides automated and independent daily inflation reports, including US CPI data, housing data, labor data, and more, by compiling real-time data from over 18 million points and more than 40 data sources. Compared to traditional indices updated monthly, it provides more comprehensive and up-to-date information. The secure blockchain infrastructure of Truflation provides fair and verifiable data for business decision-making growth and sustainability.

Truflation has issued TFI tokens, and token holders can participate in the protocol's governance by staking and locking their tokens during a designated time period. The longer the tokens are locked, the higher the earned APY. Staking and locking will receive ve tokens. These ve tokens grant holders voting rights in various protocol activities, including decisions on token allocation and rewards, data category selection, and market strategies. In addition, ve token holders receive a portion of protocol fees for active participation, as well as any rewards from reduced incentives.