Avantis Receives $PYTH Allocation Through Pyth Network’s Retrospective Airdrop Program

Avantis Labs
3 min readFeb 13, 2024

Introduction

At Avantis, we’re pioneering the future of onchain trading by offering an unparalleled trading platform for perpetual futures across crypto, forex, and commodities built on Base. Our collaboration with Pyth Network empowers us to utilize cutting-edge price feeds, ensuring real-time accuracy and reliability for our traders and liquidity providers alike. We are proud to share that Avantis has been recognized with an allocation in $PYTH Tokens as part of the Pyth Retrospective Airdrop: Phase 2 — Decentralized Apps.

We will be utilizing these tokens to further grow the Avantis trading community through a number of ways, including:

  • Retroactive volume-based rewards for mainnet traders
  • Trading competition that takes into account volumes, fees, and PNL
  • Continuous developments & improvements to our mainnet beta

Leveraging Pyth Price Feeds for Enhanced Trading

How are we #PoweredByPyth?

Through our partnership and integrations with Pyth Network, we are able to enhance the Avantis trading experience by offering the following:

  • Multi Asset Trading: We harness Pyth’s price feeds for real-time, accurate prices across cryptocurrencies, FX, and metals, broadening our market offerings.
  • Accurate Trade Execution: Pyth’s on-demand oracle ensures precise trade executions and liquidations, maintaining our platform’s integrity.
  • Robust Security Measures: Incorporating security efforts like confidence intervals that enhance the trustworthiness of trading operations.
  • Simplified Integration Process: Allowing for a swift and seamless enhancement of our platform’s capabilities.
  • Cost-Effectiveness: The Pull Oracle design reduces platform fees, making trading more accessible for our users.

Step into the future of trading with Avantis and Pyth

With Pyth, we saw over $5.5B traded during testnet, and in just one week of mainnet beta launch, are on the way to $10M in trading volume on a TVL base of $1.5M.

Avantis is built entirely onchain, meaning that delivering competitive pricing and low-latency execution is extremely important especially when compared to centralized exchanges. Pyth plays a crucial role in facilitating this objective. With Pyth price oracles, Avantis consistently achieves the most optimal accuracy in executing mainnet limit orders, with deviations typically as minimal as 0.01% from the requested price.

Experience the precision and reliability of Pyth Network’s price feeds integrated seamlessly into Avantis. Discover how our collaboration elevates your onchain trading experience and stay tuned to learn more details about how we will integrate our Pyth token allocation into Avantis!

Avantis is a an onchain leveraged trading and market-making platform. Trade cryptocurrency, forex and commodities with up to 100x leverage, or power trades on the platform as a liquidity provider. Avantis gives advanced risk management tools to traders and liquidity providers for the use and provision of trading leverage. Avantis is built on Coinbase’s Base blockchain, and is backed by industry leading investors such as Pantera, Founders Fund, Galaxy Digital and Coinbase Ventures.

Twitter | Discord | Docs | Website

--

--

Avantis Labs

Democratizing access to derivatives market making and trading. Up to 100x leverage and deep liquidity for crypto and real assets. Built on and backed by Base