It is anticipated that Perps V3 will launch on Base in the next few days. The work will be facilitated by the release of Andromeda. Based on the success that V2 has claimed during its stay, V3 enters the market. Multi-collateral, cross-margin, account-based access, liquidation upgrades, and many more features will be included in V3.
Through increasing on-chain perps and risk management, V2 paved the way for V3. Dynamic funding rates and pricing effect are two more solutions that have performed similarly. It’s interesting to note that these functions are now common across a number of platforms. V2 has also been acknowledged for reaching $30 billion in volume and millions of dollars in fees for liquidity providers, or LPs. Pyth Network’s Oracles supported this.
The new features in V3 aim to maintain innovation without compromising the brand image. For example, users will have flexibility and control based on assigned rights while using account-based access. Likewise, transitioning to a more intelligent liquidation procedure for larger positions based on two strategies—non-sandwichable and gradual—will result in partial liquidation with adjustable latency.
Cross-margin allows customers to employ account margins across different positions, which simplifies the trading process. More collateral kinds should be supported by V3 for usage as margin. This encompasses sETH, sUSD, and sBTC, among others.
The majority of community members have expressed gratitude for this development and agreed that Pyth Network was really the solution for advancing the cause. Others who are excited about Perps V3 have stated that it sounds fantastic and ought to go live right away.
Base is holding a vote procedure for RetroPGF by Optimism in the interim. Only badge holders will be able to vote until December 7, 2023. Their responsibility is to support the network in allocating 30 million OP to initiatives. They all showed how they have affected Optimism Collective in one way or another, but only a handful would advance over the cutoff point according to the outcomes of the community voting.
As part of democratizing and decentralizing the future, Base is holding a voting process that is based on a one-person, one-vote method, meaning that a single user can only vote once. The procedure has been well received by the community since it reduces the financial impact and grants authority to each member of Citizen’s House.
Base has made it clear that it does not support any of the projects on the list. Additionally, Base and thirdweb are organizing an in-person hackathon. The event is scheduled for December 8, 2023, to December 10, 2023, in San Francisco. It enables developers to create the next big cryptocurrency consumer application, which might be valued at $1 billion.
Along with other now-standard features, Perps V3 is anticipated to launch on Base soon via the Andromeda Release, building on the success of V2 with on-chain perps and risk management.