Avantis
Avantis is a decentralized exchange (DEX) for perpetual contracts built on the Base blockchain. The protocol specializes in providing leveraged trading for a wide range of assets, including cryptocurrencies and tokenized Real-World Assets (RWAs) such as foreign exchange (FX), commodities, and equities.
Overview
Avantis is a decentralized finance (DeFi) protocol designed to function as a universal leverage layer for global assets. Its core mission is to enable on-chain traders to speculate on both crypto-native assets and traditional financial instruments within a single, permissionless platform. The project aims to merge the mechanics of institutional-grade financial products with the infrastructure of DeFi, allowing users to take long or short positions on various synthetic assets with high leverage. The platform's architecture is built around a liquidity vault, primarily collateralized with USDC, which serves as the counterparty for all trades executed on the exchange. This model allows for a capital-efficient trading environment where liquidity providers (LPs) can earn fees from trading activity. [1]
The protocol is managed by the Avantis Foundation, an entity based in the Cayman Islands, which contracts various service providers for development and maintenance. The development team is described as a collective of engineers and designers with experience from major financial and technology firms, including Binance and Quantopian. The project's vision extends beyond current offerings, with plans to incorporate additional asset classes like sports and prediction markets, aiming to become a comprehensive on-chain hub for leveraged trading. The official mascot for the project is a leopard named Vanta, and its community is often referred to as the "Vanta Gang." [7] [6]
History
The public-facing origins of the Avantis project can be traced to January 2023, when its official X (formerly Twitter) account was created. The platform began to gain significant traction in early 2024, with data indicating a substantial increase in trading volume and protocol revenue starting in February 2024. By September 2025, the protocol reported having facilitated over $20 billion in cumulative trading volume and achieved a run-rate revenue exceeding $15 million. [6] [7]
September 2025 marked a period of significant milestones for the project. The native token, AVNT, was launched, experiencing notable price volatility. It recorded an all-time low of approximately $0.18 on September 9, 2025, before reaching an all-time high of around $1.57 on September 21, 2025. During this period, the platform's Open Interest (OI) surpassed $30 million. A key product expansion occurred on September 18, 2025, with the launch of on-chain perpetuals trading for the "Magnificent Seven" U.S. equities: Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Amazon (AMZN), Google (GOOG), Tesla (TSLA), and Meta (META). The project also announced an airdrop for early users and community members, with a claim deadline of November 8, 2025. [8] [6] [2]
In November 2025, the AVNT token was listed for trading on the Robinhood platform, expanding its accessibility to a wider market of traders. The announcement was made on November 13, 2025. [6]
Technology
Avantis operates as a decentralized perpetuals exchange on the Base network, an Ethereum Layer 2 solution. Its architecture is designed to support high-throughput, low-cost trading while maintaining decentralization. The protocol utilizes smart contracts to manage its core functions, including the liquidity vault, trade execution, and risk management.
Trading Features
The platform offers a suite of features aimed at both retail and sophisticated traders.
- High Leverage: Avantis provides leverage of up to 500x on select cryptocurrency pairs and up to 25x on major equities, allowing traders to amplify their exposure to asset price movements. [1] [6]
- Cross-Asset Trading: A key feature is the ability to trade a diverse range of asset classes on a single platform. This includes major cryptocurrencies, foreign exchange pairs like the Japanese Yen, commodities like Gold, and tokenized equities. [7]
- Fee Models: The protocol supports two distinct fee structures to cater to different trading strategies.
- Fixed-Fee Perpetuals: A traditional model where traders pay a predetermined fee for opening and closing positions across various asset classes.
- Zero-Fee Perpetuals (ZFP): An alternative model, noted to be in a beta phase, where traders are only charged fees on their profitable trades. This structure is designed to appeal to high-frequency strategies, scalpers, and short-term traders. [1]
- Execution Guarantees: The platform incorporates features such as "Accurate Oracle Execution" to ensure that trades are executed at precise prices derived from reliable data feeds. It also offers "Guaranteed SLs / TPs," which ensures that stop-loss and take-profit orders are executed without slippage. [2]
- Collateral: The primary collateral accepted on the platform is USDC. Avantis has also integrated with the Morpho protocol, enabling users to engage in multi-collateral borrowing of USDC, which can then be deployed for trading on the exchange. [1]
Liquidity Provision
The protocol's trading model is centered around the Avantis LP Vault (avUSDC), a single, unified market-making vault that serves as the counterparty for all trades. Liquidity Providers (LPs) deposit USDC into the vault and receive avUSDC, an ERC-4626 standard yield-bearing token that represents their share of the pool. Holders of avUSDC earn organic yield from 100% of the platform's trading fees, excluding liquidation fees. This model is designed to provide LPs with a steady revenue stream based on platform activity rather than direct exposure to trader profit and loss (P&L). [7]
To protect LP capital, the vault incorporates a buffer system. When traders incur losses, those funds are added to a protocol buffer. Trader profits are paid out from this buffer first, and the vault's principal is only used if the buffer is depleted. This mechanism insulates LPs from the volatility of trader P&L while market makers work to maintain a delta-neutral position for the vault. The standardization of avUSDC as an ERC-4626 token positions it as a composable DeFi asset. Future integrations aim to allow avUSDC to be used as native collateral on Avantis for looping strategies and to enable idle capital in the vault to be deployed into external yield sources, such as Maple Finance's Maple USD or Ethena Labs' sUSDe. [7]
Key Innovations
Avantis has introduced several mechanisms designed to enhance capital efficiency and improve the trading experience.
- Loss Rebates: A system that provides traders with a partial rebate on their trading losses. These rebates are typically offered for trades that help balance the platform's overall open interest skew, incentivizing traders to take positions that reduce the protocol's net risk.
