Base ecosystem has been developing rapidly. What are some noteworthy projects?

Original Author: AlEx Wacy

Original Translation: 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 expanding rapidly on a large scale. Let's take a closer look:

DackieSwap

DackieSwap is the first native DEX on Base. Its main feature is StableSwap, which is a fork of the Curve Finance protocol, providing users with optimized trading paths. DackieSwap has attracted a large number of users in the past 30 days, with liquidity reaching $730 million and trading volume reaching $42 million. DackieSwap aims to provide users with a seamless trading experience on Base chain without the need for registration or complex 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 generate passive income through cryptocurrencies and discovering early opportunities in the ecosystem through DackiePad (Launchpad).

MES Protocol

MES (Multi-rollup Exchange Solutions) aims to create an exchange solution that enables cross-rollup interoperability, liquidity flow between rollups, integrated token exchange order books, and seamless asset transfers between networks. Its goal is to provide a truly decentralized exchange (DEX) across rollups, distinguishing itself from other DEXs deployed on different rollups.

MES provides a unified order book that enables asset and data exchange across multiple rollups, allowing users in the L2 ecosystem to enjoy the trading experience of a centralized exchange (CEX). Users can benefit from Ethereum L1's security and L2 rollups' high throughput and low cost.

The MES protocol operates on rollups, which reduce the computation needed to execute trades and compress transactions, thereby reducing gas consumption. MES leverages Ethereum's security along with rollups' scalability and efficiency.

Volmex

Volmex is a decentralized perpetual exchange (DEX) that has introduced the concept of volatility indexes, specifically Volatility Token V1. Volmex subsequently launched BVIV Index (Bitcoin Volmex Implied Volatility Index) and EVIV Index (Ethereum Volmex Implied Volatility Index) to track the 30-day implied volatility of Bitcoin and Ethereum, with more plans for 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 indexes and tokens provide users with tools for hedging, speculation, and formulating trading strategies in the cryptocurrency market. These indexes can help users gauge market panic levels and provide insights into future market trends.

Perennial

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

As a derivatives AMM, Perennial offers services by directly hedging positions from any trader against oracle prices, with a floating funding rate. Traders deposit collateral to gain leverage exposure from different price sources, while liquidity providers supply funds in the protocol and earn fees from accepting traders' trades. LP and traders settle continuously, with the loser paying the winner.

One of the features of Perennial is zero price impact, allowing direct trading at oracle prices regardless of the trade size. Additionally, trades are settled in USD cash, not cryptocurrency, aligning with popular cryptocurrency derivatives. Perennial is an efficient protocol that minimizes costs for traders and liquidity providers. It is also designed to meet the needs of developers, providing a 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 customized risk exposure and hedging strategies. Furthermore, Perennial is also a permissionless protocol for market creation, integration, and composition.

Horiza

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

Horiza aims to address two challenges faced by most AMMs. The technical challenges include improving liquidity deployment efficiency, reducing slippage and impermanent loss, and incentivizing fee-generating trading pairs. The mechanism design challenges are mainly that most protocols are almost entirely focused on incentivizing liquidity provision rather than generating fees. Horiza addresses these two challenges by introducing Solidity's ve(3,3) model and combining it with Uniswap V3's concentrated liquidity, thereby combining capital efficiency with incentive structures.

In summary, Horiza will leverage Uniswap v3's concentrated liquidity, automated portfolio 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, which fully supports the tokenization of real-world assets and has 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 transaction security (underlying asset) and is fully backed by that security. These bTokens are tokens that fully comply with Swiss law and can be freely transferred on the blockchain. They can be sold directly to qualified investors and licensed dealers through the Backed platform.

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

In addition, the official statement states that Backed currently does not issue native tokens.