On-chain perpetual contract DEX Avantis launches public testnet

According to official sources, Avantis, a perpetual contract DEX on the blockchain, has announced the launch of its public test network. In September, DeFi derivative trading platform Avantis Labs completed a $4 million seed round of financing, led by Pantera Capital, with participation from Founders Fund, Coinbase's Base ecosystem fund, and Modular Capital. The new funds will be used to develop its flagship product, perpetual contract trading and market-making protocol Avantis. Avantis is being developed on the Optimism Superchain, a chain network built using the OP Stack and using USDC stablecoin as collateral for its protocol transactions.