- Positive Slippage: In certain market conditions, traders may receive a better entry price than the current market price. This "positive slippage" is offered when a trader opens a position that counteracts the existing directional bias of the platform's open interest.
- On-Chain RWA Access: The direct integration of Real-World Assets like equities and forex into a decentralized trading terminal is a core innovation, allowing DeFi users to gain exposure to traditional markets without leaving the blockchain ecosystem.
These features are designed to create a more balanced and efficient trading environment for all participants. [1]
Developer Tools
The project provides the Avantis Trader Software Development Kit (SDK), a toolkit enabling third-party developers to build applications, trading bots, and other integrations on top of the Avantis protocol. The SDK is designed for programmatic trading and interaction with the platform's smart contracts. Key capabilities include: [8]
- Trade Operations: Functions to open and close market trades, manage limit orders, update collateral (margin), and modify stop-loss or take-profit levels.
- Data Retrieval: Methods for querying real-time and historical data, including protocol-wide statistics, available trading pairs, asset parameters, and price feed data.
- Configuration: The SDK allows for detailed setup of wallet, trading, and data feed parameters.
- Developer Resources: The official documentation includes installation guides, code examples, a full API reference, and a changelog to support developers.
Tokenomics ($AVNT)
The Avantis protocol has a native utility and governance token, AVNT, which is an ERC-20 token on the Base network. It is designed to align incentives between the protocol's stakeholders, including traders, liquidity providers, and the development team.
Token Details
- Name: Avantis
- Ticker: AVNT
- Total Supply: 1,000,000,000 AVNT (fixed)
- Max Supply: 1,000,000,000 AVNT
- Contract Address (Base):
0x696F9436B67233384889472Cd7cD58A6fB5DF4f1
The token's supply is fixed, with no mechanisms for inflation beyond the initial distribution. [2] [8]
Utility
The AVNT token is designed to act as the "connective tissue" of the Avantis ecosystem, supporting its goal of building a "universal leverage layer" and promoting progressive decentralization. [2] It serves several key functions within the ecosystem:
- Governance: Token holders can participate in the protocol's governance by voting on proposals. These proposals can include changes to the fee structure, the addition of new tradable assets, and other significant protocol upgrades.
- Staking and Security: Users can stake their AVNT tokens in the protocol's "Security Module." This staked capital acts as a backstop to cover potential deficits in the liquidity vault, enhancing the platform's security. In return for securing the protocol, stakers receive a share of the platform's revenue.
- Incentives: The token is used to reward various forms of participation. This includes incentives for traders, liquidity providers, and users who refer new participants to the platform.
- Fee Discounts: Traders who stake AVNT can receive discounts on their trading fees. The size of the discount is typically based on the amount of AVNT staked and the duration of the stake.
- XP Boosts: The platform utilizes a points-based rewards system called Avantis XP, organized into seasons. Staking AVNT can provide users with a boost to the amount of XP they earn through their on-platform activities.
These utilities are intended to create a flywheel effect, where increased platform usage drives demand for the AVNT token. [7] [2]
Distribution
The total supply of 1 billion AVNT tokens is allocated to different segments of the ecosystem to support long-term growth and decentralization. The allocation is as follows:
- Public Goods (Treasury): 27.5%
- Ecosystem & Airdrop: 27%
- Investors: 22.5%
- Core Contributors: 20%
- Advisors: 3%
This distribution model allocates a significant portion of the supply to community-focused initiatives, including rewards and ecosystem development. [2]
Market Availability
The AVNT token is available for spot and/or perpetuals trading on several centralized and decentralized exchanges.
Centralized Exchanges (CEXs)
AVNT has been listed on multiple centralized exchanges, including:
- Binance (Spot + Perpetuals)
- Bitget (Spot + Perpetuals)
- Bybit (Spot + Perpetuals)
- Coinbase (Spot + Perpetuals)
- CoinDCX (Spot)
- Gate.io (Spot + Perpetuals)
- HTX (Spot + Perpetuals)
- Kraken (Spot + Perpetuals)
- OKX (Perpetuals)
- Robinhood (Spot)
- Upbit (Spot)
Decentralized Exchanges (DEXs)
- Aerodrome (Spot)
Team
Avantis was co-founded by Harsehaj Singh (CEO) and Raymond Dong (COO). Singh's background includes experience in DeFi investment and traditional finance, with previous roles at Pantera Capital, Lazard, and McKinsey & Company. Dong has a background in hedge funds, consulting, and crypto-native product leadership. The broader team is composed of engineers and designers from firms such as Binance and Quantopian, with members located across India, the United States, and Europe. [7]
The project's official documentation also describes the core contributor team as a group of 12 "crypto native individuals" with cumulative experience in engineering, investment banking, consulting, and product design. This description emphasizes the team's deep roots in both the crypto industry and traditional finance. [1]
Partnerships and Investors
Avantis has secured backing from several prominent venture capital firms and ecosystem funds. Its key investors include Pantera Capital, Founders Fund, and Galaxy Digital. The project is also supported by the Base Ecosystem Fund, highlighting its strong ties to the Base network on which it is built. [7]
In addition to its financial backers, Avantis has formed strategic partnerships and integrations. The protocol has integrated with Morpho to enhance its collateral options. It has also collaborated with other DeFi projects, such as DefinitiveFi and Aerodrome Finance, for community events like the "Base Alpha" gathering at Korea Blockchain Week. On November 13, 2025, the project announced that its native token, $AVNT, was listed on Robinhood, which Avantis referred to as "the world's most trusted trading platform for global assets." [6] [1]