Avantis — getting points on the project
Avantis is a decentralized platform for trading derivatives with leverage up to 100x. The project operates on the Base network and is supported by its development team. The protocol allows trading popular cryptocurrencies, memecoins, and fiat from different countries. High-risk liquidity pools for the USDC stablecoin are also available.
In September 2023, the team managed to raise $4 million in a seed round of funding led by Pantera Capital. Other investors included: Founders Fund, Galaxy, Coinbase’s Base Ecosystem Fund, and Modular Capital.
On their X (formerly Twitter) account, the project announced the introduction of a points system (Avantis XP) and the start of the first season. The project’s documentation does not mention a native token, but the announcement states that Avantis XP is “the first step on the Avantis DAO journey.” As you know, a decentralized autonomous organization (DAO) is created by launching and distributing a token.
There are two ways to obtain XP: trading and providing liquidity. The season will last for 6 months (until December 2024), but the team can end it earlier.
In this guide, we will take a closer look at the activity on the Avantis project and show the step-by-step stages of implementation.
Guide to completing the activities
Notes: you need a Metamask-type wallet to complete the activity. If you don’t have one, you can use our guide to install and set it up.
Important: to carry out the necessary transactions, the wallet must have ETH on the Base network to pay for gas and USDC to trade and/or provide liquidity.
- Go to the website and connect your wallet.
- On the Trade section, select the desired trading pair, enter all the data, and confirm.
Important: any trade is accompanied by the risk of losing money. Take into account the rationality of all actions related to real money, taking into account your experience.
- Accumulate trading volume by periodically trading on the platform. You can follow the progress of accumulating points on the Avantis XP section:
- On the Earn section, you can provide liquidity in high-risk pools. At the time of writing, the available volume is almost full.
Note: this activity can be combined with receiving points on the Superform project by providing liquidity on Avantis through this protocol, but keep in mind that deposits made through the aggregator will not be reflected in your statistics, and XP distribution will be carried out by the protocol team. The Superform guide is available here.
- You can also follow the progress of points accumulation on the Avantis XP section.
Conclusion
High-risk pools and leveraged trading are accompanied by the possibility of losing money. Execution requires skills in handling real funds, taking into account all risks.
The first season is expected to last until December 2024. The token has not been confirmed at the time of writing, but the project wants to create a DAO. The accumulation of points can be combined with activity in Superform.
Highlights:
- $4 million investment;
- there are expenses;
- support from Base;
- significant duration of the season.
Useful links: Website | X | Discord
If you have any questions while completing the activities, you can ask them in our X.
All information is provided for informational purposes only and should not be used as a basis for making investment decisions, nor should it be considered as a recommendation or advice to participate in investment transactions. Do Your Own Research.
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