Perps V3 is set to launch on Base in the near future, marking the Andromeda release as a significant milestone for development. Building upon the success of V2, V3 introduces a range of new features including multi-collateral support, cross-margin trading, account-based access, liquidation enhancements, and more.

V2 laid the groundwork for V3 by advancing on-chain perps and refining risk management, with features like dynamic funding rates and price impact becoming industry standards. V2's achievements include generating $30 billion in trading volume and substantial fees for liquidity providers, supported by Pyth Network's Oracles.

The upcoming V3 release aims to maintain the brand's momentum while fostering continuous innovation. For example, account-based access offers users greater flexibility and control through delegated permissions. Additionally, V3 introduces smarter liquidation processes for larger positions, incorporating non-sandwichable and gradual approaches to partial liquidation with configurable delays.

Cross-margin functionality enhances the trading experience by allowing users to utilize account margins across multiple positions, while V3 also expands support for various collateral types such as sETH, sUSD, and sBTC.

The community has responded positively to the announcement, recognizing Pyth Network's role in driving progress and expressing anticipation for the release of Perps V3. Meanwhile, Base is currently conducting a voting process for RetroPGF by Optimism, involving badge holders to determine the distribution of 30 million OP tokens to deserving projects. This democratic voting system ensures inclusivity and decentralization within the community.

Base has emphasized that it does not endorse any specific projects on the voting list and has also partnered with thirdweb to organize an in-person hackathon in San Francisco from December 8 to December 10, 2023. This event aims to empower builders to create innovative consumer crypto applications with the potential to reach billion-dollar valuations.