Base L2 rapid development, which ecological projects are worth paying attention to in advance?

Which L2 projects are worth attention in the rapid development of the blockchain ecosystem?

Written by: AlEx Wacy Compiled by: Deep Tide TechFlow

Coinbase, a $20 billion cryptocurrency giant, has unparalleled global influence. The chain incubated by it, Base, is expected to become a catalyst for the next important event in the cryptocurrency field. Currently, the ecosystem is rapidly expanding on a large scale. Let’s take a closer look:

DackieSwap

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DackieSwap is the first native DEX on Base, and its main feature is StableSwap, a fork of the Curve Finance protocol that provides users with optimized trading paths. DackieSwap has attracted a large number of users in the past 30 days, with a liquidity of $730 million and a trading volume of $42 million. DackieSwap aims to provide users with a seamless trading experience on the Base chain without the need for registration and cumbersome operations. Users only need to connect their wallets to seamlessly trade any tokens on the Base chain within seconds. In addition, DackieSwap is also committed to helping users obtain passive income through cryptocurrencies and discovering early-stage opportunities in the ecosystem through DackieLianGuaid (LaunchLianGuaid).

MES Protocol

MES (Multi-rollup Exchange Solutions) aims to create a decentralized exchange (DEX) solution that interoperates across Rollups, enabling liquidity flow and integrated token exchange order books between Rollups, as well as seamless asset transfers between networks. Its goal is to provide a true cross-Rollup DEX that is distinct from other DEXs deployed on different Rollups.

MES provides a unified order book and the ability to exchange assets and data across multiple Rollups, allowing users in the L2 ecosystem to enjoy the trading experience of centralized exchanges (CEXs). Users can benefit from the security of Ethereum L1 and the high throughput and low cost of L2 Rollups.

The MES protocol runs on Rollups, which reduce the computation required to execute trades, compress transactions, and thus reduce gas consumption. MES leverages the security of Ethereum as well as the scalability and efficiency of Rollups.

Volmex

Volmex is a decentralized perpetual exchange (DEX) that has launched the Volatility Index, namely the Volatility Token v1. Volmex subsequently launched the BVIV Index (Bitcoin Volmex Implied Volatility Index) and the EVIV Index (Ethereum Volmex Implied Volatility Index), which track the 30-day implied volatility of Bitcoin and Ethereum, with more plans in the future according to official data.

Volmex aims to provide users with a simple way to access cryptocurrency volatility, while offering a range of use cases including hedging, speculation, and market indicators.

Volmex’s volatility indices and tokens provide users with tools to hedge, speculate, and develop trading strategies in the cryptocurrency market. These indices can help users understand the level of market panic and provide information about future market trends.

Perennial

Perennial is a DeFi derivative protocol used for trading price exposure. It is an automated market maker (AMM) with a peer-to-pool model that provides leverage exposure for traders and earns fees for liquidity providers.

As a derivative AMM, Perennial offers services by directly hedging the positions of any trader with oracle prices and providing funding at a floating funding rate. Traders deposit collateral to obtain leverage exposure from different price sources, and liquidity providers provide funds in the protocol and earn fees by accepting trades from traders. LP and traders settle continuously, with the losing party paying the winning party.

One of the features of Perennial is zero price impact, allowing trading directly at oracle prices regardless of the trading size. Additionally, trades are settled in US dollars instead of cryptocurrencies, aligning with the most popular cryptocurrency derivatives. Perennial is an efficient protocol that minimizes costs for both traders and liquidity providers. It is also designed to meet the needs of developers, providing low-cost, fully on-chain, and easy-to-integrate composability infrastructure. Liquidity providers can customize their own needs with high leverage (up to 50x) and fully customizable risk exposure and hedging strategies. In addition, Perennial is also a permissionless protocol for market creation, integration, and composition.

Horiza

Horiza is a decentralized exchange (DEX) powered by Base. It combines the advantages of Uniswap v3’s concentrated liquidity algorithm and the ve(3,3) design proposed by Solidity to align the interests of participants.

Horiza aims to address two challenges faced by most AMMs. The technical challenge includes improving liquidity deployment efficiency, reducing slippage and impermanent loss, and incentivizing trading pairs that generate fees. The mechanism design challenge is mainly that most protocols focus almost exclusively on incentivizing liquidity provision rather than generating fees. Horiza solves these two challenges by introducing Solidity’s ve(3,3) model and combining it with Uniswap V3’s concentrated liquidity, thus having the advantages of capital efficiency and incentive structure.

Overall, Horiza will leverage Uniswap v3’s concentrated liquidity, automated position management, and ve(3,3) mechanism to provide users with a more efficient trading experience and better incentive mechanism.

Backed

Backed is a platform for issuing Backed Tokens, fully supporting tokenization of real-world assets with a $12 million asset under management.

Backed Tokens are ERC-20 tokens that represent ownership of structured product units. Each token is a fully collateralized tracking certificate unit that tracks the listing value of a specific trading security (underlying asset) and is fully backed by that security. These bTokens are fully compliant tokens under Swiss law and can be freely transferred on the blockchain. They can be sold directly through the Backed platform to qualified investors and licensed dealers.

Backed Tokens provide investors with an opportunity to access real-world assets on the blockchain by tokenizing them.

In addition, the officials have stated that Backed currently does not issue native tokens.

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