Veranta

Avantis completed an $8 million Series A round led by Founders Fund and Pantera Capital.

The project later established a foundation and prepared for TGE, marking its shift toward decentralized governance and token economics.

Buyback & holder rights: The protocol uses 30% of daily revenue to buy back AVNT on the open market and send it to a burn address; staking AVNT grants trading fee discounts (over $1 million saved by traders to date) and participation in the security module backing liquidity providers.

Major progress: V2 went live on August 13, 2026 (initially in private beta), adding 100+ assets, up to $500 million in open-interest capacity and 250x leverage, with the token up over 17% in a day and volume up roughly 15-fold; the project rebranded to Veranta on September 14 and added 39 new RWA assets on September 28. On June 22, it announced over $100 million in added FX and metals liquidity; in mid-July, Base's strategic pivot to trading named Avantis as a core app.

Unlock overhang: Roughly 667 million AVNT (67% of supply) sit in the Magna vesting contract, with monthly cliff unlocks of about 11.33% and team/investor linear vesting starting in late August.

On August 12, 2026, Avantis launched V2 with more than 100 additional assets, leverage up to 250x and up to $500 million in open-interest capacity, using a hybrid RFQ and AMM design and waiving fees on RWA markets. The brand became Veranta on September 14, with the token still trading as AVNT.

Avantis's daily transactions rose from about 2,600 to 9,400 after V2, daily volume briefly reached $80 million, cumulative volume passed $20 billion, and annualised revenue exceeded $15 million by mid-2026, making it the largest perpetuals DEX on Base by volume. Ourbit delisted the token on October 17.

Avantis's Future strategy and roadmap: Expand RWA markets from over 100 to more than 500 and keep real-world assets fee-free to attract institutional and retail flow. Build a dedicated L2 for cross-margin and raise the RFQ-plus-AMM hybrid capacity beyond the 500 million US-dollar open-interest ceiling, while increasing the buyback ratio from 30 to 50 percent of fees to benefit AVNT holders. After the V2 rebrand to Veranta, keep pushing perpetual trading depth and category coverage from Base to more chains.

Harsehaj Singh, Co-Founder and CEO, started in traditional finance and DeFi investing, formerly at Pantera Capital, Lazard and McKinsey, and founded Avantis in 2023 leading the Base-chain perps and RWA leverage direction. Raymond Dong, Co-Founder and COO, with hedge fund, consulting and crypto-native experience, leads operations and growth, co-founding the company with Harsehaj in 2023. Yug Kapoor, Head of Engineering, leads core contracts and the universal leverage layer, with engineers from Binance and Quantopian. Apoorv Tiwari, Head of Risk, leads protocol risk management and vault tranche design, safeguarding USDC liquidity pool solvency under extreme conditions. The executive team is led by the two founders, with engineering, risk and operations each having an owner.

Avantis charges 4.5 bps as a taker and 1 bps as a maker on crypto majors on both open and close, with maker and taker defined by whether a trade improves or harms platform skew; holding costs on FX majors run below 3% a year.