Avantis

Avantis is a decentralized exchange application built on the Base blockchain that lets users trade perpetual contracts on a range of assets, including cryptocurrencies, foreign exchange pairs, commodities, stock indices, and equities. It is designed for traders who want exposure to these markets without using a centralized intermediary, with leverage of up to 500x available. The protocol's stated aim is to bring instruments typically associated with institutional trading desks into a transparent, permissionless environment.

Avantis runs as an application layer on Base, an Ethereum layer-2 network, so it inherits Base's consensus and settlement rather than operating its own chain — which is why no independent consensus algorithm or block time applies here. Its flagship product, zero-fee perpetuals, is structured so that traders pay no upfront fee; fees are only charged when a trade closes in profit, shifting cost from entry to outcome. The AVNT token exists within this ecosystem, though the data stored here does not specify the precise governance or revenue-sharing mechanics that the token enforces.

The protocol's fee stream comes from traders who profit on their positions, consistent with its zero-fee perpetuals model. Over the trailing 30 days, the protocol recorded fees of $205,388, which annualizes to approximately $2,498,887; fees over the trailing 12 months were $17,532,556. Fees over the most recent 24-hour period were $11,386, and over the trailing 7 days they were $76,845, though fee volume declined 26.58% over the last 30 days. The data does not specify how collected fees are divided between liquidity providers, the protocol treasury, and token holders.