Investment research report of Avantis, a synthetic asset derivatives protocol

1. Project Overview

Avantis is an oracle-based synthetic derivatives protocol that allows users to trade cryptocurrencies, real-world assets (RWAs), and multiple financial assets through leverage. The project was launched on the mainnet on the Base chain in February 2024 and is one of the largest derivatives trading platforms in the Base ecosystem.

1.1 Project Positioning and Core Functions

Core functions: provide high-leverage trading (up to 500x leverage), synthetic asset trading, liquidity mining, market maker incentives, etc.

Supported assets: cryptocurrencies, forex, commodities, US stock indices, real world assets (RWA), etc.

Technical architecture: Provide price data based on oracles (such as Pyth, Chainlink), using synthetic leverage, liquidity pools, risk layering models, etc.

1.2 Technology and Architecture

Synthetic Leverage Mechanism: Through the "Universal Leverage Layer" architecture, traders are paired with USDC vaults...

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